Infosys likely to start rolling out pay hike letters in February
Infosys is set to roll out its annual pay hikes from February, ushering in the New Year on a happy note for its employees.
The country's second largest software exporter will hand out letters to employees falling at job level five (JL5) and below next month with the raise effective retrospectively from January 1. Those at JL6 and above will receive their letter in March with the hike taking effect from April, a senior company executive told employees at an Infosys Validation Services unit (IVS unit) town hall on Friday, people briefed on the subject told ET.
Track leads are at JL5 while those below that include software engineers, senior engineers, system engineers and consultants. The JL6 and above include managers, senior managers, delivery managers and senior delivery managers, but excludes vice presidents. The implementation of the pay hike is in line with what Infosys CFO Jayesh Sanghrajka told analysts at the earnings call on October 17. He had said the hike was going to be in two phases, with junior employees getting it in January, and the rest in April.
The hike is for the appraisal period from September 2022 to October 2023, for which eligible employees received their rating letters in December 2023.
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