IT firm Mastek Ltd today said it will increase wages by up to 20 per cent for its junior-to-mid level employees in an effort to retain and attract superior talent.
The company has decided upon a wage hike for its junior-to-middle level employees in the delivery, sales, and support functions, Mastek said in a filing to the Bombay Stock Exchange.
The revised compensation would come into effect starting July 1, 2010, as the company follows a July-to-June financial year.
The average increase in wages for employees is likely to be 20 per cent for those on offshore locations and around 3.5 per cent for employees at onsite locations, the filing added.
Shares of Mastek were trading at Rs 230.75 on BSE, down 1.95 per cent from the previous close.
