TCS announces increment again, 2nd pay hike for over 4.7 lakh staff in 6 months
The company had hiked salaries 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.
New Delhi: India’s largest software services firm Tata Consultancy Services (TCS) on Friday announced salary increment for financial year 2021-22. The salary hike would come into effect from April 2021, a TCS spokesperson said.
This is the second increment that the IT major has announced within 6 months and it will cover more than 469,000 employees.
In October 2020, the company hiked salaries by 6-8% and with this second, the employees would avail average increment of 12-14% in 6 months time.
“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,” the company said in a statement.
“This step is a reflection of our steadfast commitment to our associates,” the TCS spokesperson added.
TCS only IT firm to announce pay hike in FY22
The company had hiked salaries 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.
At the end of third quarter, TCS had 469,261 employees with 36.4 per cent women in the workforce.
No large IT services company has announced a salary hike for FY22 yet. Accenture announced recently that it will give a week’s base salary as a one-
time bonus to employees below managing director.
Accenture raised its guidance for its fiscal ending August 31. Cognizant has announced that it will give out over 100 per cent in performance-linked bonus and promote 24,000 employees.