We always wonder about how much the CEO’s of the big shot IT companies must be making yearly?
In one such development, a latest media report highlighted that the Cognizant CEO Ravi Kumar Singisetti received a total compensation of $22.56 million (approximately Rs 186 crore) last year.
Highest-Paid Executive
So far, he is the highest-paid executive in the Indian IT sector with compensation including shares valued at $20.25 million (nearly Rs 169.1 crore) as per the information revealed in a company filings.
Bsides this, the IT service provider has explained that the compensation package included performance share units (PSUs) valued at $3 million, having a potential payouts ranging from 0% to 250% over a four years based period as per the company’s total shareholder return.
In addition to this, he also received equity awards in the form of restricted stock units (RSUs) with a grant value of $5 million, provided as a buyout to replace forfeited equity awards from his previous employer.
Please note here that the actual payout of the PSUs is subject to performance conditions.
This means that it may also lead to variable outcomes, including no payout at all.
In a closure look, Ravi Kumar Singisetti’s remuneration represents 0.11% of Cognizant’s total revenue of $19.35 billion for the last fiscal year.
Trending Remunerations Across IT Industry In India
Let’s go through the remuneration of the CEO’s from other IT majors.
Consider the case of former CEO of Wipro Ltd, Thierry Delaporte. He received $10.1 million (Rs 83 crore) representing 0.089% of the company’s $11.16 billion revenue.
HCL Technologies Ltd CEO, C Vijayakumar, has a remuneration of $10.65 million (Rs 88 crore).
Again, this is amounting to 0.085% of the company’s $12.58 billion revenue, as per the media report.
The CEO of Accenture Plc, Julie Sweet earned a total remuneration of $31.55 million.
It represents 0.049% of the company’s $64.1 billion revenue.
In the case of Infosys CEO and managing director, Salil Parekh, he earned $6.8 million (Rs 56.4 crore), representing 0.037% of the company’s $18.1 billion revenue.
When it comes to the former CEO of Tata Consultancy Services, Rajesh Gopinathan, he had a salary of $3.5 million (Rs 29.16 crore).
This is equivalent to 0.012% of the company’s $27.9 billion revenue.
