TCS to Hike Wages by 8-12%

The Economic Times - - Companies - Jochelle.Men­donca @times­group.com

Tata Con­sul­tancy Ser­vices, In­dia’s largest IT ser­vices com­pany, said salaries of em­ploy­ees in In­dia would rise be­tween 8% and 12% in FY17, marginally higher than the raise of­fered by its ri­val In­fosys. Even TCS em­ploy­ees in other re­gions will fare bet­ter salary-wise. TCS said it was of­fer­ing a hike of 2-6% for em­ploy­ees in other re­gions, com­pared to the 1.5-2% wage in­crease an­nounced by In­fosys.

TCS has been grap­pling with higher at­tri­tion for the past three quar­ters and has said it is look­ing at ways to bring it down.

In­fosys hu­man re­sources head Kr­ish Shankar has said top per­form­ers at the com­pany would be re­warded with much higher pay hikes than the av­er­age range and about 20-25% of man­age­rial level staff would be re­warded with stocks.

TCS also said it would pay out 100% of its em­ployee’s vari­able pay. In­fosys handed out 90% of its em­ployee’s vari­able pay.

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