CEOs in the IT sector have once again dominated the pay scale compared to CEOs in other businesses; in fact, most of the nation’s top 10 highest-paid CEOs are from this area.
Seven of the top ten best-paid CEOs in the nation, whose salaries ranged from Rs.29 crore to Rs.82 crore, were employed in the IT industry, according to the Economic Times. The highest-paid CEOs in the nation, according to ET’s analysis of the top 500 companies listed on the Bombay Stock Exchange, are Thierry Delaporte of Wipro, Sandeep Kalra of Persistent Systems, Nitin Rakesh of Mphasis, Salil Parekh of Infosys, Sudhir Singh of Coforge, CP Gurnani, the departing CEO of Tech Mahindra, and Rajesh Gopinath, the former CEO of TCS.
CEO of Wipro Thierry Delaporte, who earns more than Rs.80 crores in salary, is the highest-paid IT CEO in the nation. Rajesh Gopinath, the previous CEO of TCS, and C Vijayakumar, the CEO and MD of HCL Technologies, received salaries of Rs.29 crore and Rs.28 crore, respectively.
According to the Hindustan Times, one of the primary causes of the high compensation of CEOs and directors in the IT industry is that these businesses face direct competition from other sectors in the worldwide market.
The remarkable pay of the Kamath brothers: In fiscal 2022–2023 (FY23), brothers Nithin and Nikhil Kamath, the founders of the stockbroking website Zerodha, took home a combined Rs.195.4 crore in compensation. As per a report published on Entracker.com, the yearly salary of the Zerodha co-founders and full-time directors was Rs.72 crore apiece in FY23.
The board of Zerodha approved a resolution in FY22 authorizing three of its directors to receive compensation of up to Rs.100 crore. The cost of employee perks for Zerodha increased by 35.7% to Rs. 623 crore in FY23 from Rs. 459 crore in FY22.
