The Information Technology (IT) sector continues its reign in India’s corporate landscape, claiming seven out of the top 10 highest-paid CEO positions, according to data analyzed by The Economic Times. The annual salaries of these executives range from ₹29 crore to ₹82 crore, raising questions about the disparity in executive compensation.
Key Highlights:
– Thierry Delaporte of Wipro emerges as the highest-paid CEO in the IT sector, commanding a salary exceeding ₹80 crore.
– Other notable figures include Sandeep Kalra (Persistent Systems), Nitin Rakesh (Mphasis), Salil Parekh (Infosys), Sudhir Singh (Coforge), CP Gurnani (Tech Mahindra’s outgoing CEO), and Rajesh Gopinathan (former TCS CEO).
– Former TCS CEO Rajesh Gopinath reports a salary of ₹29 crore for the year.
– HCL Technologies CEO and MD C Vijayakumar secures the eleventh position with an annual salary of ₹28 crore in FY23.
One significant reason cited for the substantial compensation in the IT sector is its global market competitiveness. Unlike many other industries, IT companies operate on a global scale, justifying higher salaries for top executives and directors.
Insights into Start-up Compensation:
– Zerodha founders Nithin Kamath and Nikhil Kamath become the highest-paid CEOs in the startup sector, each with an annual salary of ₹72 crore.
– Oyo founder Ritesh Agarwal secures the second position in startup CEO compensation, with an annual salary of ₹12 crore.
Explaining High Salaries:
Nithin Kamath clarifies that the reported salaries are not entirely drawn by the individuals. Nearly half of these substantial figures are allocated to taxes, aiming to mitigate risks during firm liquidation.
