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Delayed Hike

Software Engineer

Delayed Hike- Grapevine

Welcome to News Discussion's Private Community

- Major Indian IT companies like Infosys, HCLTech, and LTIMindtree have deferred wage hikes to Q3 FY25 due to sluggish demand. 
- This delay reflects the uncertainty in the global demand environment, particularly for discretionary IT services. 
- Aggregate margins may increase by 25 basis points sequentially, with HCLTech leading. 
- However, not all firms are benefiting equally from this cost-saving measure. Mid-tier players may still face headwinds related to earlier commitments to employee compensation. 
- Analysts are optimistic that wage hikes are imminent as the worst is believed to be over.

Source: [Moneycontrol](https://www.moneycontrol.com/technology/infosys-hcltech-ltimindtree-shift-wage-hikes-to-q3-to-sustain-margins-amidst-weak-demand-article-12834589.html)

Indian IT Firms Delay Wage Hikes Amidst Weak Demand

Journalist

The global demand for IT services has slowed down. Clients are delaying their budgets, and companies are spending less on services. This uncertainty, along

Infosys, HCLTech, and LTIMindtree delay salary hikes until Q3 FY25

Infosys & HCL delay Hikes to next year

Actuarial Associate

- **India's top IT firms** are controlling people costs amid a global slowdown.
- **Middle and senior executives** are being replaced by junior employees, with upskilling investments accounting for 5-7% of costs.
- **Wage costs** for TCS, Infosys, and HCLTech have declined, while Wipro saw a slight increase.
- **Attrition rates** have risen slightly across major firms.
- **Future hiring** remains uncertain, influenced by global events and market conditions.

Source: [Mint](https://www.livemint.com/companies/latest-company-news-today-on-october-19-2024-live-updates-11729296010195.html), [Mint](https://www.livemint.com/companies/people/india-it-services-employee-costs-wage-costs-hiring-attrition-cost-cutting-demand-it-slowdown-tcs-infosys-hcltech-wipro-11729242822117.html)

India's IT Firms Tighten Wage Belts Amid Slowdown

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Indian companies and their obsession with "Hike on last drawn"

Consultant

I'm working at payU payment from 2 years and from last two years they are giving the increments in single digit, is the market is bad ? Last year I got 4% increment I was informed by my manager that company is not doing good same has happened this year again I got only 4% incriment. In my team I have seen people are getting 8-10% also and in other team few have got 12% also, however I feel even 12% is the highest still it seems too low. is this is happening everywhere or it's just payU?

How do the increments happen this year?

Welcome to Software Engineers's Private Community

I have been hearing from multiple friends across organizations in India. Lay offs are not in news but happening silently across boards. Companies are on cost cutting mode. Interesting year ahead

Silent layoffs happenings across organizations

Thank you for sharing this. 
  
 Was not knowing about silent layoffs happening. 
  
 But one interesting thing I have observed is that many organizations are now deliberately making the work environment more pressurised and/or toxic to reduce the headcount so that they don't need to layoff people.

Software Test - QA

TCS is one of the biggest IT companies in India, so I am assuming they pay their employees well. One of my acquaintances was really upset that he got only a 2% hike, which is really very low. Is this an exception, or is this how much hike they give in TCS?

TCS hike 2024

IT Assistant

Do you think TCS should increase hike % to minimum 7%?

Operations Manager

TCS has consistently provided 100% variable pay to its junior employees over the past few quarters. The company has also announced salary increments ranging from 4.5% to 7% for its employees, with top performers receiving double-digit raises.

Salary Hikes

Business Analyst

Today Saw the older news "Overall, the average increment across Indian companies is estimated to fall from 9.4% in 2022 to 9.1% in 2023, according to a study by Deloitte".  No one still talking about 2024

Recent trends in salary hikes within Indian IT companies

Project Manager

Almost 50% of the org got no increments
People with "exceeds" rating got single digit increments
Only promotion cases have got early to mid double digit increments
Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year

The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.

Razorpay increments - sad state

Founder

My joining date in infosys is on September 26, 2024.
Will I be a part of the 2025 appraisal cycle or do I need to wait till 2026 for my next hike?

Infosys hike and appraisal cycle

Lead Consultant

Of course, salary is adjusted to PPP, but the work hours are already higher 
Source: https://www.linkedin.com/posts/pushkar1005_in-united-states-what-i-have-heard-about-activity-7125394362238214144--8Ha?utm_source=share&utm_medium=member_desktop

Comparison: Average IT professional's salary and effort

Analyst

Hi Accenture folks,

What's the hike scenario in Accenture? Is it the same as tcs in single digit like 2% 3% type or in double digits??

Any comment will be very appreciable. Thanks for reading 👍

Accenture hikes

Team Lead

Which are the companies that never did a layoff?

Senior Software Engineer

Product Designer

Cognizant gave 4.5% of the hike for 5/5 ratings.

How much of the hike % your Organization gave this year?

Does Cognizant give a good hike to its employees? What was the average percentage of increment given in Cognizant in 2024?

Cognizant hike 2024

Scrum Master

- India's Nifty 50 index rose to record highs on Monday, driven by strong performance in the IT sector.
- The NSE Nifty 50 climbed 0.4% to a record high of 24,598, while the S&P BSE Sensex added 0.2% to 80,654 points.
- Strong buying in IT stocks, particularly after TCS's positive results, provided a significant boost to the market.
- HCLTech saw a 3.5% rise in shares after reporting increased revenue and growth projections for the ongoing quarter.
- Indian IT companies have benefited from expectations of a U.S. rate cut, with the odds of a 25 basis point cut rising to 90%. 

 Source: Reuters

IT Stocks Lead Rise in India's Nifty 50 to Record Highs

List of companies doing silent layoffs using PIP and Cultural fit issues.

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