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India’s second-largest IT services player, Infosys, will be giving out 90 per cent of performance bonuses to eligible employees for the second quarter (Q2) of FY25.
These bonuses are applicable to employees at the mid to junior levels, which comprise the bulk of the firm’s workforce. While the average performance bonus payout is 90 per cent, the percentage will differ based on individual performance.
A source in the know said that the payouts will be part of November’s salary.
An email sent to the company remained unanswered at the time of going to press.
A 90 per cent bonus is good news for employees and the street, as it signals that the company’s performance has matched its internal parameters. Infosys has also revised its full-year guidance post-Q2 results to a range of 3.75 per cent to 4.5 per cent, up from the previous 3 per cent to 4 per cent, as it saw an improvement in discretionary spending.
The Q2 bonus is also higher than the firm’s Q1 FY25 bonus, which was around 80 per cent, and significantly higher than the 60 per cent bonus in Q4 FY24.
In the case of TCS, Milind Lakkad, chief human resources officer (CHRO), said post-Q2 FY25 results that the company has paid 100 per cent of the quarterly variable allowance (QVA) to junior grades across the company. For all other grades, the QVA would depend on individual performance.
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