What is the thumb rule for hike. Is there any specific range

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Its all system generated by HR based on benchmarking. Nobody can really change it much.

I heard that hike is not dependent on performance. Its only depend on your role and your band pay. Is it correct?

Not only that, if you have joined at lower base, you will always be at lower base. Doesn't matter how hard you work compared to others who somehow were able to join at higher base and now just coasting.

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