Infosys, the IT giant, on 13 June 2013 announced a hike in the wages for 2013-14 financial year for employees in India as well as abroad with effect from 1 July 2013. In the meanwhile, Wipro, the rival company of Infosys, also announced a hike in the wages for its employees with effect from June 2013.
The hike being introduced by Infosys and Wipro is a single digit hike. Infosys announced that average increase in the wage for its employees who are based in India will be 8 percent. On the other hand, for the employees placed abroad, the average hike would be that of 3 percent. Global sales team will get a hike of 8 percent.
The third-largest IT services exporter of India, Wipro announced the wage hike too. The average hike announced by Wipro was of 6-8 percent for its overseas employees. On the other hand, for the onsite employees, the average hike would be 2-3 percent which will be effective from June 2013.
The IT industry of India is worth 108 billion US dollar, but since a long time, it has enjoyed double digit hike. However, after the economic meltdown of 2008, there has been a single digit hike only.