Variable Pay

India's largest IT firm pays full QVA to majority of its staff for the second straight quarter, even as revenue growth hits a multi-year low and annual hikes remain deferred

This marks the second consecutive variable pay cut at TCS for senior employees despite adherence to the work-from-office directive

The highest salary hikes are expected to be seen in e-commerce (10.9%), financial services (10.1%), and professional services and real estate (10% each)

In a sign of approaching headwinds, IT firm Infosys has cut the average variable payout at an organisational level to 60 per cent for the fourth quarter of the financial year 2022-23 (FY23), according

The highest salary hikes are expected in the high-tech industry in 2023, followed by the Software Service Outsourcing (SSO) industry

Wipro has proposed to pay 87 per cent of the variable pay component to over 80 per cent of its workforce, according to a communication in the company's internal email

TCS announced 100 per cent variable pay for its grade C2 employees, and the remaining 30 per cent or senior employees will get variable pay in line with their business performance

In the stay interviews, companies have a conversation with their employees to show that they are important to the organisation

Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23

The employees who will benefit from this include workers in auto and auto ancillary, manufacturing, consulting and chemicals units besides pockets of the technology, banking and financial industries