Double Salary! Infosys, TCS, Wipro Will Double The Salary If You Can Do These Things…
Instead of a routine, fixed appraisal system, IT firms are now focussing on skill based salaries.
For years, the Indian IT industry was plagued with a fixed mindset for salary increase: An annual appraisal system, wherein your boss will comment/give feedback on the appraisal, along with an ‘annual performance audit’ which will determine the salary increase.
But now, things are rapidly changing.
The role of your immediate manager is diminishing, and the skills quotient is increasing.
In this same endeavor, Infosys has just announced a new upskill program, which can double an employee’s salary. TCS too has been running a similar program since this year, and as per reports, even Wipro has launched a similar program.
How exactly can you double the salary? Keep reading to find out more!
Double Your Salary At Infosys
For employees who have more than 3 years experience in Infosys, a unique upskilling program has been launched which can double any employees’ salary.
Called as a Bridge Program, young employees with an average of 3 years experience are trained on latest, cutting-edge technology, and if they score good, their salaries will be increased and even doubled.
Around 400 employees have found their salaries to increase by 40-120% in Infosys after they completed this Bridge program.
Krish Shankar, head of human resources at Infosys said, “We are focused on creating a flexible internal marketplace for our talent to grow, instead of them leaving to join, say, an MBA course. These programmes provide people with alternative career growth opportunities,”
But Why 3 years Experience?
Because 3 years is the time period when most of the junior employees look out for another company. Attrition rate soars, and Infosys has targeted this segment.
If seen logically, an employee will quit because of salary. Say a fresher joins Infosys at a base salary of Rs 3.5 lakh, and after three years, with an average 10% salary increment, he/she will get around Rs 4.5 lakh.
Now, at this juncture, if they successfully complete the Bridge program, then their salary can double to Rs 8 or Rs 9 lakh, and this makes all the difference.
The employee will not quit, rather upskill themselves, and Infosys will get a solid asset for years to come.
A win-win situation.
Some of the bridge programs which include in Infosys are high-level programming, a bridge to design, to full-stack development, and to tech architecture. For programmers, hackathons are conducted to enter the program.
Double Salary At Wipro
Wipro has started conducting turbo tests and coding challenges to find out better programmers, and then pay them higher compared to other employees.
Their salaries are increased by 30-50%, as thus, are retained for a longer duration.
Double Salary At TCS
Starting this year, TCS has decided to double the salary of freshers, who have new-age digital skills such as AI, Machine Learning, Robotics, Big Data and more.
Besides, a new recruitment platform has been developed which tests the candidates and based on the score attained, their salaries are determined.
Such out-of-the-box approach to finalize salaries of employees in IT companies can certainly usher a much-needed revolution, and will also encourage employees to stay updated, and sharp.
Do you think such strategies will work? Let us know by commenting right here!