Infosys salary hikes announced ahead of holiday season; here’s the likely average hike

Infosys, the second largest IT services company in India, has brought some holiday cheer to its employees by announcing salary revisions. This move comes as a much-needed morale booster for the information technology sector, which has been grappling with sluggish demand for technology services worldwide.
According to sources quoted by ET, the salary revisions, which are usually effective from April 1, will now be implemented from November 1, 2023.However, it’s important to note that entry-level workers have not be included in this review process.

In a communication sent to employees, Infosys expressed its appreciation for employees’ commitment and performance, stating, “We are pleased to revise your compensation in acknowledgement of your commitment and performance with effect from November 1, 2023.” The company also expressed gratitude for the employees’ unwavering support in overcoming challenges and achieving success.

While the exact details of the salary hikes have not been disclosed, sources suggest that the average increase will be below 10%. Some employees have received single-digit hikes, while others may see low-double-digit raises. However, the average hike is expected to remain under 10%.
Interestingly, these salary revision letters were sent just a day before Infosys’ ‘Stellar Saturday Culture Carnival’ event, that was scheduled for December 16. This event aims to celebrate the company’s vibrant culture and was held across its various campuses in India.
When approached for comment, an Infosys spokesperson remained unavailable.

It’s worth noting that the company had previously delayed the announcement of compensation reviews, which are typically made in June with retrospective effect from April 1. During the earnings conference after the first quarter, Infosys’ CFO, Nilanjan Roy, had mentioned that the possibility of annual hikes was being actively considered.
Read From ET | Salary hikes plans of Infosys
Earlier this week it was reported that Infosys is now mandating work from office at least three days a week. The decision comes after Infosys’ call for resuming work from office at least 10 days a month had received tepid response.