In the competitive world of corporate leadership, compensation packages for top executives often grab headlines for their staggering figures. Such is the case with Ravi Kumar Singisetti, who emerged as India’s highest-paid CEO for the fiscal year 2023. Leading Cognizant since January 2023, Singisetti’s compensation package reached an eye-watering Rs 186 crore, setting a new benchmark in executive pay in the country’s IT sector.
The Compensation Breakdown
Singisetti’s package, detailed by Mint and Hindustan Times, includes a substantial one-time stock reward valued at $20.25 million (approximately Rs 169 crore). This figure alone underscores the scale at which top executives are remunerated in global IT firms based in India.
Context and Criticism
Cognizant, a major player in the IT services industry, reported a revenue of $19.35 billion (about Rs 1.5 lakh crore) in 2023. Singisetti’s salary represents a small fraction—0.11 percent—of this total revenue, highlighting the disparity between executive compensation and entry-level wages. Recently, Cognizant faced scrutiny over job listings offering modest salaries to new graduates, juxtaposing Singisetti’s compensation against these figures.
Background and Career Trajectory
Ravi Kumar Singisetti’s journey to becoming one of India’s highest-paid CEOs is marked by a distinguished career in the IT sector. He pursued engineering at Shivaji University, Kolhapur, followed by an MBA from Xavier Institute of Management, Bhubaneswar. His professional tenure includes notable roles at Infosys, where he served as President from 2016 to 2022, overseeing global services and chairing the board of Infosys BPM Ltd.
Before Infosys, Singisetti held leadership positions at prominent firms such as PricewaterhouseCoopers, Cambridge Technology Partners, Oracle, and Sapient. His extensive industry experience and strategic acumen positioned him as a sought-after leader in the IT services domain.
Beyond Corporate Leadership
Singisetti’s influence extends beyond corporate boardrooms. He serves on the Board of Governors for the New York Academy of Sciences and is a Director on the U.S. Chamber of Commerce’s Board of Directors. In 2024, he further expanded his impact by joining the Board of Directors for the US India Strategic Partnership Forum, solidifying his role in fostering international business relationships.
Comparison with Other CEOs
Singisetti’s compensation eclipses that of other prominent CEOs in India. Former Wipro CEO Thierry Delaporte earned Rs 82.4 crore in the same period, while Nithin Kamath of Zerodha and S N Subrahmanyan of Larsen & Toubro earned Rs 72 crore and Rs 61.27 crore, respectively. Sandeep Kalra, CEO of Persistent Systems, received Rs 61.7 crore, highlighting the competitive landscape of executive pay among top Indian firms.
