Wipro’s average salary hike for its 150,000 employees in 2016 is higher then the 7% it gave in the previous year. Human resource consulting firm Aon Hewitt predicted a salary hike of 9.5% for the IT services industry in financial year 2016-17. TCS in April said it would give an average hike of 10% in FY17. In April, Infosys announced an average of 9% salary hike for its employees in India. For IT companies, salary costs account for a significant part of the revenue.

Source: Mint May 30, 2016 12:00 UTC