Pvt banks see modest pay hikes; Chanda still highest paid

Private sector bankers have seen a modest increase in their salary this year. ICICI’s head, Chanda Kochhar has emerged as the highest paid banker while Aditya Puri, managing director, HDFC Bank witnessed a dip in performance bonus reports CNBC-TV18's Gopika Gopakumar.

ICICI Bank's managing director, Kochhar took Rs 5.12 crore as her take home salary in FY13. She has topped the list of the bankers getting high pays. Second in the list comes Aditya Puri with Rs 5 crore annual salary followed by Shikha Sharma, chief executive officer, Axis Bank who draws Rs 3.45 crore salary. Uday Kotak, managing director Kotak Mahindra Bank has Rs 2.19 crore as salary and Rana Kapoor, managing director, YES Bank who draws Rs 2 crore salary.
The biggest rise in total salary though was seen by Rana Kapoor who saw a 25 percent increase in total salary in FY13. However, Aditya Puri and Uday Kotak both saw a dip in their performance bonus in FY13. Aditya Puri saw an 18 percent fall in performance bonus and Uday Kotak saw a 9 percent dip in annual bonus.
As far as basic salary hike goes most of the banks have seen a 10-15 percent hike in basic salary and again topping the list is Rana Kapoor with a 25 percent hike in basic salary. Chanda Kochhar and Aditya Puri getting a 15 percent hike each and Shikha Sharma at 17 percent hike.
The trend we are seeing is that this has been a modest increase in salary hike for most private sector banks compared to the heydays were they used to see a 30 plus in fact nearly 50 percent hike in salary. So, considering the macro economic environment and the slowing economy most private sector banks have kept to a modest hike in salary in FY13.