Tata Consultancy Services (TCS) CEO and MD K Krithivasan received ₹25.36 crore in annual compensation in FY24, the company revealed in its annual report. This implies that his salary is the lowest amongst the large IT firms in India. Even TCS outgoing chief operating officer NG Subramaniam earned more than K Krithivasan in FY24.
Although, it should be noted that K Krithivasan’s salary as CEO is for 10 months while NG Subramaniam’s was for the full year. K Krithivasan took over as the CEO from Rajesh Gopinathan on June 1, 2023 who received a total remuneration of ₹29.16 crore.
K Krithivasan’s pay check includes basic salary, benefits, perquisites and allowances as well as commission. As per TCS’ annual report, K Krithivasan received a commission of ₹21 crore in FY24. However, his compensation does not include employee stock purchase scheme (ESPS) and he holds around 11,232 stocks in the company.
Other major IT firms have not yet released their annual reports for FY24. Although in FY23, Infosys’ CEO Salil Parekh earned the most amongst IT company CEOs as he had a remuneration of ₹56 crore. This is followed by the newly appointed Wipro CEO Srinivas Pallia whose annual remuneration package is almost ₹50 crore. HCL CEO C Vijayakumar earned ₹28.4 crore in FY23 while Tech Mahindra’s Mohit Joshi’s got ₹6.5 crore and an equal amount in annual variable pay in FY22-23.