Infosys CEO Salil Parekh Among Highest Paid Indian IT Executives with $7.9 Million Salary
Summary: Salil Parekh, CEO of Infosys, received a 17.3% pay increase, bringing his total compensation to ₹662.4 million ($7.9 million) in fiscal year 2024, making him one of the highest-paid IT chiefs in India. His salary included ₹74.7 million in fixed pay, ₹197.5 million in bonuses, and ₹390.3 million from stock options exercised. Despite this, Infosys experienced its slowest annual revenue growth rate. For fiscal 2025, the company forecasts revenue growth of 1% to 3%, below analysts’ expectations. Comparatively, TCS CEO K Krithivasan earned ₹253.6 million, while Wipro’s new CEO Srinivas Pallia is set to earn between $4.5 million and $7 million annually. Outgoing Wipro CEO Thierry Delaporte earned $20.1 million in fiscal year 2024.
New Delhi: Salil Parekh, CEO of Infosys, saw his compensation rise by 17.3% to ₹662.4 million ($7.9 million) in fiscal year 2024, making him one of the highest-paid IT chiefs in India. As the longest-serving non-founder CEO at Infosys, Parekh received ₹74.7 million in fixed pay and ₹197.5 million in bonuses, incentives, and variable pay, according to the company’s annual report released on Monday.
In addition to his base salary and bonuses, Parekh’s compensation included ₹390.3 million from stock options exercised, significantly boosting his overall earnings. This increase in pay was largely driven by the higher number of stock options he exercised during the year.
Despite the rise in executive pay, Infosys reported its slowest annual revenue growth rate ever in fiscal year 2024 in terms of constant currency growth. Looking ahead, the company has forecasted a revenue growth of between 1% and 3% for fiscal year 2025, which fell short of analysts’ expectations of 2% to 5% growth.
Comparatively, Tata Consultancy Services (TCS), India’s largest IT firm, disclosed that its CEO, K Krithivasan, earned ₹253.6 million in fiscal year 2024, making him the lowest-paid CEO among the top four Indian IT firms. Meanwhile, Wipro’s new CEO, Srinivas Pallia, is expected to earn between $4.5 million and $7 million annually for the next two years following his appointment in April. Outgoing Wipro CEO Thierry Delaporte, who resigned in April, earned $20.1 million in fiscal year 2024.
Salil Parekh’s substantial compensation reflects his significant role in steering Infosys, India’s second-largest software services firm, through a challenging economic landscape while maintaining competitive executive remuneration amidst the industry’s evolving dynamics.
