Crorepati Employees In Infosys Increase By 100%; This Is What CEOs Of TCS, Infosys Are Earning
In the last few days, we have shared how Indian IT companies are on a roll, as they are smashing recruitment records everywhere.
Now, the way business models of IT Services companies are made, their earnings are directly proportional to the number of employees: Hence, more employees and less attrition mean more income and less loss.
Hence, as the big 4 IT firms in India are hiring like never before, this also means that their earnings are at an all-time high.
And this is the reason Infosys employees must be especially happy: Their crorepati colleagues are increasing!
Crorepati Employees In Infosys Increase By 100%
In the current fiscal year: 2019-20, the total number of crorepati employees, or the employees who are earning more than Rs 1 crore, has increased by 100%.
In the FY2018, there were only 30 crorepati employees in Infosys, which has now become 64, which is more than double or an increase of more than 100%.
As per numbers released by Infosys, several of these new crorepati employees are not even listed as key managerial personnel.
Prominent among these new crorepati employees are:
Deepak Padaki, Head Of Corporate Strategy & Risk: Current earning is Rs 3.16 crore, up from Rs 1.81 crore last year, which is a hike of 75%.
Koushik RN, EVP and Group Head of Global Immigration: Increase of 41% in gross earning
Binod Hampapur, Head of Global Talent and Technology: Current earning Rs 5.2 crore, increase of 30% compared to last year
Chief operating office UB Pravin Rao: Rs 9.1 crore
President Mohit Joshi: Rs 15 crore
Deputy chief operating officer Ravi Kumar S: Rs 13.2 crore
As a disclaimer, Infosys also added in their report that the reason for this massive hike in earnings of some employees is “increase in perquisite value of stock incentives previously granted and exercised during the year.”
However, at the same time, the median income of an Infosys employee increased by just 5% to reach Rs 6.2 lakh.
This Is What CEOs of TCS and Infosys Are Earning
We shared what crorepati employees are earning at Infosys, and how their overall earnings have increased compared to last year.
Now, let’s do a comparison of the CEOs, of Infosys and TCS, two of the biggest and most powerful IT Services companies in India.
Infosys CEO Salil Parekh received total of Rs 24.6 crore in compensation.
He joined the company in January, 2018, and his overall pay include: Rs 6.07 crore in fixed salary, Rs 10.96 crore in bonus, incentives and variable pay and Rs 7.6 crore in restricted stock options.
However, Rajesh Gopinathan, who is the CEO of TCS, which is India’s largest and world’s 3rd largest IT services company, received Rs 16 crore last year. This is an increase of 28% in salary, compared to last year. This salary package includes Rs 1.15 crore in salary, Rs 1.26 crore in perquisites, Rs 13 crore in commission and over Rs 60 lakh in other allowances.
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