The salaries of top executives across the world have always been a topic of interest as they are at the top of a company’s management. The CEO has the major responsibility of the company’s day-to-day operations and its finances. Here is a look at TCS CEO Rajesh Gopinathan’s salary:
Update: TCS CEO Rajesh Gopinathan Resigns; K Krithivasan Appointed as New CEO-Designate
Gopinathan’s total compensation in the financial year 2021-22 increased by 26.6 per cent to Rs 25.75 crore. It comprised a salary of Rs 1.5 crore, benefits and allowance of Rs 2.25 crore, and a total commission (from earnings) of Rs 22 crore.
TCS pays remuneration by salary, benefits, perquisites and allowances (fixed component) and commission (variable component) to its managing director and the executive directors, the company has said in its annual report. Variable pay, better understood as performance pay, depends primarily on the company’s performance.
Rajesh significantly contributed to TCS becoming the Fortune 500 firms’ preferred partner. Tata Consultancy Group, or TCS, is India’s largest IT services company. Rajesh Gopinathan holds an electrical and electronics engineering degree from NIT, Trichy and a Postgraduate Diploma in Management from IIM-Ahmedabad.
He was reinstated by TCS as managing partner and top executive officer for a further five years, from February 21, 2022, to February 20, 2027, in March 2022.
Recently, there were media reports of 4 lakh employees out of the total 6 lakh staff getting a 20 per cent salary hike during Christmas, while the remaining about 30 per cent employees receive performance-based compensation. This came after the company announced a 100 per cent variable pay for 70 per cent of its staff, compared with 10-20 per cent as variable compensation earlier.
In the latest December 2022 quarter, India’s largest IT services company Tata Consultancy Services reported a consolidated net profit of Rs 10,846 crore, a jump of 11 per cent on a year-on-year basis. During October-December 2022, TCS’ revenue rose 19.1 per cent year-on-year to Rs 58,229 crore.
On a constant currency basis, TCS revenue jumped 13.5 per cent during the December 2022 quarter.
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