Latest news with #AjayVij
India.com
23-05-2025
- Business
- India.com
This IT firm to promote 15000 employees in India alone, 50000 worldwide, not Ratan Tata's TCS or Narayana Murthy's Infosys, but it is…
IT giant Accenture is set to promote around 15,000 employees in India in June 2024. This promotion is part of Accenture's global promotion drive, under which over 50,000 employees worldwide will get advancements in their roles. Ajay Vij, the company's Senior Managing Director in India, shared this information in an internal email to employees. He mentioned that during the entire fiscal year 2024-25, more than 43,000 employees in India would be promoted. In December, Accenture did some stay-at-level (base pay) increases for some employees. Between June and December, a majority of Indian employees will have got base pay increases. 'As a reminder, bonus and performance equity decisions for those eligible will continue to be made as part of the December cycle, and we will also continue to evaluate the opportunity for stay-at-level increases at that time,' Vij added. In September 2024, the Ireland-headquartered firm permanently shifted its promotion cycle from December to June, citing better visibility of client spending and demand. 'We've now permanently shifted that promotion cycle, so we will do our big promotion cycle in June, and our smaller one in December, to better match when our clients are setting their budgets and we have better visibility, and that's what we're seeing again. 'The justification for that is clear that we'll really know IT spending and spending on our services in the budgets in January and February,' Accenture CEO Julie Sweet had said during the company's earnings call in September. Accenture is one of the largest employers in the Indian IT services sector, with over 3,00,000 staff. Its global employee count stands at 7,74,000. Accenture reported revenues of USD 64.90 billion in FY24. (With Inputs From PTI)
Time of India
23-05-2025
- Business
- Time of India
Accenture to promote 15,000 Indian employees in June, 43,000 in FY25
New Delhi, Global IT firm Accenture will promote around 15,000 employees in India as part of a global promotion drive of nearly 50,000 staff in June this year. "I am writing to share and celebrate with you that Accenture will promote almost 50,000 people around the world in June, including approximately 15,000 people in India. In total, across all of FY25, more than 43,000 of our people in India will have received a promotion," Accenture India Senior Country Managing Director Ajay Vij wrote in an internal memo to employees, seen by PTI. Accenture follows a September-August financial year. In December, Accenture did some stay-at-level (base pay) increases for some employees. Between June and December, a majority of Indian employees will have got base pay increases. "As a reminder, bonus and performance equity decisions for those eligible will continue to be made as part of the December cycle, and we will also continue to evaluate the opportunity for stay-at-level increases at that time," Vij added. Promotions and base pay increases will be internally communicated to employees between May 26-29. In September 2024, the Ireland-headquartered firm permanently shifted its promotion cycle from December to June, citing better visibility of client spending and demand. "We've now permanently shifted that promotion cycle, so we will do our big promotion cycle in June, and our smaller one in December, to better match when our clients are setting their budgets and we have better visibility, and that's what we're seeing again. "The justification for that is clear that we'll really know IT spending and spending on our services in the budgets in January and February," Accenture CEO Julie Sweet had said during the company's earnings call in September. Accenture is one of the largest employers in the Indian IT services sector , with over 3,00,000 staff. Its global employee count stands at 7,74,000. Accenture reported revenues of $64.90 billion in FY24.
Time of India
22-05-2025
- Business
- Time of India
Accenture to promote 43,000 employees in India in FY25
BENGALURU: Accenture will promote 43,000 employees in India in the 2025 financial year, marking one of the substantial increases in recent times. The company said it would promote 50,000 people globally in June, including around 15,000 people in India, according to an internal note sent by Ajay Vij, senior country managing director, Accenture in India. Tired of too many ads? go ad free now Accenture reset its promotion cycle, shifting it from December to June, citing better visibility of client demand. Due to the transition period, the earlier cycle in December rolled out 30,000 promotions to India-based employees. In the 2024 fiscal year, Accenture promoted 97,000 people globally through June 1, including 702 to managing directors and 64 to senior managing directors. Accenture follows a September-August financial year. Accenture has over 3.5 lakh employees in India out of the 8 lakh employees it has globally. Back in December, Accenture rolled out hikes focused on key growth areas and based on the market. 'In June, we will have stay-at-level (salary) increases, including many of those not covered in the December cycle and others in key growth areas. Looking across promotions and stay-at-level increases in FY25, a substantial majority of our people in India will receive a base pay increase,' Vij wrote in the note. Employees receiving promotions effective June 1 will be informed by their team leads during the May 26-29 period, while individuals receiving hikes will get their notifications on May 29. In fact, Accenture skipped salary hikes for its India-based employees in 2023. Accenture also deferred promotions to those at the levels of MDs and appointing senior managing directors (SMDs) until June last year. 'While our revenue growth improved significantly over FY24, our operating margin—how we measure profitability as a percentage of revenue—contracted compared to the adjusted operating margin for Q2 last year. We are also seeing an elevated level of uncertainty in the global economic and geopolitical environment. Given this, it is more important than ever to remain laser-focused on our clients and running our business with rigour and discipline,' Vij wrote. The note said that bonus and performance equity rollouts for those eligible will continue to be made as part of the December cycle, and the firm will also continue to evaluate the opportunity for hikes at that time.
Time of India
22-05-2025
- Business
- Time of India
Accenture's long-awaited salary hikes are here: 15,000 Indians rejoice as promotions roll out
Accenture has rolled out salary hikes between 3% and 13% for employees at Associate Manager level (Level 8) and above — its first round of raises in two-and-a-half years. The company is also set to promote nearly 50,000 staff globally this June, marking a significant morale boost after a long pause. These changes were communicated to employees earlier this week and are part of the firm's June performance review cycle. Internal documents reviewed by Bloomberg reveal that about 15,000 promotions will take place in India, 11,000 in Europe, the Middle East and Africa, and 10,000 across the Americas. This round of promotions will impact roughly 6% of Accenture's global headcount, which stands at approximately 801,000. Accenture Salary Hike: India at the heart of Accenture's growth focus As reported by Money Control, Ajay Vij, Senior Country Managing Director for Accenture in India, said in an internal email that the company will provide 'stay-at-level (base pay) increases, including many of those not covered in the December cycle and others in key growth areas.' He added, 'The majority of Accenture's workforce in India will have received a base pay increase by the end of FY25, either through promotions or stay-at-level adjustments.' Accenture expects to promote over 43,000 employees in India alone through FY25. This move aims to recognise talent in vital business units and compensate for a half-year delay in promotions, which was initially put off due to reduced demand for consulting services. Muted employee response despite double-digit increases While some employees are receiving raises in the double digits, reactions within the company have been restrained. The long gap between increments has dulled enthusiasm, despite the tangible financial benefit. Live Events The raises follow a period of stagnation, reflecting Accenture's attempts to navigate a 'volatile global business environment.' As the company noted in internal messages, the current outlook includes 'an elevated level of uncertainty in the global economic and geopolitical environment.' AI demand drives revenue, but margins under pressure The timing of these raises aligns with the company's Q2FY25 earnings, released on 20 March, where Accenture raised the lower end of its annual revenue forecast. This was largely due to increased demand for AI-integrated services in client operations — a segment that continues to expand across markets. However, the positive topline trend has not fully translated to the bottom line. Operating margins have come under pressure compared to the same quarter last year. Still, the company said it remains focused on 'disciplined execution' and helping clients lead reinvention efforts. Comparison with Indian IT peers Unlike Accenture, domestic IT majors have taken a more cautious stance. Tata Consultancy Services (TCS) has deferred its salary hikes, stating they will be rolled out 'based on business environment.' Wipro has also pushed back its wage decisions, saying they will be made closer to the actual date. In contrast, Accenture's decision signals a more proactive approach to talent retention, especially in high-growth verticals and regions like India. Despite the hikes and promotions, performance-based bonuses and equity awards will continue to follow the December cycle, Ajay Vij confirmed. Detailed promotion letters will be issued to employees between 26 and 29 May, with all related information expected to be shared on the final day. Accenture's cautious optimism is grounded in real concerns. The company cited ongoing instability in the geopolitical and economic environment. At the same time, it must contend with shrinking consulting demand and intensified scrutiny over U.S. government contracts. The internal strategy seems clear: retain key talent, reinvest in growth sectors, and brace for turbulence. Whether these hikes and promotions are enough to secure workforce satisfaction remains to be seen — but they mark a significant step forward after months of uncertainty. Economic Times WhatsApp channel )
Time of India
21-05-2025
- Business
- Time of India
Accenture announces 3-13% salary hikes for the first time in 2.5 years; 50,000 people promoted including 15,000 in India
Accenture is also promoting nearly 50,000 employees globally in June, aiming to lift staff spirits. Accenture, the global IT services giant, has announced pay hikes between 3 percent and 13 percent for staff at Associate Manager level and higher positions, marking their first raise in the last 2.5 years. Accenture is also promoting nearly 50,000 employees globally in June, aiming to lift staff spirits following a half-year postponement caused by reduced consulting service demands. According to internal documents reviewed by Bloomberg, the Dublin-headquartered technology corporation informed employees on Tuesday about the promotions, which include 15,000 staff in India, 11,000 in Europe, Middle East and Africa, and 10,000 across the Americas. The organisation acknowledged the present business climate, noting an "elevated level of uncertainty in the global economic and geopolitical environment." Also Read | 'Instead of discussing the matter...': Row erupts over India's mango exports rejection; authorities say US inspectors did not follow protocol According to a Moneycontrol report, Ajay Vij, Senior Country Managing Director, Accenture in India, announced that employees will receive stay-at-level base pay increases, which includes those not covered in the December cycle and personnel in crucial growth sectors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo He indicated through email that most of Accenture's India-based staff will get base pay increases before the conclusion of FY25, either via promotions or stay-at-level adjustments. The organisation anticipates promoting over 43,000 employees in India during FY25. The New York-listed organisation faces decreased client expenditure and increased examination of US government contracts under President Donald Trump's administration, which seeks to ensure efficient use of taxpayer funds. Based on its recent earnings report, the company has approximately 801,000 employees, indicating that the June promotions will affect roughly 6% of its total staff. Also Read | Big hit for Indians in the US! How Donald Trump's steps to curb migration, tax remittances may cost India billions of dollars Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
