Wipro CEO Thierry Delaporte is now India’s highest paid IT industry chief, having received total compensation of $10.5 million (Rs 79.8 crore) for FY22.
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Lucrative Tenure
He was paid $1.7 million in salary and allowances, $2.5 million in commission, $2 million in benefits and the rest of the amount of over $4 million fell into the ‘others’ bucket.
He currently owns 118,000 equity shares.
His meteoric rise to the top ahead of his peers came in FY21 after he took the reins of the Indian IT major in July 2020.
His tenure as the CEO and Managing Director of Wipro will last for a duration of five years from July 6, 2020 to July 30, 2025.
Nearly $10 Mil In Just 9 Months
Prior to joining Wipro, Delaporte held various leadership positions in Capgemini since 1995, including that of Chief Operating Officer (COO) from September 2017 to May 2020.
For the first nine months of his tenure, his remuneration was Rs 64 crore ($8.8 million).
This included a salary component of Rs 9.6 crore, commission of Rs 11.2 crore, Rs 5.5 crore as long-term compensation and Rs 37.81 crore as other income.
Rishad Premji
Meanwhile, Wipro Chairman Rishad Premji received a total compensation of $1.82 million, up from $1.62 million last year.
In rupee terms, Premji’s salary increased from Rs 13.8 crore in FY22 to Rs 11.8 crore in the previous year.
This includes salary and allowances worth $1.1 million; commissions/variable pay worth $634,487, deferred benefits worth $63,918 and other benefits worth $1,255.
He did not receive any stock options in FY22.
On the other hand, Premji has 1.7 million equity shares.
Wipro CFO Jatin Pravinchandra Dalal received a $1.59 million package in fiscal year 2022.
Industry Peers In Comparison
In comparison, Infosys CEO Salil Parekh’s pay was $9.36 million (Rs 71.02 crore) in the period of 2021-22.
This is a growth of 43% from the previous year.
TCS CEO Rajesh Gopinathan was paid Rs 25.77 crore in FY22- a hike of 27%.
In FY21, HCL CEO C Vijayakumar made $4.15 million.
Tech Mahindra’s CP Mahindra got a remuneration of $2.83 million.
Global CEOs
The highest-paid IT CEO globally is Julie Sweet, CEO of Accenture with a salary of $23 million including payments received on stock plans as of FY22.
She is followed by Brian Humphries, CEO of Cognizant, who earned $19.6 million including stock plan payments in FY22.
IBM CEO and chairperson Arvind Krishna, with a salary of $17.56 million, stands third.
Languishing Fresher Income
While IT CEO pay has reached astronomical levels in the past 10 years, fresher salaries have stagnated.
The median annual pay of CEOs zoomed 835 percent from Rs 3.37 crore in FY12 to Rs 31.5 crore in FY22.
In sharp contrast, the median salary package of freshers grew just 45 percent — from Rs 2.45 lakh to Rs 3.55 lakh — over the course of a decade.
The specific ratio of pay between the CEO and the fresher paints a bleaker picture- it is 1,973 for Infosys, 2,111 for Wipro, 1,020 for HCL Technologies, 676 for L&T Infotech, 644 for Tech Mahindra, and 619 for TCS, according to data from TeamLease Digital.
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