Indian IT firms start rolling out salary hike and promotions


Indian IT firms start rolling out salary hike and promotions

COVID-19 pandemic has caused major disruption in the business of IT companies. Indian software majors had to halt the salary hikes and promotions amid the pandemic. With the businesses opening up, companies have started rolling out salary hikes. 

Wipro is among the first companies to announce the salary hike to its employees starting January 1. 

The Bengaluru based software major said that the employees in the junior band (B3 and below) will benefit from salary hikes. All eligible employees at the mid-level (C1 and above) will receive hikes from June 1, 2021. 

The company usually follows the appraisal cycle starting in June. However, due to the pandemic, Wipro missed one cycle. 

The employees at Wipro are categorised in five bands starting A to E, with sub-rankings in each band based on their experience. 

Wipro's rival IT services firm, Infosys has decided to roll out salary hikes and promotions across all levels effective January 1. The company will also pay a one-time special bonus for its junior employees this year. 

India's largest IT service firm, Tata Consultancy Services (TCS) started rolling out salary hike to its 4.5 lakh workforce in October. 

TCS carried out its promotions cycle earlier this year but deferred the salary hikes. 

HCL Technologies has also announced pay hikes across all bands. The junior-level employees got their hikes in October. The seniors will start receiving the hike from January 2021. 

Another major IT player, Mindtree has also announced pay hikes effective from January 1, 2021. The company has said that it has already completed promotion cycle in the September quarter.

0 Response to "Indian IT firms start rolling out salary hike and promotions"

Post a Comment