IT sector behemoth, Wipro Limited announced that it was issuing a hike in the salary of around 80 percent of its employees, effective September 1, 2021.
The company released a statement that said that it will begin merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021. In the month of January 2021, the company proclaimed salary hikes for employees who fall under these bands, which is as mentioned ] 80 percent of the company’s manpower.
The increase in salaries would be the second time during this calendar year. The company has also announced that all eligible employees above band C1 (managers and above) will receive a hike in their pay effective from June 1. It also mentioned that on average the increase in pay would be in the high single digits for offshore employees whereas it would be in the mid-single digits for onsite employees. In addition to the increase in pay, the company will also be rewarding top performers with a substantially higher increase.
Wipro’s larger competitor TCS was the primary company to announce the hike for this fiscal year effective April 1, 2021. Wipro posted the company’s Q4 results that stated that the company will do everything that is needed to retain talent at the company.