TCS Krithivasan earns the lowest among top Indian IT CEOs

For the fiscal twelvemonth ended March, Krithivasan received a compensation bundle of $3.1 cardinal oregon ₹25.4 crore.

Unlike different IT services companies, TCS does not connection worker banal ownership plans (ESOPs). Salaries of peers’ CEO are precocious connected relationship of the ESOPs paid to them. 

Krithivasan’s first-year remuneration is $0.4 cardinal little than his predecessor Rajesh Gopinathan, who stepped down arsenic CEO of the IT services steadfast successful March 2023. 

Much of the remuneration–$2.5 million–came from commissions, according to the IT bluechip’s yearly study for the fiscal twelvemonth ended March 2023, released connected 9 May 2024. 

As overmuch of the CEO compensation comes from commissions owed to the shares they are awarded, their remuneration increases compared to their employees’ median salary. 

In TCS’ case, Krithivasan’s wage is 314.5 times that of the median wage of TCS employees. 

TCS did not respond to Mint’s queries confirming the fig till property time.

As portion of revenue, Krithivasan's wage is 0.01% of the company's $29.1 cardinal gross for the fiscal twelvemonth ended March. In comparison, S Ravi Kumar of Cognizant Technology Solutions Corp receives 0.11% of his company's revenue. 

The Mumbai-based IT company, overmuch similar its Indian IT peers, pays remuneration to its managing manager and enforcement directors by mode of salary, benefits, allowances, and commissions. While allowances are the fixed component, commissions signifier the adaptable constituent of the remuneration.

The TCS main executive, who took bureau connected 1 June 2023, earned $0.15 cardinal arsenic his existent wage and $0.37 cardinal arsenic portion of allowances, benefits, and perks, arsenic per the FY24 yearly report. 

TCS has ne'er appointed an outer idiosyncratic for the apical job. This makes galore judge that radical appointed internally spell connected to gain little than outer candidates. 

For instance, erstwhile Wipro CEO Thierry Delaporte who was an outer hire, got $10.1 cardinal successful remuneration successful his past twelvemonth successful office, portion his successor Srinivas Pallia, a Wipro seasoned for 3 decades, is expected to person astir $7 cardinal successful his archetypal twelvemonth arsenic CEO, arsenic per a institution filing.

Cognizant’s CEO Ravi Kumar earned $22.6 cardinal oregon ₹186.2 crore successful FY23 owed to a one-time banal reward, making him the richest main enforcement of each Indian IT companies.

To beryllium sure, Cognizant, an Indian practice IT institution listed connected Nasdaq, follows a January-December fiscal calendar, portion Indian IT companies travel an April-March fiscal year. 

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Published: 10 May 2024, 10:25 AM IST