One of the major IT service companies of India, Infosys is asked to issue annual increment letters to their employees by the end of March. People familiar with the matter told the Economic Times, the company is currently working on finalizing the amendments of compensation based on the performance reviews and recommendations from its delivery units.

Shaji Mathew, Chief Human Resource Officer of Infosys, recently addressed the employees during a Town Hall meeting in the Bengaluru campus. He shared that the job level 5 (JL5) and below employees will get effective salary increase from 1 January. Job Level 6 (JL6) and higher will be kicked their revised salary from April 1.

Matthew also indicated that the performance ratings have already been informed to employees, and these assessments will play an important role in determining the percentage of individual salary hikes. However, he did not specify the details about the overall evaluation cycle period.

Last year, Infosys did not release the compensation letter in June for the hike starting in April, a practice in the previous years. The company’s final salary amendment took place in November 2023 after the salary freeze for the conservation of cash during FY 22. The evaluation cycle resumed in October 2023 with salary modification letters issued in December for that cycle.

The new announcement last month aligns with the previous comments made by Infosys CFO Jayesh Sanghjaka during the company’s earnings call last month. Sanghjaka mentioned that employees in India may expect a 6-8 percent increment, while they would see a slight increase as per the earlier trends abroad. He said that high artists can expect a large increment.

The company is likely to implement salary hike in two phases-one from 1 January and second from April 1. Senior level employees in the JL6 category and the subsequent version will see an increase in their salary related to the revenue performance of Infosys.