A new study by executive search firm Resource Bridge has revealed that the average compensation for CEOs in India’s listed companies has reached ₹7.2 crore, marking an annual growth rate of 9 percent over the last decade. By comparison, CFOs earn an average of ₹2.3 crore, with their pay rising 1.7 times in the same period. The findings are based on the CEO Compensation Report 2025 and CFO Compensation Report 2025, compiled from a three-month analysis of annual reports from nearly 1,000 listed companies along with publicly available financial data.
Sector, Region, and Ownership Drive Pay Disparities
According to the study, CEO pay has doubled in the last 10 years, while CFO compensation has grown significantly but at a slower pace. Manufacturing sector CEOs continue to command the highest salaries, whereas CFOs in service-led industries are emerging as the best-paid in their category.
The report also highlights stark regional differences, with CEOs and CFOs in North India earning the highest packages, while those in the East receive the lowest, regardless of sector or company size.
Ownership structure plays a major role as well. Multinational corporations continue to lead in executive pay compared to Indian-owned firms. Additionally, companies that surpass turnover milestones of ₹5,000 crore, ₹50,000 crore, and ₹1 lakh crore show steep pay jumps for top executives.
Proprietary Compensation Calculator Launched
The Resource Bridge report also introduces a proprietary compensation calculator designed for promoters, boards, and CHROs. This tool allows them to input variables like turnover, sector, ownership type, region, and financial performance to generate realistic CEO and CFO salary benchmarks.
Spanning over 20 industry sectors with data from FY15 to FY24, the report offers comprehensive insights into how executive pay correlates with financial metrics such as market capitalization, revenue, and profit after tax (PAT), while also factoring in geography, domain expertise, and ownership.