Bengaluru : Infosys Ltd chief executive Salil Parekh’s salary rose 21.7% last year to touch ₹80.62 crore, the company’s latest annual report released on Monday showed, as he retained his position as the second-highest paid CEO among India’s top information technology (IT) services companies.
A little more than three-fifths, or ₹49.5 crore, of his compensation came from shares exercised by him in FY25, while ₹23.18 crore came from bonuses, variable pay, and incentives. The remaining ₹7.94 crore was part of his fixed salary.
To be sure, the highest paid IT executive remains HCL Technologies Ltd’s C. Vijayakumar, according to the company’s FY24 annual report.
Parekh’s 22% pay hike comes as Infosys remained the second-best performing company among the Big Five in FY25. The Bengaluru-headquartered company ended FY25 with $19.28 billion in revenue, up 3.85% from a year earlier.
Parekh’s salary is three times more than Tata Consultancy Services Ltd CEO, K. Krithivasan, whose salary increased 4.6% to ₹26.5 crore. Fourth-largest Wipro Ltd paid ₹53.6 crore to CEO Srinivas Pallia, marking a 10% increase.
Tech Mahindra Ltd’s Mohit Joshi is the lowest paid among the five, with a salary of 1.34 million pounds, or around ₹15 crore as of March 2024. The Pune-based tech services company is yet to disclose its annual report for the year.
Indian IT’s top-earning CEO is third-largest firm HCLTech’s CEO C. Vijayakumar. who earned ₹84.16 crore in FY24. The Noida-based company, which grew the fastest among top five, is yet to release its annual report for FY25.
A spike in bosses’ salaries at IT services companies underscores their performance, at least for Infosys and HCLTech.
Parekh and Vijayakumar have been CEOs of their companies for at least seven years, making them Indian IT’s longest serving bosses. Both companies have also grown fast in the last couple of years. While HCL grew the fastest among peers for the last two years, Infosys was the second-fastest last fiscal.
The pay jump for India’s IT bosses also reflects the companies’ attempts at shedding their decades-old approach of being a conservative paymasters.
However, it is not just Parekh at Infosys – the company added nine more crorepatis last fiscal year. Infosys now has 112 employees earning more than a crore rupees.
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