Former TCS CEO Rajesh Gopinathan’s Pay Jumped 120% In Three Years, Took Home Nearly Rs 30 Cr In FY23
The much-awaited Tata Consultancy Services (TCS) annual report for FY23 is here and it shows the top brass at India’s largest tech giant (by revenue and market capitalisation) saw its annual compensation hike a whopping 120 percent in the past three years.
According to the company’s annual report for FY23, Gopinathan’s overall remuneration jumped 13.17 per cent to Rs 29.16 crore when compared to Rs 25.75 crore he had received in FY22.
While Gopinathan’s salary for FY23 stood at Rs 1.73 crore, he pocketed Rs 25 crore as commission, and Rs 2.43 crore as benefits, perquisites, and allowances.
Although Rajesh Gopinathan’s salary grew by a modest percentage in the fiscal under review, his remuneration was still 427 times the median pay of employees at the Mumbai-headquartered IT services company.
Despite heading India’s largest IT company, Gopinathan’s paycheck is smaller compared to his counterparts at other top IT firms.
While Gopinathan’s peer at Infosys, Salil Parekh, made Rs 56.44 crore in FY23, Wipro CEO Thierry Delaporte earned around Rs 82 crore. Tech Mahindra and HCL Technologies have not yet released their annual reports.
In fact, Gopinathan’s remuneration is also lower than what his predecessor N Chandrasekaran drew in FY17.
In his final letter to the shareholders, Gopinathan opened up about his final year as CEO of TCS. He also wished the company well for its future endeavours.
“In FY2023, we focused on utilising the spare capacity built up in the prior year, and recalibrated our hiring, especially as attrition started falling in the second half of the year. I am confident that TCS’ best years are ahead, and I look forward to watching the company’s continued success from outside,” he said.
It is worth noting that TCS’ FY23 annual report further shows that the company’s top brass executives enjoyed an annual compensation hike of a whopping 120 percent in the last three years.
Meanwhile, K Krithivasan replaced Gopinathan as CEO from June 1. Mr Krithivasan will draw a basic salary of Rs 10 lakh per month, which can go up to a maximum of Rs 16 lakh per month.
