May 9 (Punjab Khabarnama) : Tata Consultancy Services (TCS) CEO and managing director K Krithivasan took home a salary of ₹25.4 crore n financial year 2023-24 (FY24). K Krithivasan took charge of India’s largest information technology services firm on June 1, 2023. As per TCS’s FY24 annual report, his remuneration includes compensation for the full year, with his service as the company’s global head for banking, financial services and insurance (BFSI) from April 1, 2023 to May 31, 2023 and CEO and managing director from June 1, 2023 to March 31, 2024.
TCS’ former CEO Rajesh Gopinathan received a remuneration of ₹29.16 crore for FY23 while the company’s chief operating officer and executive director N Ganapathy Subramaniam received a remuneration of ₹26.18 crore in FY24.
Is there a hike in salaries of TCS employees? What company said
TCS’ annual report showed that the percentage increase in the median remuneration of employees in FY24 is 10.8 per cent. Average annual salary increase for TCS employees in India ranged from 5.5 per cent to 8 per cent. TCS has 601,546 permanent employees. The annual report also noted that top performers of the company received a double-digit increment.
“The increase in remuneration is in line with market trends in the respective countries. In order to ensure that remuneration reflects the company’s performance, the performance pay is also linked to organisation performance, individual utilisation, and individual performance,” the annual report noted.
