Breaking News: Cognizant employees get 7-9% salary hike

Bengaluru (Bangalore): Cognizant has given a salary increase of 7%-9% for employees in India and around 3% for onsite employees (those in customer locations) effective July 1.

The increase is largely in line with the increments that its peers have given. India's largest IT services company TCS gave an 8% hike to employees in India and 2%-4% for overseas employees. Infosys gave an average salary increase of 6.5%, though the average increment for top performers was 9%. Wipro's average salary increase was 7% for employees in India.

Cognizant did not share specifics, but the company's spokesperson said, "We have started announcing promotions and salary revisions with effect from July 2015. The average salary hike for offshore associates is in high single digits and those onsite is in low single digits. As with prior years, this year's salary revisions are designed to be market competitive, differentiate niche and critical talent, and reward high performance."

The company, which has most of its employees in India, added 6,200 in the March quarter taking its global headcount to 217,700.

The $146-billion IT outsourcing industry, which for many years rewarded employees with double digit increments, today face pricing pressure thanks to traditional IT services like application development and maintenance becoming commoditized.

"Companies are battling cost and pricing pressures. They are keeping their base salaries lower and instead reward their employees with stock options to manage their cost structure more efficiently and protect their bottomline," said H V Harish, partner in consultancy firm Grant Thornton.

Courtesy: IOT, ET now, NDTV, CNN-IBN, Money Market, CNBC TV18

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Spokesperson meaning and definition

1. Spokesperson - Person who acts as the voice of a group of people.

2. A spokesperson or spokesman or spokeswoman is someone engaged or elected to speak on behalf of others.

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