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Rajesh Gopinathan, chief financial officer, saw his compensation rise 39 per cent to Rs 2.98 crore (Rs 29.8 million).
India’s largest information technology services provider, Tata Consultancy Services, that crossed the trillion-rupee revenue milestone in FY16, rewarded its senior management with a 20-per cent salary hike.
Managing Director and Chief Executive Officer, N Chandrasekaran saw his annual compensation rise 20 per cent to Rs 25.6 crore (Rs 256 million).
According to the company’s annual report, the ratio of his remuneration to the median remuneration of the employees was 459.84 for FY16, compared with 416 last year.
The ratio remuneration of Executive Director Aarthi Subramanian, who gets a compensation of Rs 2.75 crore (Rs 27.5 million), to the median remuneration of employees was 49.31.
The percentage increase in the median remuneration of 353,843 employees for FY16 was 9.20 per cent. While, aggregate remuneration of key managerial personnel was Rs 33.02 crore (Rs 330.2 million) or 0.04 per cent of the revenue.
Rajesh Gopinathan, chief financial officer, saw his compensation rise 39 per cent to Rs 2.98 crore (Rs 29.8 million).
He is also among the few management officials to have a stock option. He holds 1,130 shares of TCS.
On an average, employees at TCS received an annual increase of eight per cent in India.
Employees outside India received an increase varying from two to four per cent.
The increase is in line with market trends in the respective countries, said the company.
To ensure that remuneration reflects company performance, the performance pay is also linked to organisation performance, apart from an individual's performance.
Vishal Sikka, CEO, Infosys earned a compensation of $7.45 million for FY16. His salary is expected to be rise to $11 million.
Image: N Chandrasekharan, CEO, Tata Consultancy Services. Photograph: Reuters
