IT salary growth: Infosys, Wipro hike median pay by 30% since FY21

India’s top IT firms have reported significant increases in median employee salaries with increases varying from 12% to 37% since FY21, though the pace of growth appears to be moderating, The Times of India reported.

The median salaries at Infosys and Wipro have jumped by 30% over the past three years, rising from around Rs 7 lakh in FY21 to Rs 10 lakh in FY24. Tech Mahindra’s median pay went up from Rs 5.3 lakh to Rs 6.6 lakh in the same period, though it remained flat between FY23 and FY24.

Global peers Cognizant and Accenture saw more modest hikes—12% and 17.5% respectively—with their median compensation now standing at $14,640 and $22,106. In absolute terms, Indian IT firms raised salaries by Rs 1–2.6 lakh, while Cognizant and Accenture hiked pay by $1,600 and $3,200, respectively.


However, the data also points to a cooling trend in annual increments. At Infosys, median pay grew 13% in FY22, followed by 10.5% in FY23 and 8.5% in FY24. Wipro’s growth rate slipped from 12% in FY22 to 10% in FY24, while Tech Mahindra saw a stagnation in pay over the last year.

TCS and HCLTech have not disclosed their consolidated median employee remuneration.

Commenting on the trend, Ramkumar Ramamoorthy, partner at tech growth advisory firm Catalincs, told ToI, “Wage increases in the IT industry are a function of growth, competitive intensity, skill mix, attrition, and inflation.”

With Inputs from ToI