Tata Consultancy Services (TCS) is set to implement its annual salary hikes in March, with payouts commencing in April. The increments are expected to range between 4-8 percent, according to a report by The Economic Times.
As per the report, annual salary hikes at leading IT firms have slowed down in recent years, aligning with the overall industry growth trend. In contrast, the COVID-19 period witnessed double-digit salary hikes across the sector.
Moneycontrol could not independently verify the report.
TCS' compensation revision comes shortly after Infosys informed its employees that annual appraisal letters will be issued before the end of March. .
Notably, TCS had linked its salary hikes and variable payouts to employees' compliance with its return-to-office mandate announced in 2024. The upcoming hikes will follow the company's quarterly variable pay (QVP) rollout in February for the October-December period.
Meanwhile, TCS reported an 11.95 percent year-on-year (YoY) rise in consolidated net profit, reaching Rs 12,380 crore for the December quarter, compared to Rs 11,058 crore in the same period last year. The company’s net sales increased by 5.59 percent to Rs 63,973 crore, up from Rs 60,583 crore in the corresponding quarter last year. In constant currency (CC) terms, sales saw a 4.5 percent YoY growth.
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