Infosys Gives 5 Per Cent Average Increment

Infosys is giving an average salary increment of 5 per cent to its employees in India, similar to that offered by Wipro. The revised compensation effective July is for employees in job level 6 (managers, software engineers) and below. The increment is normally effective April, but performance pressures appear to have made the company defer it by a quarter. The increment is also lower than the 6-12 per cent that it granted last year.

For senior executives (job level 7 and above), no increments have been granted, though sources said the company may consider it later in the year.

Under its new performance management system iCount, Infosys has moved away from the bell curve and is focusing on individual employee contribution and continuous feedback. Sources told TOI that high performers would get increments in the 10 per cent-12 per cent range. Infosys CEO Vishal Sikka said recently that attrition among top performers is in single digits.

Wipro has given an average salary increase of about 5 per cent to its employees in India, way below the increase of 9.5 per cent that it gave last year.

The Indian IT sector is going through challenging times as clients want to partner with digital change agents and not just maintain their servers and manage applications, which is what has been the sector's strength. This, along with protectionist concerns in the US, has resulted in a significant slowdown in business growth.