Infosys likely to start rolling out pay hike letters in February

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Infosys is set to roll out its annual pay hikes from February, ushering in the New Year on a happy note for its employees.

The country’s second largest software exporter will hand out letters to employees falling at job level five (JL5) and below next month with the raise effective retrospectively from January 1. Those at JL6 and above will receive their letter in March with the hike taking effect from April, a senior company executive told employees at an Infosys Validation Services unit (IVS unit) town hall on Friday, people briefed on the subject told ET.

Screenshot 2025-01-13 002759ETtech

Track leads are at JL5 while those below that include software engineers, senior engineers, system engineers and consultants. The JL6 and above include managers, senior managers, delivery managers and senior delivery managers, but excludes vice presidents. The implementation of the pay hike is in line with what Infosys CFO Jayesh Sanghrajka told analysts at the earnings call on October 17. He had said the hike was going to be in two phases, with junior employees getting it in January, and the rest in April.

The hike is for the appraisal period from September 2022 to October 2023, for which eligible employees received their rating letters in December 2023.

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Employees usually receive their hike letters in June for hikes effective in July, but that did not happen in 2024, said industry insiders who requested not to be identified. The last increase in compensation at Infosys was effective November 1, 2023.

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Infosys did not respond to an email seeking its comment. The company is in a silent period as its third quarter results are scheduled for announcement on January 16.

(With inputs from Beena Parmar)



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Infosys likely to start rolling out pay hike letters in February


Infosys is set to roll out its annual pay hikes from February, ushering in the New Year on a happy note for its employees.

The country’s second largest software exporter will hand out letters to employees falling at job level five (JL5) and below next month with the raise effective retrospectively from January 1. Those at JL6 and above will receive their letter in March with the hike taking effect from April, a senior company executive told employees at an Infosys Validation Services unit (IVS unit) town hall on Friday, people briefed on the subject told ET.

Screenshot 2025-01-13 002759ETtech

Track leads are at JL5 while those below that include software engineers, senior engineers, system engineers and consultants. The JL6 and above include managers, senior managers, delivery managers and senior delivery managers, but excludes vice presidents. The implementation of the pay hike is in line with what Infosys CFO Jayesh Sanghrajka told analysts at the earnings call on October 17. He had said the hike was going to be in two phases, with junior employees getting it in January, and the rest in April.

The hike is for the appraisal period from September 2022 to October 2023, for which eligible employees received their rating letters in December 2023.

Growfast

Employees usually receive their hike letters in June for hikes effective in July, but that did not happen in 2024, said industry insiders who requested not to be identified. The last increase in compensation at Infosys was effective November 1, 2023.

Discover the stories of your interest

Infosys did not respond to an email seeking its comment. The company is in a silent period as its third quarter results are scheduled for announcement on January 16.

(With inputs from Beena Parmar)



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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