Business/Economy

Infosys rolls out mid to high single-digit salary hike,alongside special bonus pool

Infosys rolls out mid to high single-digit salary hike,alongside special bonus pool

IT services major Infosys said it has rolled out salary hikes ranging from "mid-single digit to high-single-digit" for the majority of its employees, effective from April onwards.

Infosys COO Pravin Rao said, “We are also pleased to announce compensation revision for 85% of our employees starting April. For rest of the employees, primarily middle management and senior management, it will be effective July 1. This is for both onsite and offshore.”

It has also created a special bonus pool of US$ 10 million that will be paid to employees in addition to their variable pay that has also been increasing over the past quarters.

According to Rao, similar to last year, there will be much more focus on differentiation based on performance and contribution. He said, “Majority of employees in India will get raises from mid-single digit to high-single digit.”

Infosys had a total headcount of 2,04,107 people at the end of 31 March 2018.While the gross addition stood at 12,329 people, the net addition was of 2,416 employees.

Besides, the Board has appointed independent director Kiran Mazumdar-Shaw as the lead independent director of the board. Rao said the attrition at the company for the March quarter had increased to 16.6% as compared to 15.8% in the previous quarter.