High Single-Digit Pay Hike For Wipro Staff In FY20

Wipro, India’s fourth-biggest IT outsourcer, has given high single-digit average pay hike to its employees for FY20 effective June 1.

According to a report in the Economic Times, the Bengaluru-based IT exporter has announced a high single-digit pay hike for majority of its offshore employees located in India. For onsite employees, mainly in the US and Europe, the average pay hike has been in low-to-mid single digit, the business daily mentioned.

Some of the employees at the junior level — entry level to five years experience — have been given 6-8% and for some, it could be 6% and above, two persons aware of the matter told ET.

But employees working in the digital domain such as machine learning, artificial intelligence, blockchain have received special incentives. Worth mentioning here is that top IT companies are expanding their digital offerings to improve their profit margin as margin in the traditional business has been shrinking. So in order to retain talent in the digital space, companies are offering comparatively higher compensation and better increment to employees working in this space.

“On an average, the increments are in the high single digits for offshore employees while increments for onsite employees are in the low-to-mid single digits. There was a special focus on incentivising and rewarding employees in early career stage who are engaged in transformative and future-oriented technologies,” the ET report quoted a Wipro spokesperson as saying.

For the quarter ended March 31, 2019, Wipro reported 9% annual increase in dollar revenue at $2.2 billion while on a sequential basis, its revenue grew 7%. In dollar terms, Wipro’s net profit declined to $359.1 million in the Q4 as against $366 million in the December quarter of FY19.―Times Now