250 Ar of IndiaThe increment in the current financial year in the current financial year in the current financial year is expected to be lower this year. Experts say that the IT sector is currently facing uncertainties such as global uncertainties, increasing demand for changing skills and increasing acceptance of artificial intelligence (AI). Industry experts estimate that the average increment in the current financial year will be 4-8.5 percent, which is a significant reduction compared to previous years. Krishna Vij, vice president of Teamlies Digital, said that this year the outlook of increments is quite cautious. Companies are expecting a salary increase in range of four percent to 8.5 percent, which is less than in previous years. This deficiency is largely due to global economic challenges, reduction in discretionary expenditure and change in business priorities.
Many companies carried forward the increase
He said that companies are becoming more conservative with their salary budget, and many have extended their increment cycle beyond the general April-June. Vij said that the organizations are moving towards skill-based salary taking advantage of the second category recruitment for cost efficiency. Bonus, ESOP and project-based incentives are being implemented as compensation strategies to stay in the company instead of salary hike. Chief Executive Officer (CEO) Janu Motiani of Reed & Willa also stated a similar expected growth limit. He said that the increment will be between five and 8.5 percent. He said that the days of increase in salary in two digits have now lagged behind, at least there is a similar situation. This reflects a vigilant status in the region.
Many companies have not yet increased
Tata Consultancy Services (TCS) has increased the salary of four to eight percent for the financial year. It has been at the forefront of announcing the increment. However, Infosys, HCL Tech, Wipro and Tech Mahindra have not yet made a final announcement about the salary hike. He said that probably these companies want to see the market move in the second quarter before the final announcement. Motiani said that the rate of leaving the company of professionals has decreased. Due to this, there is no need for an aggressive offer for companies or ‘retention bonus’. This has given more flexibility to companies on the financial front. Motiani said that the industry-wide average of the company in 2024 was 17.7 percent, which is less than 18.3 percent of the previous year. There is a significant difference in salary increase for various level employees.
Edco India estimates that the increment will be six to 10 percent. The company said that the salary of middle -to -senior level employees, demand skills especially AI -related personnel is expected to increase more salary. Edco estimates that the salary of freshers i.e. new employees will increase by two to four percent.
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