45% Hike In Infosys CEO's Salary; Package Rises To 49.68 Crores
Infosys CEO Salil Parekh's salary rose to Rs 49 crore in the last fiscal compared to Rs 34 crore in the year before, an increase of 45%. The rise was mainly due to Parekh exercising his strict restricted stock units (RSUs), worth Rs 31 crore during the fiscal, up from Rs 17 crore in fiscal 2019-20, as shown in the company's annual reports.
The ratio of Parekh’s salary to the median remuneration of employees increased to 689: 1 from 502:1. The median pay of employees was Rs 7.2 lakh in fiscal 2021, up from Rs 6.8 lakh in fiscal 2020. Infosys said overall wages at leadership levels remained constant and there were no promotions during the last fiscal at the top level.
Infosys Chairman, Nandan Nilekani said, under Parekh, the company has turned into a more client-focused company. “Our stable and motivated leadership is working quietly and without fuss to ensure Infosys is the partner of choice for the world’s top companies as they navigate their next in these uncertain and rapidly changing times. This has led to unprecedented transformational large deals,” he said.
"Parekh has helped the company report market-leading growth for the last two years with more focus on digital deals, which accounts for more than half of the topliner. The company had over $14 billion of large deals last year, the highest in its history," he added.
Inputs from PTI
