Employees at job level five (JL5) will receive their salary increase letters in February, with the increments applied retroactively from January 1.
Infosys Q3 Results
Infosys, which on Thursday announced better-than-expected Q3 FY25 earnings, is expected to see an annual salary hike from January, according to latest reports. This is in line with earlier discussions regarding a salary hike at the country’s second-largest IT company.
Employees at job level five (JL5) will receive salary increase letters in February, with increments applied retroactively from January 1. According to one, effect from April Economic Times Report
JL5 roles typically include track leads, while software engineers, senior engineers, systems engineers, and consultants fall below this level. JL6 and higher roles include 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 executive of the company reportedly shared these details with some employees.
This salary increase period corresponds to the evaluation period from September 2022 to October 2023. Eligible employees received their classification in December 2023. Normally, employees receive their raise letters in June that are effective from July, but this has been delayed to 2024. The remuneration revision came into effect on 1 November 2023.
Infosys had frozen pay hikes in FY2022 to conserve cash and had issued a pay revision letter for the last pay cycle in December 2023, the start of its annual appraisal period starting from October 2023.
Infosys’ strong Q3FY25 performance
Despite the challenges, Infosys It reported an 11.4% year-on-year rise in its net profit to Rs 6,806 crore for Q3FY25 compared to Rs 6,106 crore in the same quarter last year. The results exceeded Street expectations.
The company’s revenue from operations also rose 7.5 percent year-on-year to Rs 41,764 crore during October-December 2024, from Rs 38,821 crore in the year-ago period.
Infosys also cut its CC revenue growth guidance for FY25 to 4.5-5 percent for the third consecutive quarter, as against its previous guidance of 3.75-4.5 percent.