HCL Technologies chief executive officer (CEO) C Vijayakumar has emerged as the highest paid Indian IT CEO, based on data released by the company in its annual report.
Vijayakumar’s compensation reached $16.52 million or Rs 130 crore after getting a two-year long-term incentive (LTI) worth $12.5 million, as per HCL Tech’s annual report. Despite no hike during FY22, the LTI was enough to push HCL CEO’s salary past Wipro’s Thierry Delaporte’s Rs 79.80 crore or $10.51 million for the same period.
Among IT CEO peers, Infosys Salil Parekh is ranked third at Rs 71 crore after a jump of 43% while industry leader TCS CEO takes the fourth spot, drawing a relatively modest Rs 25.77 crore in FY22.
Vijayakumar got a hike of 74% in FY21, with a base salary of $2 million and another $2 million in performance incentive, taking the total pay to $4.13 million or Rs 30 crore.
The HCL CEO was also given 900,060 restricted stock options during FY22. During the period, HCL Tech’s chief financial officer (CFO) Prateek Aggarwal saw his compensation increase 36%. During the year, HCL Tech employees saw an average hike of 11.42% in compensation. The average percentile increase in the salaries of employees other than the managerial personnel in the last financial year was 6.85% .
“At HCL Technologies, we have taken pioneering steps in our talent strategy. We are proud of our global team of diligent, diverse and passionate people, all 209,000 plus of them across 52 countries,” Vijayakumar wrote in a note to shareholders.
“They are delivering an extraordinary experience to our clients under the leadership of a world-class management team rooted in our culture of ‘Ideapreneurship’.
