Cognizant hike 2024

Back in early 2024, I had a chat with my cousin brother who had been working at Cognizant for three years. At that time, he was looking for a major rise, as he had been putting in extra hours on a major project. The excitement around the Cognizant hike 2024 was mixed, and my brother was confident that his efforts would result in an increase in salary. When the hike was finally announced, he was a bit disappointed. The average percentage of increment at Cognizant in 2024 was around 6% to 7%, with a few exceptional performers seeing marginally higher increases. He was placed in the middle and was given a 6% rise. While it wasn't terrible, it didn’t feel significant enough to reward the extra workload and responsibilities. In his view, the increment was just enough to keep speed with inflation but didn’t reflect the company’s potential to offer more competitive raises to retain its best employees.

I remember when I joined Cognizant, excited about the role but unsure about the salary increments. In early 2024, I eagerly waited for my first annual hike, wondering if the raise would justify my hard work. Like many employees, I had high expectations, especially since industry standards were seeing fluctuations. The Cognizant Hike 2024 was a hot topic, and I was curious if it would fill the excitement or go low. The Cognizant hike 2024 was decent but not extraordinary. The average percentage increase remained around 7% to 8%, depending on performance. High performers saw slightly better hikes, while others received an increment that barely beat inflation. I felt the hike was fair but not industry-leading. While it helped, I believed Cognizant could offer more competitive hikes to retain top talent. Overall, the raise was satisfactory but left room for improvement.

Due to the recession, many companies have reduced the average increment. In this list, Cognizant’s name is also there. Though the company offer great career prospects, when it comes to increment, it has made a shocking reduction in 2024. The average Cognizant hike 2024 has been ranging between 1 and 5% which is 7-11% less than what they were offering in 2023. Not to mention, the company is also in the news for offering low salary packages to freshers. Like many IT and consulting firms, Cognizant also decreased their workforce. In the month of June, the company reportedly laid off 8,100 employees.

Cognizant Hike 2024 has been much lower than in previous years. The company has also been accused of low-basing some staff to an increment of 1% and the peak hikes at around 5%. This is a significant drop from the normal hike of 7-11% range offered in the past years. Several reasons have been put forth to explain the lower changes, including the general economic climate and the slump in demand in the information technology sector. Cognizant has also postponed its yearly appraisals by four months, effective from August 2024 for the new increments. Employees rated higher by performance appraisal received better hikes than the average but still, the overall average was low.