IT sector giant HCL Technologies¡¯ CEO C Vijayakumar has become the highest-paid IT sector CEO in India. His compensation reached a massive $16.52 million, i.e. about Rs 131 crore after getting a two-year long-term incentive (LTI) worth $12.5 million, according to the company¡¯s annual report.?He received $4.13 million in salary.
Even though HCL CEO Vijayakumar did not get a hike in his salary for FY22, which concluded on March 31st, the $12.5 million LTI helped him jump ahead of Wipro¡¯s CEO Thierry Delaporte, whose annual package was Rs 79.8 crore ($10.51 million) in the last FY22,which was 20% more than what he got in the previous year, i.e. FY21.
Next on the list is Infosys¡¯ CEO Salil Parekh at third position amongst IT sector giants in India. His total compensation jumped 43% to Rs 71 crore, while TCS CEO Rajesh Gopinathan takes the fourth position with a comparatively modest pay package of Rs 25.77 crore in FY22, up 27% from the previous year, as per ET report.
For Vijayakumar, his compensation was hiked 74% in FY21, wherein his base salary was reportedly $2 million and performance incentive was another $2 million, taking the total pay to $4.13 million (about Rs 30 crore).
HCL CEO Vijayakumar was also reportedly granted 900,060 restricted stock units during FY22.?
As per NDTV, HCL mentioned in its annual report?"Mr Vijayakumar, Chief Executive Officer, did not receive any remuneration from the company. However, he received $4.13 million (equivalent to???30.60 crores) as remuneration from HCL America Inc., a wholly-owned step-down subsidiary of the company, during the financial year 2020-21."?
¡°At HCL Technologies, we have taken pioneering steps in our talent strategy. We are proud of our global team of diligent, diverse and passionate people, all 209,000 plus of them across 52 countries,¡± CEO Vijayakumar wrote in a note to shareholders. ¡°They are delivering an extraordinary experience to our clients under the leadership of a world-class management team rooted in our culture of ¡®Ideapreneurship¡¯.¡±
The report also mentioned that the median remuneration of employees in FY22 increased by 11.42%. The average percentile increase in the salaries of employees other than the managerial personnel in the last financial year was 6.85%.
Also Read:?Indian Tech Giant HCL Aims To Solve High Attrition Problem With 'Hire To Retire' Platform
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