New Delhi: India has Asia's third richest billionaire, the world's costliest house and some of the most well paid executives. While the pay cheques of many employees part of an aspirational India are on the rise as well, one couldn’t really be sure of how wide the divide actually goes.
However, a trend of several listed companies in India disclosing information like salary hikes for the top management personnel and the average staff and more, reveals where employees stand as compared to the employees.
As per information disclosed by companies, there is a huge difference between the pay hike figures for the top management personnel and an average staff member, sometimes even going over 900 times the median staff pay.
Here is a list of six such CEOs:
TCS CEO N Chandrasekaran
Chandrasekaran receives Rs 2.28 crore as salary, Rs 2.64 crore as perquisites and Rs 19 crore as commission and Rs 1.73 crore in other allowances. His compensation rose 20 per cent recently and also he received an additional Rs 10 crore as part of a one-time special bonus. This takes his tally to 459 times the median pay at the company.
Infosys CEO Vishal Sikka
Sikka earned $7.45 million (Rs 4.9 cr approx) in FY16. His compensation is expected to rise to $11 million (Rs. 7.3 cr approx) a year starting January 2017. This takes his pay to a staggering 935 times the median remuneration of employees.
Axis Bank CEO Shikha Sharma
Sikha Sharma gets a salary of Rs 1.25 crore. This figure makes her pay 74 times the median remuneration the bank offers to its employees.
ICICI Bank CEO Chanda Kochhar
The board of directors rewarded the Managing Director and Chief Executive Officer Kochhar with a salary of Rs 5.85 crore. Her pay is 97 times the median remuneration of employees.
Wipro CEO T K Kurien
Wipro CEO T K Kurien got a pay package of Rs. 10 crore. This was 170 times of the median employee remuneration.
HUL CEO Sanjiv Mehta
Mehta's pay including salary, perquisites, bonus and contribution to provident fund minus stock options is Rs 14.17 cr. This positions his pay at 93 times the median level offered at the company.