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Need some advice here. I am a fullstack developer with 5 yoe in Angular and Python. My aim is to crack FAANG companies.Now I got an offer from HSBC in a credit risk model monitoring role using Python.It is close to a data engineer role.
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It's an annual hike process and from the 2023 hike/merit cycle changed effective from April'23 instead of Oct'23. Top performers, will get >8-10% for sure. One best part in Cognizant salary structure is take home will be high compared to other service based companies like infosys. Here incentive is one time basis on an annual basis and it's fixed incentive based on designation. However in other companies it's based on ℅ of overall CTC.again Top performers will get >=100% bonus/incentive after Year end APPRaiSAL based on rating.
I believe Cognizant gives fair hikes compared to other Service based Companies. Just was thinking if the upcoming recession had any adverse effects on the cycle and hike %.
Thanks again mate! Appreciate your detailed explanation.
I think there is no issue joining cognizant. Just one problem I think is the 3 months notice period you will get.. that creates problems while switching
Hike is 10 to 17 percent.
If you below performer then it may go upto 5
Even i joined at the same package and yoe.. got project after almost 2 months
Ohh, are they firing people who aren't getting projects and are on bench from a long time. Recruiter suggested me to take the project which comes in my way.
Cognizant has a good number of projects lined up and there is no shortage of projects as long as you are well equipped with your skill set. If you are not a Good performer with your skill set, better not to join Cognizant. As there are multiple resources that have joined cognizant with under performance. In a short span of 6 months, those resources are getting released from projects due to under performance. HR will ask them to resign voluntarily within 35 days from the day they were in Bench.
I understand, thanks mate. If there are good number of projects in the pipeline then no need to worry. Just have to perform well. I'm hoping there would be KT once I join the project.
Yeah, it will be there as part of Induction at Org level and Project/Account level KT also will happen. It's a general process for every employee.
Depend on band process last two year min 8% and max 17%
Thanks mate!
Do you have other offer or in pipeline? If yes then wait and join them if no then you don’t have options either you join or stay in same company. It’s your decision now a days no orc company are safe
I'm currently working in Salesforce having more CTC but in Support and wanted to move to Dev but since Cognizant is providing my preferred location and role I was thinking to join.Had also got offer from TCS but it was just 11 LPA being way below my expectations unfortunately.
Yeah, thanks again. Also wanted to ask about hikes, like how are they happening there in CTS? Is it annual or Bi-annual? Are the hike percentages good or dependent on same band process?
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Hike is yearly once once in april. If in coming days you are going to join then you can expect hike on April 2024, since until April 2023 6 month is not completed.
You can expected hike 10 to 15 per cent hike if you are not worse performer
Thanks mate for clearing my doubt.
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Manager will suck your blood for sure. They are earning the same with 10+ years experience.
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I was in cognizant for 9 years. I switched two times during COVID. Now I am getting double than my cognizant manager 😂