It seems that the Indian IT industries are having a rain of salary hikes and increments.
Since, the announcement of the salary hike by the tech giant Tata Consultancy Services (TCS), many other IT firms came out with such announcements.
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Why Would This Happen?
Basically, the announcements are made by the companies as they are going through a quality talent shortage.
Whatsoever, Many IT majors have already announced some of the major hikes.
let’s go through the list of such companies that have announced some major hikes over the past few days.
1. Infosys Salary Hikes Effective From July 2021
Infosys announced the second salary hike for the employees that will be effective from July 2021 during its 40th AGM.
Prior to this, they have rolled the first hike in January 2021 as the company is on a hiring spree.
This move is to attract the best talent in the market, which is resulting in a consequent upward tick in the attrition rate for the current financial year when compared to the last.
2. Second Salary Hike For 80% of Wipro Employees
Wipro is also not behind in this race since the IT firm is all set to roll out the salary hikes for more than 80% of the employees.Â
The changes from the second hike will be effective from September 2021. Before this, the IT giant rolled out the incentives for the employees in January 2021.
The hike will be given to all the employees who are Band 3 or below will be eligible for this new salary hike.
3. Grofers Offers 33% Salary Hike
Not falling behind, Grofers also announced a 33% salary hike for the techies with hefty ESOP allocation on Monday.
Along with a “hefty ESOP allocation” as the online grocery delivery platform looks to retain staff and woo more tech talent as the hike will be effective from July 2021.
4. PwC Offers 75% Hike In Variable Pay
PricewaterhouseCoopers Private Limited, the 167 yr old firm is all set to offer the hike in variable pay for the Indian employees.
Earlier this year, Pwc also granted a one-time bonus and now is also offering vouchers from Rs 25,000 to 50,000.
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