'While salary increments are moderating compared to last year, not all functions are moving at the same pace.'
Tata Consultancy Services (TCS) has announced annual salary hikes effective April 1, with top performers receiving double-digit increases, while also renewing its multi-year strategic partnership with UK retailer Marks & Spencer (M&S) to support its omnichannel and data-driven transformation with AI.
'Decisions on talent and rewards have shifted as employees and companies are operating in a buyer's market across most skill categories.'
Corporate India is projected to offer salary increments ranging from 8.6 per cent to 10.2 per cent across various industries in the financial year 2026-27, primarily fuelled by a sustained demand for skilled and execution-focused talent, according to a TeamLease Services report.
The good news is that salary hikes are expected, though it is uncertain when they will be implemented.
Employees with artificial intelligence skills are likely to see better salary increments in the coming years, especially in technology, GCCs, and BFSI sectors, according to TeamLease Edtech.
Country's largest IT services company TCS has rolled out salary hikes in the range of 4.5-7 per cent for a majority of its employees, sources said on Tuesday.
An engaged couple, Neelesh Kumar and Anamika Samant, who were planning their wedding, became victims of a devastating fire at a commercial building in Lucknow, turning their families' wedding preparations into funeral arrangements.
Double-digits salary hikes are making a post-pandemic comeback on the back of a buoyant business outlook in 2023, according to global professional services firm Aon. Aon's latest "Salary Increase Survey in India" has not only projected a 10.4 per cent average hike across sectors for 2023, but also identified actual hikes in 2022 at 10.6 per cent as against its previous projection of 9.9 per cent in February. The figure of 10.6 per cent is the highest since 2012, whereas the 10.4 per cent levels projected for 2023 were last seen in 2015.
Rising income feels like success but unchecked lifestyle inflation traps urban professionals into financing a more expensive version of living paycheck-to-paycheck -- buying material upgrades instead of true future financial freedom.
Tata Consultancy Services (TCS), India's largest IT services firm, is planning to increase salaries by an average of 7-8 per cent for its offsite employees and 2-4 per cent for its onsite staffers in 2024-25. High performers can expect a raise of 12-15 per cent. The company, which had a headcount of 603,305 as of December 31, 2023, will be closely looking at the promotions and the process may also get pushed to the first quarter of FY25, revealed a source on condition of anonymity, because he is not authorised to speak to the media.
The Uttar Pradesh government has increased minimum wages across worker categories after protests in Noida, with the revised rates effective from April 1. The decision follows consultations with employers and labour organisations and aims to address demands for higher wages and better working conditions.
India Inc may offer an average salary hike of 9.6 per cent in 2024, similar to the actual increase last year, according to a report released by global professional services provider Ernst & Young (EY). The 'Future of Pay 2024' report states that the highest salary hikes are expected in e-commerce (10.9 per cent), financial services (10.1 per cent), and 10 per cent each in professional services and real estate. The expected hike will be lower than the 10.4 per cent seen in 2022. In 2023, the highest salary hikes were seen in e-commerce (10.5 per cent), and 10.4 per cent both in auto/vehicle manufacturing and financial services.
Among the sectors, the survey has projected IT, pharma and life sciences, and ITeS among those looking to effect the highest increase in salaries.
What are your views on salary hike in India? Do you agree with ECA's survey? Are you happy with the salary hike you get? Tell us
The Pakistan Cricket Board (PCB) is set to significantly increase match fees and monthly retainers for centrally contracted players, particularly those in the red ball Track A category, for the 2026/27 cycle. The new contracts also introduce format-based categories and substantial bonuses for winning ICC and Asia Cup events.
Indian employees received an average salary hike of 15.1 per cent in 2007, the highest increase across 14 Asia Pacific countries, global human resources services company Hewitt Associates said.
India Inc may have been spiralling salaries in the recent years, but not anymore as double-digit pay hikes can well be a 'thing of the past', thanks to the financial crunch forcing corporates to embark on cost-cutting spree.
In an apparent bid to thwart other airlines from poaching on its employees, priave carrier Air Sahara on Tuesday announced its new human resources policy offering a 40 per cent salary hike to employees.
'A recruiter has no legitimate basis to ask whether you are married, in a same-sex relationship or planning to transition,' says Sonam Chandwani, managing partner at KS Legal & Associates.
Gurugram Police have arrested six individuals, alleging a planned conspiracy behind the recent unrest at factories in the IMT-Manesar area. Investigations suggest external elements incited workers to riot and engage in arson over salary hike demands.
If you have ever said 'I'll sort retirement later,' now is when 'later' begins.
Rising living expenses, fear of contract hiring cast shadow on real gains.
With the financial turmoil causing pursue strings to be tightened worldwide, leading British daily Financial Times will not give salary hikes in the near term, in addition to introducing voluntary redundancy programmes.
South India's manufacturing, construction, and services sectors are grappling with severe labour shortages, prompting employers to offer attractive incentives like free air tickets and salary increments to lure migrant workers back from their home states after recent assembly elections.
IT services major Wipro on Friday said it will give wage hikes to junior employees with effect from September 1, 2021. "Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (assistant manager and below), effective September 1, 2021. "In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80 per cent of the company's workforce - this is the second hike in this calendar year," Wipro said in a statement. As announced earlier, all eligible employees above band C1 (managers and above) will receive pay hikes effective June 1, it added.
As a part of cost cutting measures to tackle global economic downturn, IT major Tata Consultancy Services (TCS) on Thursday said job cuts are possible and ruled out salary hikes next year.
India has demonstrated a double digit growth in salary hike for the fourth year running, the highest in Asia Pacific region, with global HR consulting firm Hewitt Associates forecasting an average 14.5 per cent wage hike in 2007.
IT services company Cognizant on Thursday said about 80 per cent of its eligible employees will receive a salary hike, effective November 1, 2025. The company, during its second quarter earnings, had said that it plans to award merit-based salary increases for the vast majority of employees during the second half of 2025.
'Workers are the people who create all the wealth in this country. How can you call them anti-national?'
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
India Inc may give salary hikes in the range of 9-12 per cent in the coming financial year to retain talent amid revival in the job market, according to consultancy Ernst and Young said.
Indian companies recorded their highest profit margins in 21 quarters during Q4FY26, reaching 11.3 per cent, primarily due to significant savings from lower employee costs and reduced interest payments, which offset rising raw material prices.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
Protests by factory workers in Noida, India, demanding wage increases turned violent, resulting in arson, vandalism, and stone-pelting in Phase-2 and Sector 60 areas. Police have been deployed to control the situation and maintain order.
'I could not get myself to accept a 300 per cent salary hike when armed forces veterans are forced to take to streets demanding equitable treatment for their pension,' says Rajya Sabha MP Rajeev Chandrashekhar.
The government on Saturday assured agitating MPs that their concerns on salary hike would be addressed, National Democratic Alliance convenor Sharad Yadav said in the Lok Sabha, a day after several opposition parties conducted a 'mock' Parliament.
