Infosys to roll out salary increments; Exceptional performers to get 10-12% hike: Report
Infosys will offer allowances and other benefits for employees in the taxable income bracket to compensate for the lower salary increment
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Software giant Infosys is reportedly planning a hike in salaries between 5 percent to 8 percent. Infosys has classified the performance into four categories: outstanding, commendable, met expectations, and needs improvement.
According to a report by Moneycontrol, the exceptional performers will receive salary hikes of about 10-12 percent. The Bengaluru-based company has already rolled out salary hikes to employees in band JL6 and belo, effective from April 1.
The report mentioned that Infosys will offer allowances and other benefits for employees in the taxable income bracket to compensate for the lower salary increments.
During the Quarter 3 earning call for fiscal year 2025, Jayesh Sanghrajka said that Infosys' comp roll-out will happen in two phases. "The first phase starts 1st January and the second phase will start from 1st April. The Indian wage increases would be, on average, 6% to 8%. Of course, the higher performers would get much higher, etc., and the overseas would be low single digit," Sanghrajka added.
This month, Infosys received a barrage of criticism for sacking more than 350 trainees who failed to clear internal assessment.
Subsequently, Karnataka Labour Minister Santosh Lad on Thursday pulled up the management of the Infosys Mysore campus.
The Labour Ministry had directed the Karnataka labour commissioner to investigate Infosys’ termination of the trainees.
Infosys management officials said that freshers were underperforming consistently and fared low marks in the internal assessments, which led to their termination.
The minister challenged the industry's practice of aggressive hiring while keeping thousands of candidates on the bench, only to slash the workforce when projects decline. He questioned why IT firms were not taking the initiative in skilled workers. The IT officials acknowledged the need for better skilling programmes but added that the policy landscape needs clarity.
