India’s largest information technology (IT) conman, Tata Consultancy Services (TCS) is set to roll out salary hikes for all of its over 4,69,000 employees from April 2021 – the second increase in six months. TCS has also become the first IT services conglomerate to announce salary hikes for FY22.
The average increment band for offshore employees is expected to be 6-7 percent as per norms, sources close to the development told Press Trust of India. This would be the second salary hike within six months by TCS. "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," the spokesperson added.
The sources said that with the FY22 salary hike, TCS employees will get around 12-14 percent average increment in six months' window. TCS was the first IT services company to announce a salary hike for all employees for FY21 in October last year.
The sources noted that the Mumbai headquartered IT firm had given out a salary hike in line with industry norms in FY21, despite uncertainty due to COVID-19. TCS continues to offer promotions as per the regular promotion cycle. The salary hike announcement by the company marks a return to normal increment cycle, market watchers added.
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