Cognizant Announces Annual Compensation Hike After Wipro and TCS

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IT giant Cognizant has chosen to implement annual compensation increases for its staff

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It following in the footsteps of Tata Consultancy Services (TCS), Infosys, and Wipro.

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According to those with knowledge of the situation, Cognizant employees may receive an average compensation boost of up to 10% this year.

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They informed its staff last week that they would be receiving "official eLetters" with the new salary throughout the week

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With the raises taking effect from October for levels up to associate director.

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TCS announced that 70% of the workers will earn 100% variable pay, starting the holiday spirit early.

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Additionally, the performance of the remaining 30%'s business units will determine how much they are paid.

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Similarly, Thierry Delaporte, CEO and Managing Director of Wipro said the company will pay out 100% of variable pay to 85% of its employees for the second quarter of financial year 2023.

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He also said the company has promoted more than 10,000 employees and increased salaries across bands.

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