TCS is giving two salary hikes within 6 months, OCT 2020 and April 2021?
India’s largest information technology (IT) firm, TCS, has announced a salary hike for its over 469,000 employees from April 2021. As per media reports, this was the second salary hike in six months by the company in FY22.
TCS became the first IT services player to announce salary hikes for FY22. As per media reports
Tata Consultancy Services said in April 2021, “We can confirm that we are on track to give increments to all associates across our geographies, effective April 2021, in line with our benchmarks.”
“We are extremely thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates.” It said
The company had announced its first salary hike in the month of October last year for all of its over 4.54 lakh employees as the company saw “multi-year” growth return on the back of global clients stepping up technology spend.
Percentage Salary Hike
- First salary hikes by 6-8% in October 2020
- Second salary hike by 12-14% in April 20221
Was It Double Salary Hike in Six Months?
Nope, In fact, the company had announced two times salary hike within six months in F22 but the salary increments rolled out in October 2020 was for the financial year 2019 which supposed to happen in April 2020 but it was deferred due to the Covid-19 pandemic.
The next salary hike announced from April 2021 is for the financial year 2020 which is happening as usual. So it’s not like TCS is giving two salary hikes within 6 months.
Currently, the IT major is also planning to bring more employees back to offices, and for this purpose, It has prepared a risk assessment model- Intelligent Urban Exchange to assess how to bring back a certain percentage of employees to the office.