Key Points
Cognizant has reportedly rolled out salary hikes ranging from 1% to 5% for some of its employees, following a four-month delay..
The raises, based on performance ratings, have sparked further discussion, particularly as the highest increment was capped at 5%, according to a report in the Economic Times...
The timing of these modest raises coincides with widespread criticism of Cognizant's off-campus hiring program, where the starting salary for fresh graduates was set at Rs 2.5 lakh per annum..
Amid the uproar over the low starting salaries, attention has also turned to Cognizants CEO, Ravi Kumar Singisetti, who is now reportedly the highest-paid IT CEO in India..
In 2023, Singisetti earned $22.56 million (approximately Rs 186 crore), a compensation package that is 556 times the median salary of Cognizant employees..
