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.
ETtechTrack 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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Employees usually receive their hike letters in June for hikes effective in July, but that did not happen in 2024, said industry insiders who requested not to be identified. The last increase in compensation at Infosys was effective November 1, 2023.
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Infosys did not respond to an email seeking its comment. The company is in a silent period as its third quarter results are scheduled for announcement on January 16.
(With inputs from Beena Parmar)
