Looking for your opinion- which offer is best to accept 40% hike in home location (kolkata) by Wipro or 65% hike in Hyderabad by Cognizant.

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Depends on what important to you , personally i would take the home option .

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You can ask Cognizant to provide your preferred location. Companies won't lose a candidate just because of location constraint.

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Only 40% now a days, are you already in high cap?

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