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Techmahinda folks don't remember when their last appraisal happened nor do they have any clarity on when will it happen next. If you friend is ok to be in this soup and be at 18 LPA or marginal increament for the next couple of years, then techm is fine. On the other hand Accenture is quite aggressive and timely in giving the appraisals. So the choice should be easy.
Ask her to jlin TechM.. but remember TechM I not a company for long term stay.. she can move out after few years as there will not be further hikes..
Ask her to join Techmahindra very cool work place and hikes always depends on the project.
Do read Tech Mahindra offer carefully, one of my frnd got similar kind of offer but it was of BPS not IT.
The margin is too less. First appraisal won't be so good for sure.. may be 30-40k might increase in total CTC. I got 3 hikes in last 5 years. So hike is not regularly given in TechM..