Average salaries at Wipro, Tech Mahindra reduces 1st time in 8 yrs
Wipro and Tech Mahindra reported their first simultaneous drop in median salaries in eight years, driven by hiring more freshers and lower-cost replacements. Wipro median salary fell to ₹9.78 lakh and Tech Mahindra to ₹18.3 lakh for males. Despite declining revenues, both firms boosted operating margins by cutting wage costs amid leadership churn and changing workforce strategies.