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The average compensation for chief executive officers (CEOs) of listed companies in India has reached ₹7.2 crore, reflecting an annual growth rate of 9 per cent over the past decade, according to a study by executive search firm Resource Bridge. In contrast, chief financial officers (CFOs) earned an average of ₹2.3 crore during the same period, with their compensation increasing 1.7 times since FY15.
Manufacturing CEOs, service-sector CFOs among top earners
According to the CEO Compensation Report 2025 and CFO Compensation Report 2025, CEOs in the manufacturing sector continue to receive some of the most lucrative salary packages. Meanwhile, CFOs in service-driven industries have emerged as the highest-paid among their peers.
Analysis spanning 20 sectors across a decade
The findings are based on an analysis of annual reports from nearly 1,000 publicly listed companies, alongside publicly available financial data. The dataset spans financial years 2014-2015 (FY15) to 2023-2024 (FY24) and covers more than 20 industry sectors.
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MNCs outpace Indian firms in executive pay
The report showed that multinational corporations (MNCs) continue to offer higher executive salaries than Indian-owned firms. Ownership structure also plays a decisive role in executive compensation. Firms that cross major turnover thresholds -- ₹5,000 crore, ₹50,000 crore and ₹1 trillion -- show significant increases in CEO and CFO pay levels.
Regional disparities in executive salaries
Executives based in North India command the highest salaries, while those in the East consistently receive the lowest compensation. This pattern holds across sectors and company sizes.
1 in 5 Nifty 50 CEOs earned ₹50 crore in FY24
The proportion of CEOs and managing directors at Nifty 50 firms earning more than ₹50 crore in FY24 has more than doubled since FY19. In FY24, 22 per cent of CEOs and MDs surpassed the ₹50 crore mark, compared to just 10 per cent five years earlier. Among the 10 promoter-CEOs, 30 per cent received compensation above ₹50 crore in FY24, up slightly from 27 per cent in FY19.
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