TCS CEO Salary Is Rs 7 Lakh Per Day! Annual Package Increases By 26% To Reach Rs 25.7 Crore

Tata Consultancy Services’ chief executive Rajesh Gopinathan’s pay increased 26% to Rs 25.7 crore during the financial year 2021-22.

Compensation Breakdown 

His previous pay- Rs 20.36 crore in FY21.

Of the total compensation, the salary is of Rs 1.51 crore, benefits, perquisites and allowances of Rs 2.25 crore and commission of Rs 22 crore.

His compensation is 397 times the median remuneration of the staff, which is a 26.52% increase in the financial year. 

In the previous year, the ratio was 327:1.

For Regular Employees

Meanwhile, the percentage increase in the median remuneration of employees in the financial year is 4.24%.

The average annual increase was in the range of 5-8% in India with the total increase being approximately 10.5%, after accounting for promotions and other event based compensation revisions.

Employees outside India received a wage increase varying from 1.5 to 6%.

Gopinathan  was re-appointed as CEO last year for a further five years with effect from 21 February, 2022.

COO’s Compensation

COO N Ganapathy Subramaniam’s compensation surged over 28% in FY22.

He received a salary of Rs 1.44 crore, benefits, perquisites and allowances of Rs 2.24 crore and commission of Rs 17 crore.

His total compensation in the last fiscal stood at Rs 20.7 crore, which is a 29% jump from his previous compensation of Rs 16 crore.

Getting Close To $50 Bn Revenue

Gopinathan said in a letter to shareholders that at the company’s current pace of growth, it is “only a matter of time” before its revenue doubles and hits the $50 billion mark.

Tata Group chairman N Chandrasekaran said in the annual report that Artificial intelligence and data are the key differentiators for enterprises today.

TCS helps its customers stay ahead of the pack by “investing in research and innovation, tapping the intellectual capital within the organisation and also of our ecosystem through our Co-Innovation Network.”

Tech Spending

TCS is confident that technology spending will continue to grow.

Gopinathan said that they are in the middle of a “multi-year technology upgrade cycle” that provides “strong, structural growth drivers for the next few years.”

Cloud adoption grew further in FY22 with more clients taking on multi-horizon cloud transformation.

Cloud Adoption

However, TCS believes that the mindset has changed. 

Enterprises have shifted from thinking of technology-led innovation as a solution to pandemic challenges to seeing it as a means of powering their growth and transformation.

“This applies especially in the case of clients who had already moved their most critical workloads to the cloud,” Gopinathan said.