Infosys to roll out 6-8% annual hikes in India from January; overseas raises in the low single digits.
Infosys will roll out 6-8% annual hikes in India starting in January; overseas raises will be in the low single digits.
Starting in January 2025, the information technology services giant Infosys will increase annual salaries by 6-8 percent for its employees in India. This will be the first phase of its planned salary revisions, with the second starting in April 2025.
"Broadly, the comp (annual salary increment) that we are expecting is 6-8% in India, and the overseas comps will be in line with the earlier comp reviews," Infosys' Chief Financial Officer Jayesh Sanghrajka said while addressing the press after declaring the third quarter results ending December 31, 2024 (Q3 FY25).
"Broadly, the comp (annual salary increment) that we are expecting is 6-8% in India, and the overseas comps will be in line with the earlier comp reviews," Infosys' Chief Financial Officer Jayesh Sanghrajka said while addressing the press after declaring the third quarter results ending December 31, 2024 (Q3 FY25).
Infosys employs more than 3.23 lakh professionals.
On January 5, Moneycontrol reported that India's second-largest IT company had deferred annual wage increases until the fourth quarter of the current fiscal year (Q4FY25). The Bengaluru-based company last raised salaries in November 2023.
Typically implemented earlier in the year, the wage hike delay reflects the overall uncertainty in the global demand environment, particularly for discretionary IT services. IT companies are under pressure from low discretionary spending, delayed client budgets, and ongoing macroeconomic uncertainty.
On January 5, Moneycontrol reported that India's second-largest IT company had deferred annual wage increases until the fourth quarter of the current fiscal year (Q4FY25). The Bengaluru-based company last raised salaries in November 2023.
Typically implemented earlier in the year, the wage hike delay reflects the overall uncertainty in the global demand environment, particularly for discretionary IT services. IT companies are under pressure from low discretionary spending, delayed client budgets, and ongoing macroeconomic uncertainty.
Salaries, on the other hand, will be consistent with previous compensation reviews, with low single-digit increments for employees based outside of India.
"Of course, top performers would get much bigger raises, etc. Most employees will see salary increases in the fourth quarter," Chief Executive Officer Salil Parekh told analysts after announcing the Q3 results.
Nonetheless, the IT major's Q3FY25 net profit increased 11.4 percent year on year, exceeding Street expectations, to Rs 6,806 crore from Rs 6,106 crore in the previous year period. According to a Moneycontrol poll of nine brokerages, the IT major's Q3FY25 profit was Rs 6,734 crore, with revenue of Rs 41,206 crore.
Infosys' revenue from operations increased by 7.5% to Rs 41,764 crore in Q3FY25, up from Rs 38,821 crore in Q3FY24.