As I have blogged in the past about the huge pay packets of bosses at US IT firms, I thought it would be interesting to highlight something I read on the Times of India website. It shows how much the top brass at Indian IT firms earned in the latest financial year.
Just for a measure Mark Hurd, the recently ousted CEO at HP, had a total of $42,514,524 in benefits from HP in 2008. He was still forced out over a false expense claim.
IBM CEO Sam Palmisano's package in 2009 was calculated at $24,313,795.
So here is what the big Indian bosses earned in dollar terms, according to the Times of India report. These are in no particular order, but I put Infosys co-founder N R Narayana Murthy first because he seems to earn much more than anyone else. Why is that? Or is it a mistake?
In general they seem quite frugal compared to the US despite the different cost of living.
How much the Indian IT bosses earned last year:
1 - N R Narayana Murthy, Co-founder & Chairman, Infosys
Total calculated compensation: $6,425,000
2 - Ajai Chowdhry, Chairman, HCL Infosystems
Total calculated compensation: $753,682 (Rupees 33,488,000
3 - Vineet Nayar, CEO, HCL Technologies
Total calculated compensation: $956,550 (Rs 42,500,000)
4 - Pratik Kumar, Executive VP, HR, Wipro
Total calculated compensation: $290,201
5 - Girish S Paranjpe, Co-CEO of IT Business, Wipro
Total calculated compensation: $457,659 (Rs 20,331,683)
6 - Suresh C Senapty, executive director and CFO, Wipro
Total calculated compensation: $457,148 (Rs 20,308,846)
7 - Azim Hasham Premji, Chairman, Wipro
Total calculated compensation: $327,492 (Rs 14,548,851)
8 - Seturaman Mahalingam, CFO and ED, TCS
Total calculated compensation: $383,027 (Rs 17,016,000)
9 - N Chandrasekaran, CEO & MD, TCS
Total calculated compensation: $432,391 (Rs 19,209,000)