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In its annual report for financial year 2023-2024, HCLTechnologies reported that its CEO C Vijayakumar’s total remuneration for the fiscal year was about $10.06 million, which is around ₹84.16 crore.
The report mentioned that the CEO earned a base salary of around $1.96 million, a performance-linked bonus of $1.14 million, with around $2.36 million paid in long-term incentive (LTI) cash component and $4.56 million (₹38.15 crore) in LTI – perquisite value of the restricted stock units (RSUs) exercised. The remaining $0.04 million was paid in benefits, perquisites, and allowance.
With a base salary of $1.96 million, Vijayakumar, who took over as the CEO in 2016, is the highest paid among Indian IT services companies’ CEOs for the year. Following close behind is Infosys CEO Salil Parekh, who earned around ₹66 crore, followed by Wipro’s new CEO Srini Pallia who got paid around ₹50 crore. TCS CEO K Krithivasan’s salary for the year was around ₹25 crore.
Among the top four Indian IT companies, TCS had the highest revenue for FY24 at ₹2,40,893 crore, followed by Infosys at ₹1,53,670 crore, HCLTech at ₹1,09,913 Crore, and Wipro at ₹89,794 crore.
Meanwhile, the report noted that the median increase in remuneration of HCLtech employees for FY24 was about 7.07 percent.
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