Tata Consultancy Services (TCS) became the first IT services company to announce a salary increment for financial year 2021-22.
This is the second salary hike announced by the company in a span of six months.
With this, TCS employees will get around 12-14 percent average increment.
The previous pay increment cycle was delayed due to the outbreak of COVID-19 pandemic in March last year.
The hiked salary would come into effect from April 2021, a TCS spokesperson said.
“We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks,” the company said in a statement.
“This step is a reflection of our steadfast commitment to our associates,” the TCS spokesperson added.
In addition with the salary increment hike, the company will continue to offer promotions as per the regular promotion cycle.
TCS’s peer Accenture had announced employees a one-time bonus, which would be a week’s worth of their base pay, on March 18.