The TCS annual report for 2020-21 has revealed the latest salary of CEO Rajesh Gopinathan and COO N Ganapathy Subramaniam during the last financial year.
The remuneration of Tata Consultancy Services (TCS) top executives rose nearly 55 percent in financial year 2021, with its Chief Executive Officer and Managing Director Rajesh Gopinathan taking home about Rs 20.36 crore.
For the year, Rajesh Gopinathan earned Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission. This compares with a total remuneration of Rs 13.3 crore he earned in the previous financial year, according to TCS’ annual report for 2020-21.
The IT major’s Chief Operating Officer N Ganapathy Subramaniam’s pay package for the year stood at Rs 16.1 crore, which included Rs 1.21 crore salary, Rs 1.88 crore of benefits, perquisites and allowances, and commission of Rs 13 crore.
The rise in the managerial remuneration for the year was 55.22 percent, which is not comparable with FY20 owing to a 15 percent fall in salaries in the fiscal year as economic conditions were impacted by the Covid-19 pandemic.
In FY20, the directors had decided to moderate the executive remuneration for the year to express solidarity and conserve resources, TCS said.
The average annual increase during the year was 5.2 percent in India. However, during the course of the year, the total increase was about 6.4 percent, after accounting for promotions and other event-based compensation revisions. Employees outside India received a wage increase varying from 2-6 percent, which was in line with the market trends in the respective countries.
TCS had a net addition of 40,185 employees during the year, which took it total associate count to 488,649.