Former Wipro CEO Thierry Delaporte, who left in April, received a stunning $20 million (Rs 166 crore) in remuneration for fiscal year 2023-24 (FY24), making him the highest-paid CEO in India’s IT services sector.
Next to him are the CEOs of mid-cap businesses Coforge and Persistent Systems, who earned more than their colleagues at TCS and Infosys last year, according to The Economic Times.
According to the press source, Coforge CEO Sudhir Singh’s annual salary in FY24 was $12.5 million (Rs 105.12 crore), placing him second after Delaporte.
Singh was followed by HCLTech CEO C Vijayakumar, whose FY24 salary was $10.06 million (Rs 84.17 crore).
Sandeep Kalra of Persistent Systems earned Rs 77.1 crore ($9.1 million). Meanwhile, Infosys CEO Salil Parekh earned $7.8 million (Rs 66 crore) and secured fifth spot on the list.
Next in the list is Nitin Rakesh of Mphasis at $5.2 million (Rs 44.13 crore), followed by K Krithivasan, CEO of the country’s largest IT firm TCS, who earned $3 million (Rs 25.2 crore) in FY24. To be clear, Krithivasan took charge of the company in June 2023.
Meanwhile, IT firm LTI Mindtree CEO Debashis Chatterjee was paid $2.3 million (Rs 19.34 crore) in total compensation in FY24.
Top 5 CEOs ranked according to their earnings in FY24:
1) Thierry Delaporte – Wipro
2) Sudhir Singh – Coforge
3) C Vijayakumar – HCL Tech
4) Sandeep Kalra – Persistent Systems
5) Salil Parek – Infosys
In April, Business Standard had cited Randstad India to report the average corporate salary increment for FY24 performance was expected to hover around 8-11 per cent. However, IT companies, reeling under the impact of global headwinds, were expected to see one of the lowest salary hikes at 7 to 9 per cent, the company said.
On July 18, The Times of India reported that Infosys awarded its employees an average salary increase of 9 per cent, while Wipro offered a 9.2 per cent hike. TCS granted salary raises ranging from 7 to 9 per cent for the fiscal year 2024.
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