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Employees at job level five (JL5) will receive their salary hike letters in February, with the increment applied retroactively from January 1. For those at job level six (JL6) and higher, the letters will be distributed in March.
Infosys Salary Hike: This round of pay hikes corresponds to the appraisal period from September 2022 to October 2023.
Infosys, which is set to announce its Q3 FY25 earnings on Thursday, is expected to roll out annual salary hikes starting February, according to reports. It aligns with the country’s second-largest IT company’s prior communication regarding pay increments.
Employees at job level five (JL5) will receive their salary hike letters in February, with the increment applied retroactively from January 1. For those at job level six (JL6) and higher, the letters will be distributed in March, with the hike taking effect from April, according to an Economic Times report.
JL5 roles typically include track leads, while software engineers, senior engineers, system engineers, and consultants fall below this level. JL6 and higher roles encompass managers, senior managers, delivery managers, and senior delivery managers, excluding vice presidents.
During an Infosys Validation Services (IVS) unit town hall last week, a senior company executive reportedly shared these details with some employees.
This round of pay hikes corresponds to the appraisal period from September 2022 to October 2023. Eligible employees received their ratings in December 2023. Typically, employees receive their increment letters in June for hikes effective from July, but this was delayed in 2024. The previous compensation revision came into effect on November 1, 2023.
Infosys had frozen salary hikes in FY2022 to conserve cash and started its annual appraisal cycle starting in October 2023 releasing a salary revision letter for the last salary cycle in December 2023.
Meanwhile, Infosys will announce its Q3 FY25 financial results on Thursday post-market hours and is expected to post revenue growth in the range of 0.5 per cent to 1.0 per cent on a quarterly basis. It might register revenue of Rs 41,298 crore in rupee terms and a flat $4,895 million in US dollar terms for October-December 2024, according to brokerage estimates.
In the previous September 2024 quarter, Infosys had posted a net profit of Rs 6,506 crore and revenue of Rs 40,986 crore. These were below estimates.
In terms of net profit, Infosys is expected to post a 3.8 per cent rise quarter-on-quarter in profit after tax to Rs 6,753 crore in Q3 FY25, compared to Rs 6,506 crore in the previous period.
