The average remuneration of top-50 companies on the Nifty jumped 22 per cent year-on-year to a record Rs 28.4 crore in the financial year 2021-22. It had averaged about Rs 17-18 crore between 2017-18 and 2019-20, according to a CNBC-TV18 report.
Not only professional-run companies but even promoter-led firms, including JSW Steel and Divi’s Laboratories, witnessed an aggregate compensation of Rs 140 crore, the report said.
The Highest-Paid Indian CEOs
HCL Tech CEO C Vijayakumar is the highest-paid CEOs in India. The company in its annual report recently said Vijayakumar got $16.52 million or about Rs 130 crore in compensation.
Vijayakumar got Rs 123.13 crore ($16.52 million) in 2021. He got $2 million as base salary and another $2 million in variable pay. The CEO further got $0.02 million as perquisites and other benefits for the year ended March 31. The LTI (long-term incentive) of $12.50 million took his total salary to $16.52 million.
He has said, “At HCL Technologies, we have taken pioneering steps in our talent strategy. We are proud of our global team of diligent, diverse and passionate people, all 2,09,000 plus of them across 52 countries. They are delivering an extraordinary experience to our clients under the leadership of a world-class management team rooted in our culture of ‘Ideapreneurship’.”
Thierry Delaporte, chief executive officer of Wipro, received an annual remuneration of $10.5 million (about Rs 80 crore) in 2021-22. He was appointed as the company’s CEO in July 2020 and during the first nine months of tenure, his remuneration was Rs 64 crore for FY21.
Infosys CEO Salil Parekh received a total remuneration of Rs 71.02 crore during the financial year 2021-22. The company’s shareholders have approved a proposal to extend Parekh’s term for five years till 2027, with an increase in his compensation package to Rs 79.75 crore.
Parekh’s compensation during 2021-22 included Rs 5.69 crore base salary, Rs 0.38 crore retiral benefits, Rs 12.62 crore bonus and incentives and Rs 52.33 crore in perquisites on account of stock options exercised, according to the annual report.
C P Gurnani, CEO and managing director of Tech Mahindra, got Rs 63.4 crore in remuneration during 2021-22, a 189 per cent year-on-year jump. The salary included salary, stock compensation benefits and post-employment benefits for the one-year period, according to Tech Mahindra’s annual report.
Tata Consultancy Services CEO and MD Rajesh Gopinathan saw an increase of 26.6 per cent in salary, according to the company’s annual report for 2021-22. He took home the total compensation of Rs 25.75 crore during the previous financial year.
According to a Deloitte India survey published in June, the CEO compensation has exceeded the pre-pandemic levels and that was the first survey where the average CEO total compensation has crossed the Rs 10-crore mark. The increase in pay levels is accompanied by a strong performance linkage 51 per cent of pay for CEO is “at risk” or variable, according to the 2022 Deloitte India Executive Remuneration Survey.