TCS CEO K Krithivasan's Salary Revealed; How Much Salary Hike Did TCS Employees Get This Year?

The ongoing debate surrounding the substantial salaries of CEOs remains a prominent global conversation. Given their pivotal role in overseeing a company's daily functions and financial stability, these executives are subject to significant scrutiny and analysis.

While Indian-origin CEOs like Satya Nadella and Sundar Pichai rake in hundreds of crores every year, CEOs of big Indian companies also make significant amounts of money.

How Much Did The TCS CEO K Krithivasan Make In FY 2023-24?

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In the financial year 2023-24, TCS CEO and managing director K Krithivasan earned a salary of Rs 25.35 crore. He assumed leadership of India's largest IT services firm on June 1, 2023. According to TCS's annual report for FY24, his remuneration covers his tenure as the company's global head for banking, financial services, and insurance (BFSI) from April 1, 2023, to May 31, 2023, and as CEO and managing director from June 1, 2023, to March 31, 2024.

This breakdown consists of a base salary of Rs 1.27 crore (equivalent to Rs 10.6 lakh per month), benefits and allowances totaling Rs 3.08 crore, and a substantial performance-based commission of Rs 21 crore.

Krithivasan assumed the role of TCS's chief executive on June 1, 2023, following the resignation of Rajesh Gopinathan as the company¡¯s MD and CEO.

Previously, Krithivasan had a basic salary of Rs 10 lakh per month or Rs 1.2 crore annually. Reports indicate that his monthly salary package in 2018-19 was Rs 4.3 crore.

His predecessor, Rajesh Gopinathan stepped down as the MD and CEO of TCS in June 2023. He received a total compensation of Rs 25.75 crore in a year.

TCS Salary Structure

TCS

TCS implements a compensation structure for its managing director and executive directors, consisting of two parts. The first part includes a fixed component, comprising salary, benefits, perquisites, and allowances. The second part is a variable component based on performance, referred to as commission, which directly reflects the company¡¯s financial success.

In the most recent financial year 2023-24, the country¡¯s largest IT services company's COO N G Subramaniam earned a total compensation of Rs 26.18 crore, marking a 10.98 per cent increase compared to the previous year. This figure had grown by 14 per cent in FY23, according to the latest annual report.

Appraisals In TCS

Recently, TCS unveiled its annual salary hikes for its employees, with top performers set to receive double-digit increments. Milind Lakkad, the Chief HR Officer, stated that salary increases would range from 4.5-7 per cent based on performance, with high-performers eligible for double-digit raises.

In the latest quarter ending March 2024, Tata Consultancy Services reported a 9.1 per cent growth in net profit, reaching Rs 12,434 crore. Throughout the fiscal year 2023-24, the company's net profit saw a 9 per cent increase to Rs 45,908 crore.