Indian IT major Infosys is expected to give its senior employees a pay hike in January 2019. The company has also revised its guidance upwards to 2-3 per cent growth in FY21 in constant currency terms from its previous outlook of up to 2 per cent growth in topline. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Infosys Salary Hike News Infosys Announces Salary Increment From Jan, 100% Variable Pay, Special Bonus in Dec Quarter India.com News Desk | October 14, 2020 10:51 PM IST Read latest news and live updates on Infosys-salary-hike including breaking news on Infosys-salary-hike,Infosys-salary-hike photos,Infosys-salary-hike videos and many more at cnbctv18.com. Updated: … ... For all the latest Business News, download Indian Express App. India's second-largest IT services firm Infosys on Wednesday said it will roll out salary hikes and promotions across all levels effective January 1. Last year, the average wage hike by Infosys in India was around 6 per cent, while it was 1-1.5 percent outside the country. "Increase in revenue and margin outlook for FY21 is due to the continued trust clients have in us," Parekh said. Becomes first indian IT company to give promotions. Infosys employees get 5-11% salary hike, no April-June arrears: Sources The salary hikes for FY18 had been deferred in April, amid rumours of large scale layoffs by the IT firm. The gesture of mgt. Last year, the average wage hike by Infosys in India was around 6 per cent, while it was 1-1.5 per cent outside the country. Rao said attrition has come down significantly than what is typically seen around this time of the year. "We restarted promotions in the last quarter at our junior levels, and this will now be expanded to all our levels," Parekh said. Infosys is also giving 100 per cent variable pay, along with a special incentive for the second quarter. We believe in free, fair and credible journalism. Infosys Planning Promotion, Salary Hike In Oct; 20,000 Freshers Will Join By December. Check out the latest jobs news only on Gadgetsnow.com. Information technology (IT) major Infosys will give an annual salary hike of around 6 per cent to its employees in India. In the September 2020 quarter, Infosys added 975 people. Behindwoods Infosys salary hike News. We will pay a one-time special incentive in Q3 for our junior employees," Infosys CEO and MD Salil Parekh said during a virtual briefing. It seems to be the season of salary hikes in the Indian IT sector. We, however, have a request. Last year, the average wage hike by Infosys in India was around 6 per cent, while it was 1-1.5 per cent outside the country. Net profit for the quarter declined by 1% to $482 million and by 3.5% in rupee terms to Rs 2,886 crore over the preceding quarter. New Delhi: India's second-biggest software firm Infosys on Wednesday announced that it will roll out salary hikes and promotions across all levels effective January 1, 2021.The IT major also said it is giving 100% variable pay along with a special incentive for Q2. The company said that while the pandemic certainly played a role in containing attrition, it also made several interventions like increasing engagements to address the issue. Infosys has started to … Last Updated at October 14, 2020 22:50 IST. Infosys on Wednesday said its consolidated net profit grew by 20.5 per cent to Rs 4,845 crore for the September 2020 quarter, while its revenues rose 8.5 per cent to Rs 24,570 crore over the year-ago period. The Bengaluru-based company has 2,40,208 employees at the end of September 2020 quarter. “The salary increase will be across all bands of employees and it (the quantum) will be similar to what we had done in the past,” said Milind Lakkad, chief human resource officer at the Tata Group company. Despite the business uncertainties due to Covid-19, Infosys has decided to offer salary hikes and promotions to its employees. Infosys COO Pravin Rao said the quantum of salary hikes will be identical to those seen in previous years. The salary hike process will restart now and will be effective on January 1, 2021, he added. By Malvika Gurung Last updated Sep 21, 2020. Support quality journalism and subscribe to Business Standard. Infosys is giving promotion to 1.2 lakh junior and mid level employees from September 2020. Infosys, India's second biggest IT exporter, has announced a salary hike for over 1.5 lakh employees it employs in India and overseas. Those located at in-client geographies are likely to get a raise between 1 and 1.5 per cent for the current year. Infosys salary hike Infoys Salil Parekh Salary hike Jobs coronavirus infosys latest news pandemic. 81 days ago. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Soon after the outbreak of the Covid-19 pandemic, Indian IT majors including TCS, Infosys and Wipro had decided to freeze the salary hike decision as a cautionary move. Digital Editor. Infosys To Roll Out Salary Hikes, Raises Revenue Forecast Consolidated net profit for Infosys in the September quarter climbed 26.6 per cent to Rs 4,845 crore. In the September 2020 quarter, Infosys added 975 people (net) to take its headcount to 2,40,208 employees. In the September 2020 quarter, Infosys added 975 people. Get more Companies News and Business News on Zee Business. Human Resource as an Organisational Function: The Divide between Theory and Practice In the September 2020 quarter, Infosys added 975 people. IT major Infosys on Wednesday said that it will roll out salary hikes and promotions across all levels effective from January 1, 2021. This page contains slide shows relating to various facts and events. Published Date: October 14, 2020 10:51 PM IST | Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Get latest Infosys News/Updates and Results/Analysis. During the campus placement season, expected to start soon, Infosys is looking at giving making 15,000 offers, he added. In FY20, the average wage hikes for Infosys’ employees in India was around six per cent, while it was between 1-1.5 per cent for those located overseas. Read all the latest news and updates on Infosys Salary Hike only on News18.com. Infosys, Indian IT major has said that it will not be providing salary hikes to all employees starting this fiscal. Also get Infosys Share/Stock detailed Information on Infosys along with top stories and articles on Infosys during last 6 months. Read all news including political news, current affairs and news headlines online on Infosys Salary Hike today. Topics Last year, the average wage hike by Infosys in India was around 6 per cent, while it was 1-1.5 per cent outside the country. 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Overall in FY21, Rao said, the company would induct around 16,500 freshers recruited through campus programme last year. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Soon after the outbreak of the Covid-19 pandemic, Indian IT majors including TCS, Infosys and Wipro had decided to freeze the salary hike decision as a cautionary move. With such an initiative of doubling pay packages through upskilling its own employees, there will be an eye on the employee benefit expenses of Infosys, going forward. Top Searches : Realme Narzo 20 Pro Review; ... (consolidated relative ranking) 1+, the top performers, are eligible for a 10% salary hike. In the September 2020 quarter, Infosys added 975 people. BANGALORE: Infosys' revenue rose moderately in the June quarter, but at the cost of profit, which took a hit partially on account of salary increases. Infosys  | TCS, Bibhu Ranjan Mishra  |  The second-biggest software firm Infosys Ltd has posted a 20.5 per cent hike in its net profit for the quarter ending September 30. 13 Comments on this Story. Kindly visit the Manage my subscription page to discover the benefits of this programme. However, the improved performance and better visibility have now prompted many of them to take a relook at the decision. Iyer Venkatakrishnan. This is in line with dwindling growth rate of the industry and re-skilling of IT professionals as a business need. Live Blog. While announcing its Q2 earnings, Wipro on Tuesday also said it is considering offering increments to junior employees hired through campus recruitment programmes, while it said 80 per cent of employees would be considered for promotions, based on eligibility. 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