IT companies take pole position on CEO pay front in India
Their salaries ranged from Rs 29 crore to Rs 82 crore, an ET analysis of data from BSE 500 companies showed.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThierry Delaporte of Wipro, Sandeep Kalra of Persistent Systems, Nitin Rakesh of Mphasis, Salil Parekh of Infosys, Sudhir Singh of Coforge, CP Gurnani, outgoing CEO of Tech Mahindra, and Rajesh Gopinathan, former CEO of TCS, were among the 10 highest-paid MDs and CEOs last financial year, along with Abhay Bhutada of Poonawalla Fincorp, Satish Pai of Hindalco, and SN Subrahmanyan of L&T.
The data include salary, bonus, allowances, commission, and other benefits.
C Vijayakumar, managing director and CEO of HCL Technologies, India’s third-largest IT services company by market cap, was the eleventh-highest paid, taking home $3.46 million, or about Rs 28 crore, (he is based out of the US) in FY23.
So, why do Indian IT companies in general pay more to their top executives than even bigger companies in other sectors? Because they compete in the global market, experts said.
“Most Indian IT services companies are global in nature and compete with other global companies headquartered in the West. The challenges for the CEO are alike and hence the pay needs to be globally competitive,” said Anubhav Gupta, managing director of Exec-Rem Advisors, a specialised executive compensation advisory firm.
Anandorup Ghose, partner at Deloitte India, pointed out that CEOs of Indian IT services companies are often based abroad or
