Infosys CEO and MD Salil Parekh saw his annual compensation rise significantly to Rs 66 crore in the last fiscal.
This is a notable increase of more than a sixth compared to his previous year’s earnings of Rs 56.4 crore, as detailed in the FY24 annual report of the company. The previous fiscal had seen Parekh’s remuneration dip by 21 per cent from Rs 71.02 crore in FY22, but FY24 reversed this trend with a robust growth in his earnings.
Parekh’s compensation for FY24 included a fixed salary that grew to Rs 7.47 crore from Rs 7.12 crore in FY23, along with a bonus of Rs 19.75 crore, up from Rs 18.73 crore in the prior year.
A big portion of his package, Rs 39.03 crore, came from the exercise of 2,58,636 Restricted Stock Units (RSUs). His total remuneration was a mix of fixed pay, variable pay, retiral benefits, and the perquisite value of stock incentives exercised during the period.
This remuneration places Parekh as the second highest-paid IT CEO for FY24, trailing behind Wipro’s former chief Thierry Delaporte, who earned USD 20 million (approximately Rs 166 crore), including a severance-related package of Rs 92.1 crore.
In comparison, TCS reported that its CEO and MD, K Krithivasan, received an overall remuneration of Rs 25.2 crore in FY24, slightly less than his predecessor Rajesh Gopinathan, who had a salary of Rs 29.16 crore in FY23.
Further, the median remuneration of Infosys employees increased by 8.65 per cent to Rs 9,77,868 between April 2023 and March 2024, up from Rs 9,00,012 in the previous fiscal year.
