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The collective compensation of these CXOs earning a million dollars (over ₹8.2 crore, with the rupee pegged at 82/dollar) or more was ₹5,144 crore in the year ended March 31, a 20.86% increase from the prior year, according to a study of the BSE 200 companies conducted for ET by executive search firm EMA Partners India.
Professional CXOs dominated the million-dollar compensation club, accounting for nearly two-thirds of the list. While the number of professional CXOs rose 18.5% to 141, that of promoter CXOs increased 20% to 72.
The compensation considered for the study includes exercised stock options. The data has been sourced from the annual reports of the companies for FY24.
Abhay Bhutada, former managing director at Poonawalla Fincorp, was the highest earning CXO in the country in FY24, taking home ₹241.21 crore including share-based payments of ₹236.21 crore.
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