Infosys, one of India’s leading IT services companies, is set to release annual salary hike offers to its employees by the end of March 2025.
This announcement comes as a relief to employees who have been eagerly awaiting updates on their compensation revisions.
Employees have welcomed the news of the salary hikes, which come after delays in the previous two years.
The phased roll-out and performance-driven approach are seen as positive steps towards employee retention and motivation.
Infosys Salary Hike Details: Announcement and Background
During a recent town hall meeting at the Infosys campus in Bengaluru, Chief Human Resources Officer Shaji Mathew informed employees about the upcoming salary hikes.
The decision to issue the hike letters follows performance evaluations and recommendations from the company’s delivery units.
Infosys plans to implement the salary hikes in two phases. Employees at Job Level 5 (JL5) and below will receive their salary hikes effective from January 1, 2024.
Those at Job Level 6 (JL6) and above will have their revised salaries kick in from April 1, 2024.
The hikes will be based on individual performance ratings and the company’s overall business performance.
Expected Salary Increases and Previous Salary Revisions
According to Chief Financial Officer Jayesh Sanghrajka, Indian employees can expect a salary increase of 6-8 percent.
Overseas employees may see more modest hikes in line with earlier trends.
High performers will receive higher increments, reflecting the company’s commitment to rewarding excellence.
Infosys last revised salaries in November 2023 after a salary freeze during FY22 to conserve cash.
The appraisal cycle restarted in October 2023. Salary revision letters were issued in December for the performance period from September 2022 to October 2023.
This year’s hikes are expected to be more substantial, given the company’s better-than-expected financial results for the October-December 2023 period.
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