In the year of covid, the corner suite got the biggest pay hikes
- Not all top bosses could justify their FY21 hikes by a growth in company profits. While analysts attribute the pay raises to the extra responsibility CEOs had at a time of crisis, the same in a year of widespread layoffs also brings to the fore rising income inequalities
The pandemic turned 2020 into a year of economic turmoil, but even amidst widespread job losses, members of the C-suite were able to corner handsome pay hikes, data suggests. Nifty 100 companies paid chief executives and managing directors an 11% raise in their median remuneration in 2020-21, even while other employees got almost flat pay raises, shows data from primeinfobase.com.