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    Average remuneration for heads of Nifty50 companies surged to a record Rs 28.4 crore last fiscal

    business | IST

    Average remuneration for heads of Nifty50 companies surged to a record Rs 28.4 crore last fiscal


    The average compensation in FY22 was up 22 percent, year-on-year. Also, between FY18 and FY20, the average compensation averaged around Rs 17-18 crore. 

    The average remuneration for the heads of the Nifty50 companies surged to a record level of Rs 28.4 crore in the 2021-22 fiscal. Among these, it wasn't just the professional-run companies that topped the list, but even promoter-led companies such as Divi's Laboratories and JSW Steel saw aggregate compensation of Rs 140 crore.
    The average compensation in 2021-22 was up 22 percent year-on-year. Also, between 2017-18 and 2019-20, the average compensation averaged around Rs 17-18 crore.
    Who got paid what?
    Highest paid MD&CEO (Source: Bloomberg, Company)
    NameCompanyTotal compensation paid to the CEO/the equivalent for FY22
    Murali K Divi, Kiran S DiviDivi's LaboratoriesRs 148.1 crore
    Sajjan Jindal, Seshagiri Rao M V SJSW SteelRs 141.1 crore
    C. VijayakumarHCL Technologies LtdRs 124.9 crore
    Pawan MunjalHero MotoCorpRs 84.4 crore
    Thierry DelaporteWiproRs 79.8 crore
       H M Bangur, Prashant BangurShree CementRs 79.2 crore
    Salil S ParekhInfosysRs 71 crore
    CP GurnaniTech MahindraRs 62.7 crore
    HCL Tech's boss C Vijayakumar was the top paid professional. This also included long-term incentive from subsidiary of $12.5 million.
    Sajjan Jindal made it to the top in the highest paid MD and Chairman category due to profit-linked commission of Rs 121. 7 crore because of high profitability for the company.
    Wipro CEO Thierry Delaporte was the second highest paid head in the Nifty pack with an annual pay package of Rs 79.8 crore.
    For some of the IT majors, Infosys' Salil Parekh drew a compensation of Rs 71 crore, Tech Mahindra's CP Gurnani drew Rs 62.7 crore and TCS' Rajesh Gopinathan's was Rs 25.8 crore. The compensation included salaries, bonuses, stock options, incentives and other rewards paid during the year.
    The four IT firms along with Divi's Laboratories, JSW Steel, Hero Motocorp and Shree Cement together accounted for 56 percent of the combined Nifty50 remuneration of Rs 1,419 crore in FY22.
    The other companies that witnessed doubling their CEO's compensation included Larsen & Toubro, Maruti Suzuki, Grasim Industries and Apollo Hospitals Enterprise. On the flip side, ICICI Bank, Kotak Mahindra Bank and HDFC Bank saw their CEO's taking lower remuneration than what they earned last year.
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