IT sector CEOs have once again reigned supreme in terms of remuneration compared to their counterparts in other industries, with a majority of the top 10 highest paid CEOs in the country belonging to the sector.
According to the Economic Times, 7 of the top 10 highest paid CEOs in the country belonged to the IT sector with their remuneration ranging from ₹29 crore to ₹82 crore. ET's analysis of the top 500 companies on the Bombay Stock Exchange showed that the highest paid CEOs in the country included Wipro's Thierry Delaporte, Persistent Systems' Sandeep Kalra, Mphasis' Nitin Rakesh, Infosys' Salil Parekh, Coforge's Sudhir Singh, Tech Mahindra's outgoing CEO CP Gurnani and former TCS CEO Rajesh Gopinath.
Wipro CEO Thierry Delaporte was the highest paid IT CEO in the country with a salary of over ₹80 crore. Meanwhile, former TCS CEO Rajesh Gopinath and HCL Technologies CEO & MD C Vijayakumar earned ₹29 crore and ₹28 crore respectively.
One of the main reasons for the high remuneration of CEOs and directors in the IT sector is that these companies are in direct competition in the global market as compared to other industries, the Hindustan Times reported.
Kamath brothers' stunning salary:
Founders of stockbroking platform Zerodha - brothers Nithin and Nikhil Kamath collectively withdrew ₹195.4 crore as compensation in fiscal 2022-23 (FY23). According to a report by Entracker.com, the Zerodha co-founders and whole-time directors took home ₹72 crore each as their annual remuneration during FY23.
In FY22, Zerodha’s board passed a resolution approving a remuneration of up to ₹100 crore each to three of its directors. During FY23, the employee benefits cost for Zerodha spiked 35.7 per cent to ₹623 crore from ₹459 crore in FY22.
