The employees of Infosys, the second largest IT company in the country, received salary increases on Friday, November 1, after a 5month delay.
The increases aren’t uniform, though. Workers who started at lower levels of the organization after October 2021 have been excluded. Likewise, employees at the manager level who started working after October 2021 are not included in the list. Nevertheless, about 60% of the workforce is protected. A portion of the employees Fe spoke with said the hikes ranged from 7% to 10%.
An Infosys representative was contacted but declined to comment. IT companies typically raise salaries in July, the second quarter of the fiscal year, which begins on April 1st and runs through the end of April. Nonetheless, practically all IT companies this year postponed raises during that time.
In fact, during the salary revision process, which could happen this month, Wipro is probably not going to give raises to top performers who fall into the higher salary bracket. Among those who qualify for a raise, it is probably going to give preference to workers who make less money.
HCLTech later announced that it will forgo senior employee compensation for this fiscal year after first postponing salary increases from the second to the third quarter.
Accenture, a US-based IT major, stated in October that it will not be providing salary increases to its employees in Sri Lanka and India this year, with the exception of a few critical skill areas & situations where it is required by law.
At the start of FY23, the company told its staff that it was facing a macro environment that was more difficult than expected, and that growth had fallen short of expectations. It further stated that as a result, the company had to make some difficult choices regarding rewards and promotions.
