You are here: Home » Companies » News
Business Standard

Infosys to roll out salary hikes from Jan 2021, incentives to junior staff

India's second-largest IT services firm Infosys on Wednesday said it will roll out salary hikes and promotions across all levels effective January 1

Infosys  | Salary hike  | Infosys salary hike

Press Trust of India  |  New Delhi 


India's second-largest IT services firm on Wednesday said it will roll out salary hikes and promotions across all levels effective January 1.

is also giving 100 per cent variable pay, along with a special incentive for the second quarter. The Bengaluru-based company has 2,40,208 employees at the end of September 2020 quarter.

"Recognising the continuing stellar commitment from our employees during these times, we are paying out variable pay for the quarter at 100 per cent. We will pay a one-time special incentive in Q3 for our junior employees," CEO and MD Salil Parekh said during a virtual briefing.

The process will restart now and will be effective on January 1, 2021, he added.

"We restarted promotions in the last quarter at our junior levels, and this will now be expanded to all our levels," Parekh said.

Infosys had earlier said it was suspending promotions and pay hikes amid the epidemic-led slowdown in business but would honour all the job offers it had made.

Infosys COO Pravin Rao said the quantum of salary hikes will be identical to those seen in previous years.

Last year, the average wage hike by Infosys in India was around 6 per cent, while it was 1-1.5 per cent outside the country.

In the September 2020 quarter, Infosys added 975 people. Its voluntary attrition for IT services on an annualised basis declined to 7.8 per cent as compared to 18.3 per cent in the year-ago period.

Rao said attrition has come down significantly than what is typically seen around this time of the year.

He added that this was on account of multiple factors, including the steps taken by the IT major towards employee engagement and safety during the pandemic.

Infosys on Wednesday said its consolidated net profit grew by 20.5 per cent to Rs 4,845 crore for the September 2020 quarter, while its revenues rose 8.5 per cent to Rs 24,570 crore over the year-ago period.

The company has also revised its guidance upwards to 2-3 per cent growth in FY21 in constant currency terms from its previous outlook of up to 2 per cent growth in topline.

"Increase in revenue and margin outlook for FY21 is due to the continued trust clients have in us," Parekh said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 14 2020. 19:03 IST