Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 1213 per cent. High potential employees will get increases of 22-23 per cent.
Though Infosys did not comment on the report, the average salary hike will classify as the highest among the top IT companies.
As for India's largest IT services player, Tata Consultancy Services (TCS) announced that the average salary hike for FY23 will be in the range of 7-8 percent.
The salary increases are not restricted to the Indian IT industry. Globally too, tech talent is being rewarded as never before. Microsoft CEO Satya Nadella said in an email to employees that ‘Microsoft is nearly doubling the global merit budget'.
The internal mail added:“...The most meaningful increases will be focused where the market demands and on early-to-mid-career levels. We are also increasing Annual Stock ranges by at least 25 per cent for all levels 67 and below."
Indian HR experts say that, on an individual level, salary hikes are above 20 per cent.
Diese Geschichte stammt aus der May 18, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 18, 2022-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
India-Pak WC clash could fetch $4,800 a second in ad spend
Global firms are splurging on advertising for the upcoming cricket match between India and Pakistan to be held in the US, tapping into the spending power of the South Asian diaspora.
Bureaucracy braces for change with hope and apprehension
Officials fear re-emergence of coalition politics may lead to delayed or disjointed decisions
'Tax origin not suitable to measure budgetary devolution to states'
Using the \"origin of tax collection\" as an indicator to decide the budgetary devolutions can further accentuate the already high levels of fiscal inequalities among the states, a recent study published in The India Forum journal says.
DISCREPANCIES IN TECHNICAL BIDS - Govt likely to give two weeks to ACC PLI applicants
The central government is planning to give a two-week window to the applicants of the 10 GWh tranche of the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme to submit all the necessary documents, Business Standard has learnt.
Moody's flags concerns over coalition challenge
Says reduced political stability might erode investor confidence
ET Money suspends transactions in Quant MF schemes
Online mutual fund (MF) distribution platform ET Money on Friday said it had suspended fresh lumpsum investments and SIP registration in Quant MF schemes owing to pending 'business and operational integration' with the fund house.
Mirae Asset mulls $150 mn infusion into Sharekhan
South Korea's financial services major Mirae Asset Capital Markets plans to infuse over $150 million into retail broking arm Sharekhan for expansion into wealth and portfolio management business, said sources.
MARKET CRASH AFTER POLL RESULTS - Plea urges SC to direct govt, Sebi to investigate
A lawyer has filed an application before the Supreme Court \"to direct\" the government and the market regulator to give a report on the share market crash and loss to investors after election results Tuesday.
Markets make sharp recovery but a third of stocks still in red
PSES, Adani, infra stocks among laggards
Sebi plans to open CDS market for MFs
The Securities and Exchange Board of India (Sebi) is planning steps that will increase participation and allow greater flexibility for mutual funds (MFs) in the credit default swap (CDS) market.
