information technology company Tata Consultancy Services (TCS) Chief Executive Officer (CEO) and Managing Director K Krithivasan took home a salary of over Rs 25 crore in the financial year 2023-24. The company gave this information on Thursday. Kritivasan took charge as the head of the country’s largest IT services company in June last year after the sudden departure of Rajesh Gopinathan from TCS. His appointment is for a period of five years. According to TCS’ annual report, Kritivasan earned a salary of Rs 1.27 crore with benefits and allowances of Rs 3.08 crore in the last financial year and he also got a commission of Rs 21 crore.
Got 21 crores as commission
It said Kritivasan’s income also includes his remuneration as the global head of TCS’ largest banking, financial services and insurance arm. Interestingly, the company’s Chief Operating Officer (COO) NG Subramaniam earned Rs 26.18 crore in the last financial year. Subramaniam, who is soon to retire from the company, held the position throughout the year. He received a salary of Rs 1.72 crore and Rs 3.45 crore as benefits and allowances and Rs 21 crore as commission.
Salary 346 times more than employees
The remuneration of the company’s COO is 346.2 times the average remuneration of its employees. The average remuneration of an employee was Rs 6,01,546 as of March 31, 2024. The report said average annual increases ranged from 5.5 percent to eight percent while top performers received double-digit pay increases. The company said that at the end of the financial year, 35.6 percent of its workforce was women. About 55 percent of the company’s employees are completely working in offices.
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