Infosys Ltd is likely to begin rolling out annual pay hikes in February 2025, according to a report, which said that employees at job level 5 (JL5) are likely to the letters first.

Employees at job level five (JL5) will receive their letters in February with the raise becoming effective retrospectively from January 1, while those at JL6 and above will receive their letter in March with the hike becoming effective from April, according to an Economic Times report.

Also Read: TCS to hire 40,000 freshers from campuses this year with AI skills expected at all levels, CHRO says: Report

This hike comes for the appraisal period from September 2022 to October 2023. Employees had received their rating letters in December 2023, despite the letters usually coming in June for hikes effective in July.

This was because Infosys froze salary hikes in the financial year 2021-22 to conserve cash and started its annual appraisal cycle starting in October 2023.

The last hike was effective on November 1, 2023.

Also Read: Minimum EPS pension hike to ₹7,500 may be considered in Union budget 2025: Report

JL5 include track leads with those below being software engineers, senior engineers, system engineers and consultants.

Meanwhile, JL6 and above includes managers, senior managers, delivery managers and senior delivery managers, but excludes vice presidents.

The fall in the rupee is also going to aid in the company’s margins at a time when revenues are soft due to seasonality factors.

The rupee is currently at an all-time low of about 86.39 to the dollar, according to Bloomberg data.

Also Read: Big Four firms urge employees to limit work travel, use public transport: Report

The IT giant also gave an 85% average performance bonus payout to eligible employees for the second quarter of 2024-25 which was a little higher than the first quarter’s 80% average payout.