{"id":118377,"date":"2024-08-21T08:17:04","date_gmt":"2024-08-21T08:17:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/21\/good-news-for-infosys-employees-it-firm-gives-average-80-performance-bonus-times-of-india\/"},"modified":"2024-08-21T08:17:04","modified_gmt":"2024-08-21T08:17:04","slug":"good-news-for-infosys-employees-it-firm-gives-average-80-performance-bonus-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/21\/good-news-for-infosys-employees-it-firm-gives-average-80-performance-bonus-times-of-india\/","title":{"rendered":"Good news for Infosys employees! IT firm gives average 80% performance bonus – Times of India"},"content":{"rendered":"
\"Good<\/div>\n
Infosys, India\u2019s second largest IT services company, has started the fiscal 2024-25 performance bonus pay-outs for eligible employees, with an average of 80% for the first quarter that concluded on June 30. This move is expected to boost the morale of a significant portion of the technology workforce.
The average percentage mentioned pertains to the bonus given to employees at band six (E6) and below, who constitute the majority of the workforce at the Bengaluru-based company.
Compared to the previous quarter, which ended on March 31, when Infosys distributed an average of 60% of the targeted bonus, this pay-out represents a considerable increase. An Infosys employee, who wished to remain anonymous, told ET, “This is the best we have seen in some time.”
The bonus pay-outs for the quarter varied based on individual performance and contributions, with the heads of delivery units determining the percentages for each employee according to the allocated budget.
The email, which ET has reviewed, said, “In line with our organisational goals on building high-performance work culture, we have continued to drive performance differential while closing bonus pay-outs as well.”
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The pay-out follows Infosys’ industry-leading growth in the first quarter of fiscal 2025, where the company reported a 7.1% year-on-year increase in net profit and a 3.6% rise in revenue, outperforming its top-tier competitors.
Additionally, Infosys has raised its revenue guidance for FY25 to 3-4% in constant currency terms, attributing this decision to the resurgence of business demand and a favorable market environment over the past two quarters.
In an email to its employees, Infosys acknowledged the strong and broad-based growth achieved in the Q1 (April-June) quarter, attributing it to the company’s unique service offerings and the unwavering commitment of its workforce.
The email emphasized how the dedication of the employees has strengthened the company’s diverse and dynamic portfolio, while the enhanced GenAI capabilities have deepened client relationships.
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The financial daily has learned that for the quarter, the variable pay ranged from 75% to 84.5% for employees in the E6 category, 77% to 86% for those at E5, and 80% to 88% for E4. These figures show an increase compared to the previous quarter (Q4 of FY24), where the variable pay was 54-60% for E6, 62-68% for E5, and 70-76% for E4.
At Infosys, employees in the E0\u2013E2 classification range from freshers to technical leaders, while those in the E3\u2013E6 band hold mid-level positions such as project managers and vice presidents. Senior-level employees are classified as E7 and above.<\/div>\n