Infosys’ offshore staff get 6.5% pay hike

Infosys, the country’s second largest IT services exporter, has announced a salary hike of 6.5 per cent for its offshore employees and two per cent for its onsite employees, effective April 1.

High performing offshore employees will receive up to 9 per cent hike.

This year’s salary hike is almost similar to what Infosys had announced last year – six to seven per cent for its offshore employees and one to two per cent for onsite employees.

“Compensation revisions are being rolled out in 55 countries across the globe, effective April 1. Offer letters for offshore employees will be rolled out beginning March 27 and the letters for onsite employees be rolled out beginning April 24,” a spokesperson said.

“The industry trend this financial year prepared me not to expect a double-digit salary hike. Therefore, I was not disappointed with the single digit salary increase” said an Infoscion.

Infosys has been reeling under growing attrition rates, which touched a high of 20.4 per cent in the third quarter.

One of the initiatives that the company took up under the leadership of Vishal Sikka to retain its employees was to re-work the way it promotes high performers by introducing quarterly promotion cycles across job levels in delivery, sales and business-enabling functions.

Infosys promoted 10,000 employees in the second and third quarters of financial year 2015 with a total tally of a little over 12,000 promotions from April 2014 to date.

The company will soon announce promotions for the current (fourth) quarter of FY2015.