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    Tata Consultancy Services promises 8-12% salary hike

    Synopsis

    Tata Consultancy Services, India’s largest IT services company, said salaries of employees in India would rise between 8% and 12% in FY17.

    ET Bureau
    MUMBAI: Tata Consultancy Services, India’s largest IT services company, said salaries of employees in India would rise between 8% and 12% in FY17, marginally higher than the raise offered by its rival Infosys.

    Bengaluru-based Infosys said on Friday it would hike wages by 6-12% for employees in the country. Even TCS employees in other regions will fare better salary-wise, with TCS saying it was offering a hike of 2-6%, compared to the 1.5-2% wage increase announced by Infosys. TCS has been grappling with higher attrition for three quarters and has said it is looking at ways to bring it down.

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    Infosys human resources head Krish Shankar has said that top performers at the company would be rewarded with much higher pay hikes than the average range and about 20-25% of managerial level staff would also be rewarded with stocks. TCS also said it would pay out 100% of its employee’s variable pay. Infosys handed out 90% of its employee’s variable pay.
    The Economic Times

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