Cognizant has started distributing bonus letters to eligible employees, with payouts ranging from 85% to 115%. This marks the largest bonus distribution in three years, with the majority of employees expected to receive their rewards. The company is issuing e-letters for the 2024 bonus payouts, and disbursements will be made in March and April based on payroll schedules in different countries.
Salary Hikes to Take Effect in August 2025
In addition to the bonuses, Cognizant has informed employees that merit-based salary hikes will take effect from August 1, 2025. The hike is scheduled a year after the last salary revision, ensuring employees receive performance-based increments.
Infosys Salary Hike Structure
Infosys, another IT giant, recently implemented performance-based salary hikes. Employees were categorized into three levels:
- Met expectations: 5-7% salary increase
- Commendable performance: 7-10% raise
- Outstanding performers: 10-20% raise
Employees marked as needs improvement did not receive any salary revision.
Most Infosys employees received a 5-8% increase, while top performers enjoyed higher increments. The salary revision applies to two job levels:
- Job Level 5 (team leaders and below): Wage increase retroactively applied from January 1, 2024
- Job Level 6 (managers below VP level): Revised wages effective April 1, 2024
