Infosys Salary Hike 2023 Latest News Today India: India’s Tech Giant Infosys has initiated the holiday season by distributing salary revision letters to a significant number of its employees on Friday, lifting spirits amid a period of sluggish demand for technology services worldwide within the information technology sector. The salary adjustments, traditionally effective from April 1, have now been disclosed to take effect from November 1, 2023, ET quoted sources in its report.
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The employees were informed, “We are pleased to revise your compensation in acknowledgment of your commitment and performance with effect from November 1, 2023.”Infosys typically announces compensation reviews in June with retroactive effects from April 1. However, in 2023, management delayed the announcement, ET report added.
Infosys Salary Hike 2023 Latest News
The compensation review program pertains to the fiscal year 2023-24, according to company statements. The email expression of gratitude to employees also acknowledges their “unparalleled support and efforts to overcome the current challenges and ensure success in all aspects.”
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Infosys Salary Hike 2023 Latest News: Average Pay Revision
The anticipated average hike this time is expected to fall below 10 per cent. Several employees have received single-digit increases, with some in the low double digits, resulting in an average hike projected to be under 10 per cent, as per ET report.
These letters were dispatched a day prior to the ‘Stellar Saturday Culture Carnival’ event, a mega gathering Infosys is organizing for employees on December 16 at its twelve campuses across India. An Infosys spokesperson did not respond to requests for comment.
Infosys Salary Hike 2023 for Freshers
Notably, the revisions do not encompass entry-level personnel at the IT services giant, as per ET report.
