Business
Accenture Freezes Salary Hikes, Offers 26% Bonuses. Once.
The Take
Accenture froze salary hikes for India employees. The firm offered bonuses up to 26 percent instead. A bonus pays once. A hike compounds forever. Staff celebrated the lump sum. Finance celebrated harder. The memo called it splitting the hike. Accountants call it splitting the difference. The base salary stays flat. Next year starts from the same number.
The Wire
Accenture has frozen salary hikes for its India employees but will pay bonuses of up to 26 percent, per Education Times and Indian Startup News. The company sent a memo to its over seven lakh employees worldwide saying it is splitting salary hikes between base pay and a lump-sum payout, per the Times of India. The bonus goes to qualifying staff.
The receipts
Source: Education Times