Infosys, the third-largest provider of IT services in India, started raising wages on February 24. The pay increases ranged between 5 and 8 percent. Beginning on April 1, employees in band JL6 and lower will get pay increases.
In addition, outstanding achievers were given pay increases of roughly 10–12%. Performance is divided into four categories by the Bengaluru-based organization: outstanding, commendable, met expectations, and needs improvement.
The services giant Infosys announced on January 16 that it will begin raising the salaries of its Indian workers by 6–8% annually beginning in January 2025. The second phase of the hikes was scheduled to start in April 2025.
The majority of leading IT firms, with the exception of Tata Consultancy Services (TCS), postponed their usual early-year wage rise cycles in FY25. Salaries make up a significant amount of labor costs for businesses, and by postponing them, they hope to maintain their margins in the face of uncertain discretionary spending and a difficult demand environment.
Reports claim that in order to make up for lower wage hikes, the corporation will provide taxable income-bracket employees with allowances and other bonuses. With more than 3.23 lakh professionals working for it, Infosys last raised salaries in November 2023.
While addressing the press after declaring the third quarter results ending December 31, 2024, Infosys’ Chief Financial Officer Jayesh Sanghrajka said "Broadly, the comp that we are expecting is 6-8% in India, and the overseas comps will be in line with the earlier comp reviews,"
Speaking to analysts following the release of the Q3 results, Chief Executive Officer Salil Parekh said that most staff will get salary hikes in the fourth quarter, while high performers would receive significantly larger hikes.
