Infosys, India’s second-largest IT company, will implement salary hikes from November 1. The decision was announced by the company’s CFO, Nilanjan Roy, during the second quarter earnings call. This cycle was deferred by nearly two quarters, as Infosys typically announces salary hikes in June/July,
which take effect from April. The focus of this compensation review cycle will be on tenured employees and high performers. This means the company aims to reward both loyalty and performance among its workforce. The CFO explained that the delay in implementing the hikes was to counter inefficiencies within the
company and noted a 50 basis points improvement in margins due to cost optimization efforts. In the IT industry, Tata Consultancy Services (TCS) was the first to roll out salary hikes, offering 12-15 percent for
top performers in the first quarter of fiscal year 2024, while Wipro plans to roll out hikes effective from December 1 after
deferring them from the second quarter.