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News on Medial
Salary hikes coming! Infosys workers may get pay bumps from February, says report | Company Business News
Livemint
·
6m ago
Medial
Infosys employees are expected to receive salary hike letters in February 2025 for the September 2022 to October 2023 period. Employees at job level five and below, like software engineers and consultants, will get raises effective January 1, 2025. Those at level six and above will receive their letters in March, effective April. This follows an announcement in October about hikes occurring in two phases. Infosys usually provides annual hikes in June, but this was paused in 2024.
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Related News
Appraisals are joke: Founder slams firms, asks employees to switch
Internet
·
1y ago
Medial
NamasteDev startup founder Akshay Saini slams Indian companies for meagre salary hikes. He advises fellow professionals to switch jobs for higher pay, claiming internal promotions are slow. Saini emphasizes the importance of salary, urging underpaid workers to seek better opportunities. Social media users echo his sentiment, sharing stories of successful job switches for higher salaries.
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Infosys announces Salary hikes
Business Today
·
1y ago
Medial
Infosys has initiated salary hikes for the 2023-24 financial year, which were traditionally effective from April 1 but have been delayed to November 1, 2023. The compensation review program excludes entry-level workers, and the average hike is expected to be under 10%. The company had previously delayed salary increments in 2023 due to business optimization measures addressing industry challenges. Infosys CFO Nilanjan Roy, during an investor call, mentioned that the delay was aimed at addressing inefficiencies within the company, with a focus on improving utilization and reducing workforce strength.
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'My kid’s international school is expensive': Gurgaon realtor calls techie’s 100% hike ask unjustifiable - BusinessToday
Business Today
·
2m ago
Medial
A Gurgaon realtor criticized tech professionals for demanding excessive salary hikes, calling them unjustifiable. He emphasized that salary increases should be based on merit rather than personal needs, such as covering expenses for children’s expensive international schooling. His remarks have rekindled the debate around salary expectations, highlighting differing viewpoints between tech workers seeking substantial pay raises and traditional sectors advocating for merit-based increments. The post gained significant attention and sparked discussions on compensation practices.
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Infosys hands out salary revision letters to employees, average hike below 10%
Livemint
·
1y ago
Medial
Infosys has provided salary revision letters to its employees, with the average pay hike below 10% and effective from November 1, 2023. Entry-level employees were excluded from the annual hikes. The company's net profit increased in the July-September quarter, and it has narrowed its revenue growth guidance for the full year. Infosys also declared an interim dividend per equity share. The operating margin for the September quarter saw a sequential rise.
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Wipro likely to skip pay hikes for top performers in key business line
Economic Times
·
1y ago
Medial
Wipro, India's fourth-largest IT services provider, is considering skipping salary hikes for "top performers with higher compensation" in its largest business line. The decision is part of the company's efforts to address pay disparities and prioritize employees with lower compensation. The move comes as Wipro faces various challenges, including weak client spending and stiff competition from larger rivals. The decision could impact employee morale and lead to increased attrition, as salary bills are a significant portion of IT companies' expenses. Wipro had already delayed its salary hike cycle, and peers like Infosys and HCL have also taken measures to control payroll costs.
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Quick commerce wages growing faster than IT freshers' pay: Report
Inshorts
·
5m ago
Medial
The salary gap between quick commerce workers and IT freshers has narrowed to ₹8,500 per month, as per Teamlease Digital data. The salary of delivery partners grew by 11.57% YoY to ₹3,12,000 per year in 2024-25, while dark store workers' pay grew by 9.15% to ₹2,42,000 per year. Meanwhile, IT freshers' pay rose by 5.97% to ₹4,14,000 per annum.
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TCS wasn't kidding when it ordered staff back to office
Livemint
·
1y ago
Medial
Tata Consultancy Services (TCS) is reportedly using office attendance as a metric to determine salary hikes for employees. TCS assessed attendance along with other factors before rolling out annual wage hikes to over 600,000 employees. Employees who showed up at the office less frequently received lower pay hikes compared to those who regularly attended. TCS has been encouraging employees to return to the office for over 15 months, citing the importance of understanding company culture and working from secure workstations. The use of office check-in as a metric for pay hikes is believed to be the first of its kind.
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Bharti Airtel slashes pay hikes for employees, including top brass
Livemint
·
19d ago
Medial
Bharti Airtel has reduced salary hikes for its employees in FY25, with average increases dropping to 8% from 8.7% in the previous year. Despite a 10.4% revenue growth, median employee remuneration declined over two years. Gopal Vittal, vice chairman and managing director, received a 9% pay rise, earning ₹20.2 crore, while chairman Sunil Bharti Mittal's salary increased by 0.9% to ₹32.5 crore. CFO Soumen Ray's salary rose 9.5% to ₹6.2 crore.
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Accenture won't give salary hikes, high bonuses to Indian employees: Report
IndianStartupNews
·
1y ago
Medial
IT giant Accenture has announced that it will not provide salary hikes and high bonuses to its employees based in India and Sri Lanka this year. The decision is attributed to the challenging economic environment and slower-than-expected growth. The company will still give salary hikes in legally mandated or critical skill areas and will pay lower individual performance bonuses compared to the previous year. Accenture had previously announced plans to lay off 19,000 employees globally. Employee promotions will also be postponed until June 2024.
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Mysuru layoffs: NITES threatens protest; Infosys says testing norms communicated to trainees
YourStory
·
5m ago
Medial
Infosys faced criticism after laying off over 300 trainees who failed internal tests at its Mysuru campus. The IT workers’ union NITES threatened protests if the government doesn't act against the perceived injustice. Infosys maintains that performance assessments were clearly communicated as part of their training program, which is globally recognized. They provided severance pay and support to affected trainees. NITES insists on accountability and justice, considering the layoffs unfair and threatening protests if ignored.
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