TCS rolled out Pay Hike from April 2021, Who will not get it?
India’s biggest IT major, Tata Consultancy Services (TCS) had announced its second salary hike within six months, effective from the month of April 2021.
Previously, the company rolled out its first salary hikes by 6-8% in October 2020. With the upcoming hike, TCS employees will get around 12-14% average increment in six months’ time.
Will all the employees will get the salary Hike?
This hike is only applicable to TCS employees who had joined the organization on or before January 2020. Employees joining in February and March 2020 have already received their annual hike in the form of the final year anniversary and there won’t be any further appraisals for them.
So these April hikes are only applicable for employees who had joined last year in January or before that.
Employees joining in April 2020 and after that will be receiving their first hike in the form of Final Year Anniversary upon the completion of one year of service at TCS.
It was noticed confusion between many freshers, some were also eagerly looking for a hike but hopefully, this will clear things for them.
After the outbreak of the Covid-19 pandemic last year, India’s IT Companies are expected to return to pre-pandemic growth levels in the three months ended March 31, on the back of strong demand and large deals signed in the previous two quarters.
Recently, Accenture also announced a one-time bonus—equal to one week of base pay—for its employees below the managing director. Infosys has also rolled out salary hikes and promotions across the board as well as a special bonus in the quarter ended Dec. 31.