Increment Letter: Infosys announces long-awaited salary hike: Read what increment letter…

IT giant Infosyshas rolled out the long-awaited salary hike letters to employees. The increment letters were sent just a day ahead of the mega ‘Stellar Saturday Culture Carnival’ event that Infosys hosted for employees on December 16. The event was held at several of the company’s campuses across India. The salary revision letters also kick off the holiday season for some Infosys employees.
This year Infosys has announced a salary hike after months of delay in the backdrop of the sluggish demand that the company has been facing. The salary hikes are typically effective from April 1. This year these are reportedly effective from November 1, 2023.
What the salary hike letter to employees says
“We are pleased to revise your compensation in acknowledgement of your commitment and performance with effect from November 1, 2023,” said the communication sent to employees. Economic Times has seen the letter. The email communication also thanks employees for “un-paralleled support and efforts to overcome the current challenges and ensure success in all aspects.” The compensation review programme is for the year 2023-24, according to the company.
Average hike this year
The average hike this time is reported to be below 10%. “Several employees have received hikes in single digits while some are also in low-double digits. The average hike is likely to be under 10%,” multiple people aware of the development said.
Employees who have not received the increment
The salary hikes this year reportedly do not include reviews for entry level employees, according to people aware of the matter. “New entrants are not being considered for hikes this year,” a source at the company told Times of India.