6-8% raise at Infosys, Wipro
Despite the slowdown in growth, Infosys and Wipro have hiked salaries of their employees.
Wipro said it would increase salaries by 6-8 per cent across the board from June. Employees working in client locations abroad will get a 2-3 per cent hike, the company said in a statement.
Infosys said it was giving a hike of 8 per cent for its India-based employees and 3 per cent for employees abroad who did not get a raise in February.
The global sales team of Infosys will get a pay hike of 8 per cent from May and other employees, from July.
Addressing employees at the Infosys campus, N. R. Narayana Murthy, who recently returned as the company’s executive chairman, said non-performers and people on the bench will have to prove their worth. The company will have new performance-evaluation schemes.
In the last two years, Infosys and Wipro have not been able to grow at the pace at which the Indian IT industry has due to their clients’ hesitance to spend more on outsourcing, according to industry watchers. This, in turn, had led to a spate of senior level exits in both the companies.
TCS, in April, said that its India employees will get a hike of 8-10 per cent and those working in client locations, 2-4 per cent.
Other companies are learnt to be following suit. Bangalore-based MindTree is finalising the quantum of hike to be offered to its employees. The company plans to increase salaries as it did in 2012, when staff got a 6 per cent hike, said a senior-level employee.
However, a MindTree spokesperson said that it has not yet decided on the wage hike for its 11,500 employees. After the fourth quarter results, Ravi Shankar, Chief People Officer, had told analysts that it will decide on hikes by July.
Similarly, about 31,000 employees of Mahindra Satyam are expecting a hike next month, a Mahindra Satyam employee said.