From Wipro To Infosys-List Of India's Highest-paid CEOs Of 2023 Revealed

Once again, the IT services industry has dominated and topped the list of highest-paid CEOs in India for 2023. In a recently revealed list by ET, seven out of the top 10 highest-earning CEOs in India for this year were from the IT sector, despite the business headwinds in the past two years that the sector has been seeing.

Who Was The Highest-paid CEO Of 2023 In India?

wipro

The highest-paid CEO in India for 2023 has turned out to be Thierry Delaporte of Wipro. He earned a mammoth compensation of Rs 82 crore in FY23. The data include salary, bonus, allowances, commission, and other benefits.

Also Read: All You Need To Know About Wipro's New CFO Aparna Iyer

Who All Made It To The Top 10 List?

indiatimes

1. Wipro-Thierry Delaporte

Rs 82 crore

2. Poonawalla Fincorp-Abhay Bhutada

poonawalla

Rs 78 crore

3. Persistent Systems-Sandeep Kalra

persistent

Rs 62 crore

4. Mphasis-Nitin Rakesh

forbes

Rs 60 crore

5. Infosys- Salil Parekh

infosys

Rs 56 crore

6. Hindalco-Satish Pai

internationalaluminium.org

Rs 37 crore

7. L&T-SN Subrahmanyan

ET

Rs 36 crore

8. Coforge-Sudhir Singh

coforge

Rs 34 crore

9. Tech Mahindra-CP Gurnani

reuters

Rs 30 crore

10. TCS-Rajesh Gopinathan

forbes

Rs 29 crore

10. HCL Tech-C Vijayakumar

bqprime

Rs 29 crore

Why Do IT Sector CEOs In India Get Paid So Highly?

With their salaries ranging from Rs 29 crore -Rs 82 crore, IT sector CEOs dominated this year's highest-paid CEOs list. With that arises the question: why do Indian IT companies in general pay more to their top executives than even bigger companies in other sectors? As per experts, it is because they compete in the global market.

Anandorup Ghose, partner at Deloitte India, pointed out that CEOs of Indian IT services companies are often based abroad or operate out of multiple locations globally even if they are based in India as they primarily serve customers outside of the country, as per the ET report.

¡°We have to also account for the fact that many Indian IT services firms are global industry leaders. Hence, given the size, geographical reach, and complexity of businesses, it is natural to have a lot of these CEOs be at the higher end of the pay ranges,¡± Ghose said. ¡°A lot of these companies are also listed on global exchanges leading to shareholders/boards evaluating CEO compensation in line with other peers listed on those exchanges,¡± he added.

¡°Most Indian IT services companies are global in nature and compete with other global companies headquartered in the West. The challenges for the CEO are alike and hence the pay needs to be globally competitive,¡± said Anubhav Gupta, managing director of Exec-Rem Advisors, a specialised executive compensation advisory firm.

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