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Infosys announces salary hikes for mid-senior level employees

By Nithya Bose in India News, posted December 18, 2023

IT services giant Infosys is offering pay hikes to its employees before the holiday season.

The company aims to uplift morale in the IT sector, which has been facing sluggish global demand for technology services.

The salary revisions, typically effective from April 1, will now take effect from November 1, 2023.

However, entry-level workers are excluded from this review process.

Infosys told staff: "We are pleased to revise your compensation in acknowledgment of your commitment and performance with effect from November 1, 2023."

The firm also expressed gratitude for employees' unwavering support in overcoming challenges and achieving success.

While specific details of the salary hikes remain undisclosed, sources say the average increase will be below 10 percent.

Some employees are receiving single-digit raises, while others may see low-double-digit increments.

Notably, the average hike is expected to stay under 10 percent.

Interestingly, these salary revision notifications were announced a day before Infosys' 'Stellar Saturday Culture Carnival' event scheduled for December 16.

It celebrates the company's vibrant culture across its various Indian campuses.

Infosys had previously delayed the announcement of compensation reviews, typically made in June with retrospective effect from April 1.

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During the earnings conference after the first quarter, Infosys' CFO, Nilanjan Roy, had indicated active consideration of the possibility of annual hikes.

Recently, Infosys has mandated a return to office at least three days a week.

This decision follows a lukewarm response to the company's earlier call to resume office work at least 10 days a month.

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