Infosys has less crorepatis now as before, thanks to change in bonus policy
AdvertisementA change in the long-term bonus policy at Infosys, which was implemented last year, has resulted in the number of
The policy entitled Infosys executives above associate VP level for long-term bonuses that had accumulated over a period of three years, applicable after these executives completed at least one year in the company. This had led to the number of its employees drawing annual salary of more than Rs 1 crore rising nearly 10 times and reaching to 113 in 2015-16.
Also read: Infosys CEO Vishal Sikka rakes in $7.45 million in salary this year
However, the concept of "long-term" payouts has now been done away with, with Infosys focusing on handing out annual bonuses to title-holding executives during the same financial year. This has led to this significant change in the number of executives falling in the Rs 1-crore pay bracket.
Also read: Infosys’ top executives rake in multi-million dollar pay packages. Check out how much Vishal Sikka and others earn
This was done to control the wear and tear at the top level of the company, and also to retain key executives so that Infosys has enough weapons in its battle against arch rivals TCS and Cognizant.
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