TCS to hire 55,000 for FY15; average salary hike of 10%

Tata Consultancy Services (TCS), India's largest IT services provider, announced that they will be hiring 55,000 employees for FY15. The company made total gross addition of 61,200 employees for FY14.

"We had announced similar numbers last year but depending on the business environment we have added employees," said N Chandrasekaran, CEO & MD, TCS.

Of this 55,000 employees the company has already given offer letters to 25,000 freshers. The rest of the numbers would be done through lateral hiring.

TCS also announced a wage hike of 10 per cent for employees in India, 2-4 per cent wage hike in developed markets and 4-6 per cent in developing markets. For the fourth quarter of FY14 the company paid out 100 per cent variable pay component.

"On an average the salary hike will be 10 per cent, but high performers may get 14 per cent hikes," said Ajoy Mukherjee, Executive Vice President, Head, Global Human Resources.

During the quarter the company made net addition of 9,751 employees taking its total headcount to 300,464 for FY14. Of these 7,572 Trainees and 7,401 Laterals recruited in India, while 3,591 employees were hired in international locations. It reported attrition of 11.3 per cent for the quarter.

"We trained and integrated 61,200 professionals who joined TCS during 2013-14. With business demand continuing to be robust, we have made almost 25,000 fresh offers on engineering campuses for trainees who will join us from the second quarter of the new fiscal year," said Mukherjee.