New Delhi: Infosys has reportedly announced a 90% variable pay for eligible employees in the second quarter (Q2) of the fiscal year, following better-than-expected financial results. The announcement was communicated via email to eligible employees of the company, with individual payout percentages varying based on each employee's performance and contributions during the quarter.
“In Q2, we delivered a strong performance with broad growth, reinforcing our market leadership. This success is a testament to your unwavering dedication, our strategic focus on margin performance and our industry-leading expertise in Cloud and Generative AI. Your commitment has been instrumental in building our capabilities and delivering exceptional value to our clients. Thank you for your invaluable contributions, we look forward to a future with endless possibilities with you,” the email read.
Infosys Bonus: When Will The Amount be Credited?
Infosys has confirmed that the performance bonuses for the second quarter will be credited alongside the November salary.
Eligibility for Infosys Performance Bonus
The performance bonuses at Infosys are distributed to employees in the E6 band and below, which includes those in mid-level and junior positions.
At Infosys, employees are classified into different bands: E0 to E2, which includes freshers and technical leaders, while the E3 to E6 band encompasses employees in mid-level roles. Those in the E7 band and above are considered senior-level staff.
In line with its new approach, Infosys has once again refrained from disclosing unit-specific average performance payouts in individual emails to employees. This is likely aimed at minimizing any potential dissatisfaction or comparisons among staff members.
Building on its strong Q2 performance, Infosys also raised its revenue growth forecast for FY 2024-25 to 3.75-4.5% in constant currency terms, up from the previous 3-4% projection. The company reported a 4.3% sequential revenue growth, reaching ₹40,986 crore for the quarter ending September 2024.
Meanwhile, Tata Consultancy Services ( TCS ) reduced its variable pay for employees in the same quarter.
