Salary Hike: There is positive news for the workforce of Tata Consultancy Services (TCS), the largest IT service provider in the country. In anticipation of the Holi festival, TCS is set to implement a salary increase ranging from 4 to 8 percent. The company plans to execute this annual salary adjustment in March, with the revised salaries taking effect from April 2025.
TCS has decided to increase their employee’s salary
Media reports indicate that in the financial year 2022 (FY22), TCS granted an average salary increase of 10.5% to its employees, which subsequently decreased to a range of 7-9% in the year 2024 (FY24). For the year 2025, the anticipated salary increment is expected to further decline to between 4-8%.
Net profit of Rs 12,380 crore
TCS reported a net profit of Rs 12,380 crore for the third quarter (October-December 2024) of the financial year 2024-25, reflecting a year-on-year growth of 5.5%. Currently, TCS employs 607,354 individuals and aims to recruit 40,000 new graduates by March 2025. The company has announced that it has promoted over 25,000 employees and is preparing to onboard more than 40,000 new staff members, with this recruitment goal set for the year 2025.
Infosys will also increase salary
In a related development, Infosys, the second-largest IT firm in India, has stated that it will distribute salary hike letters to its employees by the end of February. It is projected that the average salary increase this time may fall between 6% and 8%, effective from April 2025.
Possibilities of heavy salary
High-performing employees will receive a larger salary increment, while the majority will benefit from this adjustment in the fourth quarter. Currently, Infosys employs approximately 323,000 individuals.