Cognizant rolls second hike as a part of ‘two-merit cycles’ announced last year

IT major Cognizant will award its annual hikes for year 2023 for a majority of its employees — a third cycle of hike to be rolled out in 18 months. This is part of the ‘two-merit cycles’ in a year – a one-time measure announced by the New Jersey-based firm last year to arrest attrition.

“This week, the vast majority of you who are in levels up to Associate Director will receive your 2023 merit pay eLetters. Keep in mind that we advanced this merit increase to be six months earlier in the year, following year-end performance reviews. This means many of you are seeing your third merit increase in 18 months,” according to an internal mail sent by CEO S Ravikumar.