TCS CEO salary: 100% pay hike for Rajesh Gopinathan; honcho took home Rs 12 cr
TCS CEO salary: Gopinathan’s compensation included Rs 1.02 crore in salary, Rs 60 lakh in perquisites, Rs 10 crore in commission and Rs 86.8 lakhs in other allowances, said an Economic Times report. In FY17, he earned Rs 6.2 crore.
TCS CEO salary: The pay package of Chief Executive Officer (CEO) of country's largest software services firm has just doubled. Yes, you heard it right! Rajesh Gopinathan, CEO of IT major Tata Consultancy Services earned over Rs 12 crore in FY18, nearly double of what he earned in FY17.
The stupendous salary hike came after Gopinathan was elevated to the top job at TCS. He previously served as the Chief Financial Officer at TCS.
Gopinathan’s compensation included Rs 1.02 crore in salary, Rs 60 lakh in perquisites, Rs 10 crore in commission and Rs 86.8 lakhs in other allowances, said an Economic Times report. In FY17, he earned Rs 6.2 crore.
Gopinathan has been with TCS since 2001. He was appointed as CFO in February 2013. He has also worked with Tata Industries.
TCS’ chief operating officer N Ganapathy Subramaniam earned over Rs 9 crore in FY18 against 6.15 crore compensation in FY17.
TCS offered 120 per cent quarterly variable pay in the March quarter as it passed on benefits of strong quarter results. The company also announced salary hikes for FY19 in the range of 2-6 per cent depending on geography, reported Business Standard.
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TCS also reduced attrition rate by 10 basis points to 11 per cent in the Q4 with the total headcount reaching 394,998 with net addition of 4,118 employees over the quarter.
Meanwhile, top Infosys executives had also seen a massive pay rise in the last financial year, which included former Infosys CEO Vishal Sikka. Sikka had earned around Rs 13 crore in FY18. Sikka’s compensation included about Rs 3 crore in lieu of notice and variable pay, according to company’s annual report. In FY17, Sikka's compensation was Rs 16.01 crore.