Infosys Ltd Releases Pay Revision Letter With Average Hike of 5-8%
The Bengaluru-based company Infosys Ltd has classified performance into four categories: outstanding, commendable, met expectations and requires improvement.
Infosys Ltd: Infosys, India’s third-largest IT services company, started implementing salary hikes on February 24. Sources told the media that the increment ranged from 5 per cent to 8 per cent.
In addition, exceptional performers got a pay hike of around 10-12 per cent. The Bengaluru-based company Infosys Ltd has classified performance into four categories: outstanding, commendable, met expectations and requires improvement.
The salary hike for employees in band JL6 and below will be effective from April 1, 2025.
On January 16, services giant Infosys said it will implement 6-8 per cent annual salary hikes for its employees in India from January 2025. The hike was planned in phases, with the second phase scheduled to begin in April 2025.
In FY25, most top IT companies, except Tata Consultancy Services (TCS), delayed salary hike cycles, which usually happen at the beginning of the financial year. Salaries are a significant part of companies’ wage bills and by delaying it, they are trying to protect margins amid uncertainty over discretionary spending and a challenging demand environment.
According to sources, the company will provide allowances and other benefits for employees in the taxable income bracket to compensate for the lower salary hike.
Infosys employs over 3.23 lakh professionals and the last salary hike was implemented in November 2023.
“Broadly, we are expecting a 6-8% salary hike in India, and overseas salary hikes will be in line with earlier salary reviews,” Infosys Chief Financial Officer Jayesh Sanghrajka said while addressing the press after announcing results for the third quarter ending December 31, 2024 (Q3FY25).
Chief Executive Officer Salil Parekh said high performers will get significant pay hikes and most employees will see a pay rise in the fourth quarter, speaking to analysts after reporting third quarter results.
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