TCS Salary Hike News 2024: Good News for Employees! Up to 15 pc Increment; High Performers Can Expect BIG Raise
TCS Salary Hike News 2024: Tata Consultancy Services (TCS), India’s premier IT services company, is gearing up to announce a substantial salary hike for its employees in the fiscal year 2024-25. The increase is slated to take effect from April 1, 2024, underscoring TCS’ commitment to rewarding its talent pool.
TCS Salary Hike News 2024
According to a report on Business Standard, citing insider sources, TCS is poised to elevate offsite employee salaries by an average of 7-8 percent, while onsite employees can anticipate a modest jump ranging between 2-4 percent.
However, the real spotlight shines on high performers within the organization, who stand to reap the benefits of a remarkable 12-15 per cent increment. As per sources quoted in the BS report, TCS is also planning promotions for staff.
TCS has ruled out cutting down on hiring, saying it has no plans of doing so but it may have to pace hiring according to the evolving demand scenario. The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers. Last week, the industry body Nasscom said the industry added only 60,000 jobs in FY2023-24, taking the overall headcount to 5.43 million.
“As we are already seeing some green-shoots in the economy we need more people for more work. In fact, we have no plans to reduce our hiring plans and will continue to hire the same way as we have been doing. Probably we will have to change the hiring phase, but no cutting down on our hiring plans, for sure,” PTI quoted in its report TCS chief executive K Krithivasan in a Nasscom session. TCS employs more than 6 lakh people.
