HCLTech has reportedly rolled out salary hikes to junior employees. According to a Money Control report, most employees at junior levels received a small raise of about 1-2% during the October-December quarter. However, this is much lower than the 7% average annual hikes and 12-15% hikes for top performers that the company had earlier promised. Other IT major IT companies like TCS, have delayed their salary hikes for FY25. These delays are part of efforts to manage costs and protect profit margins amid tough market conditions and reduced client spending.
HCLTech salary hike: Details
As mentioned above, the majority of junior-level employees have received a raise of 1-2% during the quarter. Top performers, on the other hand, got a slightly higher hike of 3-4%.
The report says that HCLTech’s hikes so far have only been given to junior-level employees – E0, E1, and E2 levels with up to 10 years of experience. Mid and senior-level employees (E3 level and above) have not received any raises yet.
“E0-E2 got their letters in December last week. They got only about 1-2 percent hikes and even top performers got maximum 3-4 percent hikes. Employees in the E3 band and above are still awaiting appraisals, many of them didn’t get hikes for the last two years at least, and even three years for E4 levels,” an employee told the publication.
Infosys to rollout salary hikes by Q4, 2025
In a related news, Infosys has announced to implement wage hikes in the fourth quarter. In October last year, the IT company announced plans to implement wage hikes in Q4FY25 in a phased manner. During a press conference following its Q2 results, Chief Financial Officer Jayesh Sanghrajka stated, “Some part of that will be effective in January, and the balance will be effective in April.”