For the first time in its history, Infosys has paid the highest amount as remuneration to a non-Indian employee who happens to be an American.
In the fiscal year ended March 31, 2012, Stephen R Pratt, the Global Head of Consulting and System Integration at Infosys was paid a gross package of close to $2 million, the highest amount paid by the company to any top level executive during that period.
The divisions that Pratt is heading account for more 30 per cent of Infosys's overall revenues. Moreover, Consulting and System Integration is at the forefront of Infosys 3.0 strategy wherein the company is trying to position itself as a global consulting and system integration corporation.
The salary of Pratt who is also a member of the company’s management council, was well above Ashok Vemuri who was the highest paid employee at Infosys last year. Pratt’s total remuneration during the period including a base salary of $796,580 and bonus and incentives of $1,190,073 million came to about $1.99 million (about Rs 10.56 crore as per today’s conversion rate), the Nasdaq-listed company said in its annual report filed with the US market regulator SEC.
Pratt joined Infosys in 2003 after 12 years of career with Deloitte Consulting as a senior partner. He is also a co-founder of Infosys Consulting.
During the same period, B G Srinivas, Head of Europe and Financial Services & Insurance of Infosys was the second highest paid employees getting a total remuneration of $1.2 million (about Rs 6.37 crore) which is slightly higher than that of Ashok Vemuri, now Head of Americas and Global Head of Manufacturing, Engineering Services, and Enterprise Mobility. Vemuri's total remuneration in fiscal 2012 was $1.18 million (or about Rs 6.3 crore).
Both Srinivas and Vemuri joined as directors in the board of Infosys with effect from June 2011.
Infosys had a headcount of 150,000 at the end of FY2012 of which about 31,200 are located outside of India.