Cognizant Hike 2023 Predictions

Cognizant is one of the top providers of consulting, business process outsourcing, and information technology services globally. The company employs over 2,62,000 people worldwide with over 1,50,000 in India alone. Based on performance evaluations, Cognizant offers competitive salary hikes to its employees. High performers are given higher percentage hikes compared to lower rated employees. This year, Cognizant employees can expect average salary increases of up to 10%. The hike percentage depends a lot on your current project. In some projects even a rating of 1 was given 10% hike while in others even the top rating was given the same 10%. Your project's revenue and earnings play a big role.

Important Details - Factors Determining Hike

Performance Rating Technology Expertise
Business Vertical Years of Experience
Designation Company and Business Unit Growth

Appraisal Cycle and Ratings

Rating Percentage of Employees
1 - Poor 5%
2 - Needs Improvement 15%
3 - Meets Expectations 60%
4 - Exceeds Expectations 15%
5 - Outstanding 5%

The Cognizant appraisal cycle has 5 ratings. Most employees get a rating of 3. Only 1-2% get the highest 5 rating in a project. The lowest 1 rating is also given to only around 5% employees. So majority get a rating of 2, 3 or 4.

Hike Percentage Range

Rating Hike Percentage
1 6% to 8%
2 4% to 6%
3 2% to 3%
4 10k to 20k increment

The hike percentage depends on various factors like technology, domain, experience etc. Overall the hike range is 5% to 8%. Top ratings of 4 and 5 can get upto 15% hikes.

Promotions and Salary Growth

Typical promotions at Cognizant:

Promotion Salary Increment
Associate to Senior Associate 73%
PAT to PA Details to be updated
PA to Associate Details to be updated

Cognizant roles go from Programmer Analyst Trainee (entry level), to Programmer Analyst, to Associate, Senior Associate, Manager and so on. Salary increments from promotions tend to be good.

Other Benefits

Some other notable benefits at Cognizant:

Benefit Details
Joining Bonus ₹25,000 to ₹50,000
Work Environment Good job security, decent onsite opportunities
Allowances HRA, Medical, PF Contribution, Incentives

The joining bonus depends on skills and early joining. HRA, PF, medical allowances add to the overall salary. Incentives and bonuses also play a part.

Conclusion:

The Cognizant hike and promotion policies aim to reward performance. Employees in business critical projects and niche technologies stand to gain higher rewards. The appraisal process looks at various aspects like quality of work, impact, technical expertise etc. By focusing on skills Cognizant manages to retain talent.

FAQ:

Q1: What is the average hike at Cognizant?

A1: The average hike is 5-8%. But it can go up to 10% for top performers and specialized skills.

Q2: How many ratings are there in Cognizant appraisal?

A2: There are 5 ratings - 1 Poor, 2 Needs Improvement, 3 Meets Expectations, 4 Exceeds Expectations and 5 Outstanding.

Q3: What percentage of employees get top ratings in appraisal?

A3: Only around 5-10% employees get the top ratings of 4 and 5. Most get a rating of 3.

Q4: How much increment for promotion from Associate to Senior Associate?

A4: The salary increment is typically 73% for this promotion jump.

Q5: What allowances do Cognizant employees get?

A5: Typical allowances include HRA, medical, PF contribution by company, incentives and bonuses.

Q6: How much is the Cognizant joining bonus?

A6: The joining bonus ranges from ₹25,000 to ₹50,000 for niche skills and early joining.

 

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