Infosys Ltd and Wipro Ltd on Thursday announced high single-digit salary increases for employees, in a year when the software exporters lagged average sector growth rates and disappointed investors, Mint reported.
Average salary increases at these companies have dropped from 10-12% in recent years and from about 15% before the slowdown of 2008. Infosys, India’s second largest software exporter, said it will raise annual salaries for employees in India by 8% on average from 1 July. Salaries at Wipro, the country’s third largest software firm, will increase by 6-8%, effective 1 June.
Wipro has increased average salaries for on-site employees by 2-3%, also effective 1 June. For high performers, Wipro said it has “awarded double-digit hikes”.
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