The CEOs of India’s top IT companies have maintained their high salaries despite the challenging demand landscape in the sector, particularly in North America. Among the top six IT companies by revenue, Wipro’s CEO, Thierry Delaporte, had the highest pay at Rs 82.4 crore ($10 million) in FY22-23, though it was down 5% YoY in dollar terms. Meanwhile, HCLTech’s CEO, C Vijayakumar, experienced the steepest decline in compensation, with a 79% drop to Rs 28.4 crore.
Salil Parekh, CEO of Infosys, earned Rs 56.44 crore ($6.8 million), while former Tata Consultancy Services CEO Rajesh Gopinathan earned Rs 29.16 crore ($3.5 million), and LTIMindtree’s CEO Debashis Chatterjee earned Rs 17.5 crore ($2.1 million). Tech Mahindra’s CEO CP Gurnani saw his pay halved due to fewer stock options exercised, earning Rs 32 crore.
While CEO salaries have increased significantly over the years, there is a widening gap between CEO pay and median remuneration at these companies. Some new CEOs are joining with substantial compensation packages. For instance, Mohit Joshi, CEO designate of Tech Mahindra, is set to make over Rs 46 crore in his first year.
Globally, the highest-paid executive is Accenture’s Julie Sweet, earning $33 million in FY21-22, followed by IBM’s Arvind Krishna with $16.58 million in 2022 and DXC Technology’s Michael Salvino with $20.3 million in the 2023 fiscal year.
Despite the challenges in the industry, Indian IT CEOs’ compensation remains substantial, reflecting their significant roles in leading their companies and driving growth, both in India and on the global stage.
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