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CEO Salaries at top blue chips Soar – The CEO Salaries analysis is based on the disclosures made by 20 out of the total 24 private sector companies on the Sensex.
In a sharp jump, average CEO salaries at top-listed companies in the private sector is approaching Rs. 20 crore — double the level seen just two years ago at about Rs. 10 crore.
An analysis of the CEO salaries for the latest financial year 2015-16 disclosed by the country’s top listed companies, forming part of the stock market benchmark index Sensex, shows that they paid an average overall remuneration of close to Rs. 19 crore to their top executives.
This includes salary, commissions, allowances, value of all perquisites and ESOPs exercised during the year, among other benefits disclosed by the companies as part of the total remuneration to their top-paid executives which included Executive Chairpersons, CEOs or Managing Directors.
The CEO Salaries analysis is based on the disclosures made by 20 out of the total 24 private sector companies on the Sensex, as the remaining four are yet to disclose their figures.
Among the six PSUs on the Sensex, the figure for 2015-16 is available as yet only in case of State Bank of India (SBI), whose Chairperson Arundhati Bhattacharya got just about Rs. 31.1 lakh.
Among the private sector giants on the Sensex, the highest-paid in 2015-16 included L&T’s A.M. Naik (Rs. 66.14 crore, more than half of which was ‘value of perquisites’ at nearly Rs. 39 crore), Infosys’ Vishal Sikka (Rs. 48.73 crore) and Lupin’s Desh Bandhu Gupta (Rs. 44.8 crore).
Those at the lower end in terms of overall remuneration were mostly bankers and included Axis Bank’s Shikha Sharma (Rs. 5.5 crore), ICICI Bank’s Chanda Kochhar (Rs. 6.6 crore), HDFC Bank’s Aditya Puri (Rs. 9.7 crore).
At housing finance giant HDFC Ltd, Chairman Deepak Parekh was paid just Rs. 1.89 crore, while Vice- Chairman and CEO Keki Mistry got Rs. 9.3 crore and MD Renu Sud Karnad got Rs. 8.5 crore.
In case of Bharti Airtel, Chairman Sunil Mittal’s total remuneration was Rs. 27.8 crore.
The average CEO salary at the Sensex companies stood at about Rs. 9.9 crore in 2013-14, before rising to nearly Rs. 14 crore in 2014-15. It was lower at Rs. 8.5 crore in 2012-2013.
Source: The Hindu