India’s Salary Hike Slows Down
* The average pay hike at Oracle India as well as Oracle subsidiary i-Flex solutions is down to nearly 7-8%, dipping to 5% in some cases. The average salary hike at Oracle India last year was 12-14%.
* IBM India is attacking fringe benefits offered to its middle management — it has withdrawn the free-housing (on lease) facility recently.
* TCS has said its wage increases this fiscal will be in the range of 8-10%, against 13-15% last year.
* Wipro, too, is likely to go for an 8-10% hike this financial year, compared with 12-13% in 2007-08.
* Infosys’ offshore employees will get 11-13% wage hike this year, against 12-15% last year.
* ICICI, the country’s largest private bank, said it would not announce any annual promotions and large bonuses this year.
[...] check out reports of pay hikes starting to slow down. here’s the full report from the economic times. this partly could be due to the exchange [...]
this is happening sooner than i thought, but it’s inevitable.
I can feel the jealousy in the previous comment and the extended article.
What is funny is that people who have left India for a “better future” can not stand fellow Indians who are doing well. A person sitting at Cisco or Nortel in Bangalore with over 5 years of exp., is of same expertise and caliber (and sometimes even better!) as compared to most their counterparts in the US or Canada. I can say that as I have seen them very closely.
Let us stop complaining and get better in what we do.
hi satya narayan dash,
as is evident from my blog, i actually returned from the US to bangalore., jealousy, is probably a wrong characterization.
saying the people in bay area “can not stand fellow Indians who are doing well ” shows a prejudice. many indians living/working/doing well aborad IS one of the primary reasons bangalore/indian IT is doing well.
This blog talks abt salary hike at Oracle India. How can I not talk abt it??
I joined Oracle 2.5 yrs back. Oracle doesnt have any appraisal cycle. Last december they have few pple arnd 4-8% hike, but mostly there hasnt been any appraisal for the past 3 yrs. And nothing has been talked abt for 2008.
Cisco India Has not given Hike for the past 2 yrs to more than 90% of INDIAN Employees.
Wierd thing is they conduct Appraisals regularly.
That’s a good thing, I think. Otherwise, the golden goose will be dead soon!