TCS Salary After 1 Year 2024 | Salary Hike in TCS After 1 Year: TCS offers salary hikes to its employees after completion of 1 year of service. The hike percentage depends on the performance rating given by the supervisor. Employees are eligible for promotion after 1 year which comes with a default salary increment.
Salary Offered to Freshers
In 2024, TCS offers an annual CTC of around 3.33 LPA to fresh graduates. After completion of the Initial Learning Program (ILP), the salary is increased to 3.36 LPA. The major salary hike happens after completion of 1 year of service.
The hike percentage depends on the First Anniversary Rating (FAR) given to the employee:
- 5 rating - 12% hike
- 4 rating - 10% hike
- 3 rating - 8% hike
Due to COVID-19, the hikes for FAR are lower:
- 5 rating - 33k increment
- 4 rating - 30k increment
- 3 rating - 27k increment
Salary Offered to Experienced Professionals
For experienced professionals, TCS offers attractive salary packages through its Digital and Ninja profiles:
- Ninja profile - Starting at 3.36 LPA
- Digital profile - Starting at 5.5 LPA
Experienced employees also receive a salary hike after 1 year based on their FAR rating. The hike percentages are similar to those offered to freshers.
Promotion Opportunities
After 1 year of service, employees are eligible for promotion which comes with a default increment. Further promotions depend on periodic performance assessments, experience and examinations conducted by TCS.
By performing well, employees can move to higher positions over the years like:
- Associate Software Engineer
- Software Engineer
- Senior Software Engineer
- Module Lead
- Project Manager
Allowances and Perks
Along with attractive pay packages, TCS offers many perks and allowances to its employees:
- Health insurance
- Life insurance
- Retirement benefits
- Paid leaves
- Performance bonus
- Flexible work hours
- Career development opportunities
These benefits further enhance the overall salary package at TCS.
Key Takeaways
| For Freshers | For Experienced |
|---|---|
| Starting at 3.33 LPA | Digital - 5.5 LPA Ninja - 3.36 LPA |
| 12% hike for 5 rating | Hike depends on FAR rating |
| Promotion after 1 year | Periodic promotions |
Conclusion:
TCS offers attractive salary packages and regular hikes to its employees. The company has structured promotion policies to reward performance. The salary increments, allowances and job growth opportunities make TCS a preferred employer for freshers and experienced professionals alike.
FAQs:
Q1: How much is the TCS fresher salary in 2024?
For freshers in 2024, TCS offers an annual CTC of around 3.33 LPA initially. This is increased to 3.36 LPA after completion of the ILP.
Q2: What percentage hike can I expect in TCS after 1 year?
The hike after 1 year depends on your FAR rating given by the supervisor. For a 5 rating, you can expect a 12% hike. For 4 rating, it is 10% and for 3 rating it is 8%.
Q3: What is the salary of TCS employee after 5 years?
The salary after 5 years depends on your promotions and rating. It can be between 6-9 LPA for an employee starting as a fresher and consistently getting good ratings.
Q4: How many promotions are there in TCS?
There are periodic promotions in TCS like Associate Software Engineer, Software Engineer, Senior Software Engineer, Module Lead, Project Manager etc. Promotions depend on performance.
Q5: What allowances and benefits are provided by TCS?
TCS provides allowances like health insurance, life insurance, retirement benefits, paid leaves, performance bonus etc. It also offers flexible work hours and career development opportunities.
Q6: Does TCS provide quarterly bonuses?
Yes, TCS provides quarterly performance bonuses to employees based on their ratings and the company's overall performance.
