TCS:  More pay and promotions
By Shalini Singh

Among the Indian tech majors, Tata Consultancy Services Ltd (TCS) is still the market leader. A part of the Tata group, India’s largest industrial conglomerate, TCS has a workforce of over 174,000 IT consultants operating in 42 countries. The company generated consolidated revenues of $6.3 billion for fiscal year ending Mar 31, 2010.  Its last quarterly revenue was $2 Billion.

A TCS tipster tells Techgoss:

“
TCS has just announced that it would pay 1.5 times of the quarterly component of the variable pay.  There has been a change in promotion policies as well.

Apart from its record $2 Billion revenue in the last quarter which was up by 13% Q-o-Q and 25% Y-o-Y, TCS also added 19,293 professionals this quarter, the highest ever. TCS also added 30 new clients with one of the Canada’s large financial institutions selecting TCS as a strategic partner to globally support IT, BPO and Infrastructure Services across all lines of business.

Considering the performance of the company in this quarter, the management has decided to pay 1.5 times of the quarterly component of the variable pay for the quarter ended Sep 30, 2010, applicable for eligible employees on its India payroll. This payment will be reflected in the payroll of November 10 since the October payroll has already been frozen.

TCS also moves to a quarterly promotion cycle for employees in C 1 and C 2 grades. This is being done since 'years of experience' is an important criterion at these levels and people joining after the 'promotion cut-off' date had to wait longer, typically 6 to 12 months, to get their promotions. This change has been warmly welcomed by all employees. All those at C1 & C2 grades who are eligible as per promotion guidelines and have been recommended for promotion by their respective units, will receive their promotion letters soon.
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