Double-digit pay hikes for techies this year - The Times of India: "Fresher salaries/stipends are already up by 10% to 15% compared to last year. Hires from premier educational institutions have seen 15% to 20% increases this year. Recruiters say the country's top tech firms - TCS, Wipro, Infosys, HCL and Cognizant - are considering a 10% to 15% average hike this year. A senior official at Infosys said the company is looking at a pay hike in June and that it should be in the range of 10% to 12%.
Wipro has just started its appraisal process. An e-mail to employees on Wednesday said the process would be completed by May. Increments are expected to be announced in June-July, and will be effective June 1. Sources in the company said increments would be in the 12-15% range, against 8-12% last year.
Roy Joseph, head of HR in the technology product development and sourcing of Mahindra & Mahindra, said that with the economy rebounding quicker that expected, there is additional pressure on retaining the best talent. "There is limited supply of quality talent. That means a scramble for good people. Ultimately, what prompts good talent to remain where they are is the remuneration.''
Mahalingam said that people with 3-8 years of experience have become particularly hot property. That's because business has increased rapidly and has not given enough time for companies to train freshers to deal with these orders. However, increments will remain lower than what they were in the years immediately preceding the global recession. Companies are cautious about the global economic outlook, given the sluggish recoveries in western markets and the problems in Japan and West Asia. Salary hikes this year will reflect that caution. "
Posts
No comments:
Post a Comment