'Paying same amount as 20 years ago is cruel': People question why Cognizant's CEO earns Rs 186 crore while graduates get Rs 2.52 LPA

A Deloitte 2024 survey reveals that the average CEO salary in India is Rs 13.8 crore, but the pay disparity becomes stark when compared to entry-level positions. Cognizant's Ravi Kumar Singisetti, one of the highest-paid CEOs in the country, took home $22.56 million (about Rs 186 crore) last year, while recent graduates at the company earn just Rs 2.52 lakh per annum. This striking disparity, recently highlighted by a social media user, has ignited fierce discussions online, with critics questioning the absence of a fair minimum wage standard in India.

A popular tech-focused X account recently shared Cognizant's new off-campus hiring drive, announcing, "Cognizant has announced an exciting off-campus mass hiring drive, welcoming applications from candidates belonging to the 2024 batch. Application deadline - August 14; Package - INR 2.52 LPA."

Here is how people responded to it:

Credit: X

X user Swastika Yadav highlighted the pay disparity, noting, "Cognizant offering 2.25 LPA to recent graduates while the CEO's salary is 186 crores, making him the highest salaried CEO in India. And they were offering the same 'exciting' 2.25 lakhs two decades back as well. Why can't we have minimum wage criteria in all the sectors?"

She added that the issue is not just about individual choice but corporate responsibility: "My concern was pay disparity and stagnated wages. if a ceo's salary can increase from x to 186cr in 20 years, the least they could do is match inflation for entry-level jobs. Paying the same amount they used to pay 20 YEARS back is cruel and saying 'if you think it's too low, find another job' is ignorant and oversimplifies the issue."

Another user pointed out that while minimum wages do exist in India, they vary by sector and location. For ITES workers in Pune and Bangalore, the minimum wage is around 15,000 INR per month, which totals about 1.8 lakhs annually. They suggested that while 2.25 lakhs is higher than the minimum wage, it may still be inadequate given local living costs and economic conditions. "I think the government should ensure that minimum wages are fair, adequate, and responsive to changes in the economic environment by taking certain measures," they posted.

What are your thoughts on this issue? Why do first-time job seekers often earn so little compared to executives?

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