In a recent development, Tata Consultancy Services (TCS) has revealed that its CEO, K Krithivasan, received an annual compensation of ₹25.36 crore in FY24. This figure is notably lower than the salaries of CEOs in other major IT firms in India. Notably, even TCS’s outgoing chief operating officer, NG Subramaniam, earned more than Krithivasan during the same period. It is essential to mention that Krithivasan’s salary is for a 10-month period, while Subramaniam’s was for the entire year. Krithivasan took over as CEO from Rajesh Gopinathan on June 1, 2023, who received a total remuneration of ₹29.16 crore.
Krithivasan’s compensation package comprises basic salary, perks, and allowances, along with a commission of ₹21 crore for FY24. He currently holds approximately 11,232 stocks in TCS. It is important to note that his compensation does not include an employee stock purchase scheme (ESPS).
When comparing salaries with other IT firms, it is worth noting that most have not yet released their annual reports for FY24. However, in FY23, Infosys’ CEO Salil Parekh had the highest remuneration of ₹56 crore among IT company CEOs. This was followed by Wipro’s newly appointed CEO, Srinivas Pallia, with an annual package of ₹50 crore. HCL CEO C Vijayakumar earned ₹28.4 crore in FY23, while Tech Mahindra’s Mohit Joshi received ₹6.5 crore plus an equal amount in annual variable pay in FY22-23.
