Infosys, a leading IT services company, has increased salaries for its employees. The salary hikes range from 5% to 8%, based on performance. Employees in Job Level 5 and Job Level 6 will receive the hikes.
Job Level 5 employees will get their salary hikes retroactively from January 1, 2024. Job Level 6 employees will see their revised salaries from April 1, 2024. Performance is categorized into four levels: outstanding, commendable, met expectations, and needs improvement.
Employees who met expectations received a 5-7% increase. Those with commendable performance got a 7-10% hike. Outstanding performers saw increments ranging from 10-20%. Employees rated as needing improvement did not receive a hike.
Compared to the last salary revision in November 2023, the recent hikes are 5-10% lower. Despite this, Infosys continues to perform well financially. The company reported an 11.4% increase in net profit and a 7.6% growth in revenue for the October-December quarter.
