Infosys Salary Hikes for All Employees
Infosys, one of India’s top IT companies, has announced salary hikes for its employees ranging from 5% to 8%. This year, the focus is more on rewarding employees based on their performance, rather than just their tenure, which was a key factor in past appraisal cycles.
Performance-Based Pay Increases
In a recent town hall, Infosys Chief HR Officer, Shaji Mathew, shared that salary hike letters will be given out before the end of the current financial year. The pay increases will be applied broadly across junior, senior, and mid-level employees. The mid-level salary hikes will be implemented in two parts, starting from January.
Double-Digit Hikes for Top Performers
Top-performing employees at Infosys will receive double-digit salary increases as part of the company’s effort to reward the best performers. These top performers, along with employees in senior roles like Associate VP, SVP, and EVP, are expected to see additional pay hikes in April 2025.
Details from Infosys CFO
Infosys Chief Financial Officer, Jayesh Sanghrajka, mentioned that the average salary increase for employees in India would range from 6% to 8%. The company resumed its annual salary appraisal cycle in October 2023 after pausing it in FY 2022 to save cash. Salary hikes were then resumed in November 2023.
Hiring Plans and Employee Growth
Infosys is also continuing its hiring plans. In this quarter, the company plans to hire 15,000 freshers and aims to recruit 20,000 fresh graduates in the next financial year (2025-26). The total number of Infosys employees grew to 323,379, with 5,591 new hires added in the December quarter.
Attrition Rate and Company Performance
However, Infosys saw a slight increase in its attrition rate, rising to 13.7% in the December quarter, up from 12.9% in the previous quarter. Despite this, the company reported strong financial performance. In the October-December quarter, Infosys saw a net profit increase of 11.4%, reaching $800 million, while its revenue grew by 7.6% to $4.9 billion.
Infosys is making significant moves to reward its employees, focusing on performance-based salary increases. With a strong financial performance and plans for continued hiring, Infosys is ensuring growth for both its business and its employees.
