Wipro, Coforge among firms with highest paid IT CEOs in FY24: Check list

Coforge CEO Sudhir Singh's annual remuneration in FY24 stood at Rs 105.12 crore, positioning him at the second spot after Wipro's former CEO Thierry Delaporte

Former Wipro CEO Thierry Delaporte, who resigned in April, took home a whopping $20 million (Rs 166 crore) compensation for the financial year 2023-24 (FY24), emerging as the highest-paid CEO in the Indian IT services sector.

Next to him, chief executives of mid-cap companies Coforge and Persistent Systems are in the top five spots, earning more than their counterparts in TCS and Infosys in the last financial year, The Economic Times reported on Friday.

According to the news report, Coforge CEO Sudhir Singh’s annual remuneration in FY24 stood at $12.5 million (Rs 105.12 crore), positioning him at the second spot after Delaporte.

Singh was followed by HCLTech CEO C Vijayakumar, whose annual compensation for FY24 stood at $10.06 million (Rs 84.17 crore).

Sandeep Kalra of Persistent Systems earned Rs 77.1 crore ($9.1 million). Meanwhile, Infosys CEO Salil Parekh earned $7.8 million (Rs 66 crore) and secured fifth spot on the list.

Next in the list is Nitin Rakesh of Mphasis at $5.2 million (Rs 44.13 crore), followed by K Krithivasan, CEO of the country’s largest IT firm TCS, who earned $3 million (Rs 25.2 crore) in FY24. To be clear, Krithivasan took charge of the company in June 2023.

Meanwhile, IT firm LTI Mindtree CEO Debashis Chatterjee was paid $2.3 million (Rs 19.34 crore) in total compensation in FY24.

Top 5 CEOs ranked according to their earnings in FY24:

1) Thierry Delaporte - Wipro

2) Sudhir Singh - Coforge

3) C Vijayakumar - HCL Tech

4) Sandeep Kalra - Persistent Systems 

5) Salil Parek - Infosys 

In April, Business Standard had cited Randstad India to report the average corporate salary increment for FY24 performance was expected to hover around 8-11 per cent. However, IT companies, reeling under the impact of global headwinds, were expected to see one of the lowest salary hikes at 7 to 9 per cent, the company said.

On July 18, The Times of India reported that Infosys awarded its employees an average salary increase of 9 per cent, while Wipro offered a 9.2 per cent hike. TCS granted salary raises ranging from 7 to 9 per cent for the fiscal year 2024.