Hard-work, determination and a vision have placed these business masterminds at top five amongst the highest-paid CEOs in FY2023. According to Forbes, India is at the third position in the world with a billionaire population that touches a whopping 160. A country that is a breeding ground for startups and multinational businesses, Indian is slowly taking over the world with some of the biggest companies having massive annual revenues. And taking these companies to greater highest are their CEOs.
Here’s a list of India’s highest paid CEOs in FY2023 and their massive paychecks might just shock you
Salil Parekh, CEO and MD, Infosys
Salil Parekh, the CEO of Infosys, an IITian, was appointed as the CEO in 2017. He suffered a decrease of 21% in his yearly remuneration for FY 2023, according to the company’s annual report. Parekh received a salary of Rs 56.44 crore in FY 2023 as opposed to Rs 71.02 crore in FY 22, a considerable increase of 43%.
Parekh received a basic pay of Rs 6.67 crore in FY 2023 along with a performance bonus of Rs 18.73 crore. Additionally, he received Rs 45 lakh as additional benefits and Rs 9.71 crore in stock awards. In FY 2023, the median pay for Infosys employees climbed from Rs 8,14,332 in FY 2022 to Rs 9,00,012 , according to Mint.
C Vijayakumar, CEO and MD, HCL Technologies
C Vijayakumar, joined HCL in 1994 and has worked his way up to become the leading man of the the company. According to HCL reports, his annual salary is Rs. 130 crore making him one of the highest paid CEOs of the country. Along with heading one of the biggest companies he is also a board member of US-India Business Council. He resides in New Jersey at present.
Rajesh Gopinathan, former CEO and MD, Tata Consultancy Services(TCS)
In 2017, Rajesh Gopinathan was appointed as the CEO and MD of TCS. According to the company’s annual report, he got a total pay of Rs 29.16 crore in FY 2023, 13.17% increase over FY 2022. His benefits and allowances totaled Rs. 2.43 crore, while his pay was Rs. 1.73 crore. He also received a Rs. 25 crore commission. Gopinathan earned Rs 25.75 crore in pay last year, making him the fifth-highest paid CEO in the Indian IT industry, according to the Economic Times.
Sanjeev Mehta, CEO and MD, Hindustan Unilever
The leading consumer goods company, Hindustan Unilever appointed Sanjeev Mehta as its CEO in October 2013. HUL has emerged as the biggest ‘fast-moving consumer goods’ company of India and being its CEO Mehta received an annual salary of Rs 22.36 crore for FY23, with a marginal rise from Rs 22.07 crore the previous year. Sanjeev Mehta has been associated with the company for about ten years and HUL’s annual turnover for the year 2023 is at Rs. 58,154 crores.
Thierry Delaporte, CEO, Wipro
The salary of the the fourth largest IT services of the country, Wipro’s CEO salary is at a massive amount of Rs 82 crore approx. ($10 million USD) in the FY2023 which was a slight reduction to last year. He received a salary of $1.6 million (about Rs. 13 crore), $4.17 million (roughly Rs. 34 crore), $1.3 million (roughly Rs. 12 crore), variable pay, and the balance $2.9 million (roughly Rs. 23 crore) in various incentives.
