Warning: This might make you feel really bad about your job. Please read at your own risk.
Infosys' CEO Salil Parekh is having a very happy new year indeed. And why wouldn't he? His salary can't possibly fit in a single row of the calculator.??
According to Kiran Mazumdar Shaw, an independent board member at Infosys and a member of the Nomination and Remuneration Committee (NRC), Paresh will draw a fixed salary of Rs 6.5 crore and a variable pay of Rs 9.75 crore at the end of the next fiscal year 2018-19.?
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You must resist the urge to stab your screen, because there's more.
Shaw also added that Parekh, who has been appointed for a five-year term, will also receive Rs 3.25 crores in restricted stock units. "He will also get Rs 13 crore in annual performance equity grants," she said.
You thought it's over? Nope!
Add to this a one-time equity grant of Rs 9.75 crore as well. But if Paresh fails to deliver on his duties, Shaw said that he will be paid a specified amount for that (which remains undisclosed).
Infosys
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Infosys further elaborated that Paresh will not work with named competitors for six months from the day he leaves the organisation. He will also not work with or for a client he has known for the last 12 months.
As he assumes his new role, it seems that Parekh's every move will be closely monitored. Especially since Infosys and Nandan Nilekani parted ways on rough terms.?
Do you feel the pain yet? The pain of earning a measly salary that is not even a drop in the vast ocean of moolah Parekh will be swimming in? Yeah, we feel it too.??