Thursday, March 24, 2005

IT majors shoot pay hikes at pros to kill attrition

Wipro, Satyam & Infosys have raised salaries by about 15% in a desperate attempt to retain employees.

Wipro has seen its attrition rate drop from 18% in the second quarter to 12% last quarter, a 6% drop. Similarly, Satyam has seen its attrition rate drop from 19% to 15% in the last quarter. Infosys, on the other hand, has seen a marginal drop of 0.5%.
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Wipro has raised offshore salaries by 15-17% in November, while rival Satyam also raised the salaries of its offshore employees by 18-20% in October. ... Infosys has said in its guidance that it expects salary hikes to the tune of 12-15% in FY06.

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Read complete article here.

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