IT sector companies defer hikes, lower increments amid slow growth

Several IT companies are handing out small increments, postponing raises, while others are simply choosing not to give pay hikes at all this year, according to a report by the Economic Times (ET). TCS has handed out an average hike of six to eight per cent, Wipro has postponed announcements to the third quarter of the financial year, and Tech Mahindra will be deferring the salary of senior-level employees.

Typically, Infosys announces salary hikes in June/July, taking effect from April. However, Infosys and HCLTech have opted not to implement raises at all, according to a report by the Times of India (TOI).