TCS becomes the first IT company in 2021-22 to announce salary hike

TCS  becomes the first IT company in 2021-22 to announce salary hike

The wage increase will take effect in April 2021, the company said on 19 March.

In the 2021-22 financial year Tata Consultancy Services (TCS) was the first big IT service company to report a pay increase. The wage rise will be effective from April 2021, a TCS spokesman said on 19 March.

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“We can confirm that we are on track to increase our partners in all of our geographies in line with our benchmarks, effective April 2021,,” the company said in a statement.

“This move reflects our firm commitment to our partners,” added the TCS Speaker.

This will be the company’s second wage rise within a period of six months. Due to the outbreak of the COVID-19 pandemic last March, the previous wage rise period was postponed.

With the salary increase in October 2020, and the forthcoming increase in April 2021, employees of TCS will increase by approximately 12-14 percent on average, according to sources familiar with the growth.

TCS will continue to deliver promotions in accordance with the normal promotion cycle, in addition to the wage increase.

Accenture, the company’s peer, revealed on March 18 a one-time bonus, worth a week’s basic pay.

Cognizant, an IT major company headquartered in the US, has hired 24,000 workers worldwide and has implemented salary increases based on results for 1,6 lakh employees.

From October 2020 to January 2021, Infosys, Wipro and HCL Tech raised their employees’ salaries.

TCS becomes the first IT company in 2021-22 to announce salary hike

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Rajat Singhhttps://bioinformaticsindia.com
Rajat Singh is the chief Author at Bioinformatics India, he has been writing for the past 3 years and has a special interest in SEO, Technology, Health, Life Sciences and gaming.

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