Infosys salary hike: Good news for Infosys employees! Salary increase letter soon..
Good news for Infosys employees who have been waiting for salary hike for a long time! It seems that the salary hike letters will soon reach the hands of the employees. According to various reports, Infosys is likely to introduce annual salary increases in February 2025. Will know in full details..
Increase in salary of Infosys employees
Infosys, which has put salary hikes on hold for financial year 2021-22 to save cash, has started the annual appraisal cycle in October 2023. Finally.. the salary increment process of Infosys employees came into effect on 1 November 2023. This assessment period is from September 2022 to October 2023. Employees received rating letters in December 2023. Generally letters for increases are received in June which will be effective in July.
According to a report, for the current situation, Infosys is likely to start the annual salary hike in February 2025. According to this, Job Level 5 (JL5) employees are likely to receive the appraisal letter first.
According to a report in Economic Times, this salary increase will be effective from January 1. Job Level 5 (JL5) employees will receive their letters in February. Those at JL 6 and above will receive letters in March.
The company has not yet given any official statement on the news of salary increase. An update is likely to come soon.
JL5 includes software engineers, senior engineers, systems engineers and consultants.
The levels JL6 and above include Manager, Senior Manager, Distribution Manager and Senior Distribution Manager. Vice Presidents have been excluded here.
Infosys Business Update..
As far as Infosys’ business is concerned, the company will benefit greatly from the fall in the rupee. Although revenues remain soft, margins are expected to improve with the depreciating rupee.
According to Bloomberg data, the rupee is currently trading at 86.39 against the dollar. The rupee has continued to fall for the last few days.
IT giant Infosys has offered an average performance bonus payout of 85% to eligible employees in the second quarter of 2024-25. This is slightly higher than the first quarter (80% average payout).