IT Companies Salary Hike: Since FY21, the annual salary hike in IT companies like TCS, Infosys, HCL Tech and Wipro has remained in single digits.
IT Companies Salary Hike: Siddharth*, a systems engineer at Infosys, gets a salary of just Rs 30,000 per month despite three years of experience. He says, ‘The increase in my salary is less than the inflation rate.’ He told that despite getting an ‘overachiever’ rating, he has got only a salary hike of 4-5% and no promotion.
Many employees of the country’s top IT companies who spoke to NDTV Profit agree with Siddharth’s problem. The IT industry, which is the largest white collar job provider in the country and has traditionally been the most sought-after sector, has not been able to give competitive salary hikes for some time due to the slowdown in business growth.
According to data from market intelligence firm UnearthInsight, the annual salary hike offered by top IT companies such as Tata Consultancy Services (TCS), Infosys, HCL Tech and Wipro has remained in single digits (maximum 9%) since FY21 and has gone down even further after Covid.
How much salary hike is expected where?
According to reports, TCS will give annual salary hike in the range of 4-8% this year, which is less than its usual growth rate of 8% every year. Similarly, Infosys will also give a salary hike of 6-8% to Indian employees, while foreign employees will get even lesser hike.
| FY25 | 4-8% | 6-8% | 1-2% | NA |
|---|---|---|---|---|
| FY24 | 7-9% | 9% | NA | NA |
| FY23 | 6-9% | 9.90% | 5.10% | 13 |
| FY22 | 10.50% | 14.60% | 6.80% | 10 |
| FY21 | 6.40% | 6% | 4% | 10 |
| Source | UnearthInsight |
Prashant*, another IT employee, said, ‘Only my expenses have increased in the last two years, rent, car maintenance, medical bills and everything else, but my salary is almost the same. Even if I want to change the company for a better salary, I am not getting a good role in my domain.’
Senior grade employees are also facing the same situation
Senior grade employees are also struggling with growth opportunities. Recently, TCS cut variable pay of its senior employees for at least two quarters, which has limited growth opportunities even for experienced IT professionals.
A TCS associate consultant, on condition of anonymity, said that these cuts are for employees who are fully following corporate instructions, such as coming to office, completing 100% learning and certification and continuously working on projects.
He said that employees who are not following any of these conditions are facing further salary cuts. These circumstances show that employees in the IT sector are facing many challenges in terms of salary hike and career growth.
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