TCS rolls-out another salary hike within 6 months for all employees
India’s biggest IT major, Tata Consultancy Services (TCS) has announced a second salary hike within six months, effective from the month of April this year. It would be covering more than 469,000 employees.
Previously, the company had rolled out salary hikes by 6-8 per cent in October 2020. With the upcoming hike, TCS employees will get around 12-14 per cent average increment in six months’ time.
Announcing the salary hike company spokesperson said, “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.”
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.
Yesterday, Accenture has 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.