The compensation of Chief Executive Officers (CEO) in India, especially in the private corporate sector, has always been impressive. Some of the top CEOs in the country draw salaries in several crores.
C Vijayakumar, who has been the CEO of HCL Tech for over six years, is among the highest-paid CEOs in the country with an annual package of Rs 130 crore including long-term incentive. According to HCL Tech’s annual report, he was paid Rs 123 crore last year.
Salil Parekh has been at the helm of Infosys since January 2018. His annual remuneration in 2022 got a whopping 88% hike to Rs 79.75 crore. Of this, his fixed salary is Rs 11 crore and Rs 68 crore comprise performance-linked incentives.
HUL CEO Sanjiv Mehta got a 47% hike in his annual pay in FY22. His remuneration was Rs 22 crore in FY22, which included a base salary of Rs 3.7 crore along with allowances, a bonus, perquisites and long-term incentives.
Rajesh Gopinathan, who stepped down as Tata Consultancy Services CEO recently, earned Rs 25.75 crore as remuneration, according to the company's FY22 financial report. This included a base salary of Rs 1.51 crore plus other benefits, perquisites and allowance along with the commission.
CP Gurnani, who is set to retire in December 2023, drew a handsome remuneration of Rs 63.4 crore in FY22, after receiving a 189% hike. The amount includes his basic salary, stock compensation benefits and post-employment benefits for one year.
SN Subrahmanyan, the CEO and Managing Director of Larsen & Toubro, earned a salary package of Rs 61.27 crore in FY22. This was a 115% hike in his previous year's salary as he had taken a massive salary cut in FY21 amid Covid.
In recent times, CEOs who choose to draw a minimum salary are becoming more common. One example is Cred CEO Kunal Shah who disclosed that he earns a monthly salary of Rs 15,000.
Reliance Industries Chairman Mukesh Ambani drew no salary in the last two years as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its annual report, Reliance said Ambani's remuneration for the financial year FY21 and FY22 was nil.