TCS announces salary hikes: These are the slabs for offsite, onsite and exceptional employees

Tata Consultancy Services is gearing up to roll out salary increments for its employees in the upcoming financial year. According to sources cited in a report by Business Standard, TCS is likely to offer a salary hike averaging between 7-8% for offsite employees and between 2-4% for those working onsite.

The report also suggests that exceptional performers might witness a higher increment, ranging from 12-15% These revised salaries are expected to come into effect starting April 1, 2024.

While the salary increment process is nearing completion, promotions, particularly at the managerial level, are under close scrutiny due to cost concerns, as mentioned by a source quoted in the Business Standard report.

Despite facing challenges such as a decline in headcount for two consecutive quarters and disruptions in sectors like BFSI and hi-tech, TCS managed to report a marginal increase in net profit.

The company's net profit for the quarter ended December 31, 2023, stood at ₹11,058 crore, marking a 2% rise compared to the same period in the previous year.