After Wipro, TCS another IT company announces up to 10% salary hike to employees

Written By DNA Web Team | Updated: Oct 20, 2022, 02:41 PM IST

Cognizant has announced annual compensation for its employees after Wipro, TCS and Infosys.

Cognizant, the world’s largest IT company has decided to introduce annual pay hikes for its employees, following in the footsteps of Wipro, Infosys, and Tata Consultancy Services (TCS). Those with knowledge of the issue say that Cognizant staff could see an increase in salary of up to 10% on average this year.

According to reports, the Higher Jersey-based software business informed its employees last week that they will be receiving "formal eLetters" with the increased pay throughout the week, with the raises taking effect in October for positions up to associate director. (Also Read: Post Office scheme: Double your invested amount via Kisan Vikas Patra; here's how)

Days have gone, since Indian rivals announced pay rises. Last week, Tata Consultancy Services (TCS) made a big announcement about the variable remuneration of its employees. In order to get people in the holiday spirit early, TCS announced that 70% of its employees would receive 100% variable pay. The business units that make up the remaining 30% will also be compensated based on how well they perform.

In a similar vein, Wipro's CEO and Managing Director, Thierry Delaporte, said that during the second quarter of the company's fiscal year 2023, 85% of its employees will receive 100% of their variable compensation. Speaking at a press conference after the release of the second quarter's results, he added that the corporation had promoted over 10,000 workers and raised salaries for all bands.