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- Difference Of CEO And Employee Salary Increased In IT Companies, Highest In Wipro At 1702 Times
New Delhi22 minutes ago
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The difference in salary between a normal employee working in the IT sector in India and the CEO of a company has been increasing continuously in the last 5 years. This difference is up to 1700 times in the top companies of India.
According to a report by TOI, this gap has increased significantly in IT companies Accenture, Infosys, Wipro and HCL, while in IBM the gap between the CEO and employee’s salary has decreased.
Stock grants account for nearly 70% of total CEO compensation in 2023. The average value of stock grants increased 10.7% to $9.4 million in 2023. This has boosted compensation significantly.
The maximum difference in Wipro is 1702 times, while in Infosys it is 700 times
- Infosys founder NR Narayana Murthy had said that the CEO’s compensation (salary + stock grant) should be around 25 to 40 times that of the lowest level employee. But now in his own company, CEO Salil Parekh’s compensation is around 700 times the average remuneration.
- This difference is the highest in Wipro. Former CEO Thierry Delaporte was given $20 million (about Rs 168 crore) as compensation in 2023-24. Whereas the average employees working in the company were given Rs 9.8 lakh. This difference is 1702 times more.
- Within a year in the financial year 2023-24, the ratio between the compensation of HCL CEO C Vijaykumar and the salary of the average employee increased from 253:1 to 707:1 in 2023-24. That is, in a year, the CEO was given 707 times more salary than the employee.
Accenture CEO package in FY 2023 was Rs 264 crore
Accenture Chief Executive Officer Julie Sweet’s package in FY23 was $31.5 million (Rs 264 crores). This was 633 times more than the average salary of $49,842 (Rs 41.84 lakh) of an employee working in Accenture. This average salary was less than $50,512 (Rs 42.40 lakh) in FY2019.
According to a report by executive intelligence platform Equilar, employees of the largest companies listed in the US received a salary of $81,467 in 2023. This was 5.2% more than the average salary received last year i.e. in 2022. This growth ratio of CEO salary compared to the average employee increased from 185 in 2022 to 196 in 2023.
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