C Vijayakumar, the current CEO and Managing Director of HCL Technologies (HCLTech), has emerged as the highest-paid CEO in an Indian IT company for the fiscal year 2024. Under his leadership, HCLTech continues the legacy of its founder, Shiv Nadar, with a global presence spanning 60 countries and a substantial revenue of Rs 1.1 lakh crore.
Breakdown of Compensation Package
In FY 24, C Vijayakumar earned a remarkable Rs 84.16 crore ($10 million) as part of his annual remuneration. This marks a significant increase from his previous year’s earnings, highlighting his pivotal role and contributions to HCLTech’s success.
Components of Annual Compensation
- Base Salary: Rs 16.39 crore
- Performance-linked Bonus: Rs 9.53 crore
- Long-Term Incentive (LTI) Cash Component: Rs 19.74 crore
- LTI – Perquisite Value of RSUs: Rs 38.15 crore
- Benefits, Perquisites, and Allowances: Rs 33 lakh
Growth in Compensation
C Vijayakumar’s compensation has seen a substantial threefold increase from FY 23, where he earned Rs 28 crore ($3.46 million). This growth underscores his pivotal role in steering HCLTech’s strategic initiatives and delivering significant value to shareholders.
Professional Journey and Educational Background
C Vijayakumar’s journey with HCLTech began in 1994 as a senior technical engineer. Over the years, he ascended through various roles within the organization, culminating in his appointment as CEO in October 2016. His educational credentials include a Bachelor’s Degree in Electrical and Electronics Engineering from PSG College of Technology, Tamil Nadu.
Personal Life and Global Presence
Currently residing with his family in New Jersey, USA, C Vijayakumar balances his professional commitments with a global perspective, driving HCLTech’s international growth and innovation strategies.