Marginary Salary hike for CTS senior management
It has been a tough year for the IT industry as most of them lost jobs due to recession once again. The most affected company was Cognizant. However, this resulted in a muted increase in compensation for the senior management at Cognizant Technology Solutions.
CTS CEO Francisco D'Souza's annual compensation increased from $11.951 Million in 2015 to $12.030 Million. Rajeev Jain who is the president of CTS received $7.09 Million against $6.54 Million in 2015. 2016 has been so hard on IT services as all companies data-face challenges due to H1B Visa.
Even Infosys had said that CEO Vishal received 60% of the salary he was eligible for as the targets were not met. On a shocking note, Cognizant also indicated that it would cut more jobs as part of its annual appraisal process.