If the executives earning over Rs 1.02 crore more than doubled last fiscal compared to FY18, the number of executives who earned over Rs 3 crore salary saw significant jump as well.
Over 60 senior executives apart from key managerial personnel in Infosys have earned more than Rs 1 crore for the fiscal ended March 31, 2019. The number was 29 in FY 2018.
If the number of executives earning over Rs 1.02 crore more than doubled last fiscal compared to FY18, the number of executives who earned over Rs 3 crore salary saw a significant jump as well.
In FY18, only Ramadas Kamath U, Executive Vice President (EVP) and Head – Administration, facilities, infrastructure and security and sustainability and Binod Rangadore Hampapur, drew a salary of over Rs 3 crore.
In 2019 though, their salaries were raised to Rs 7 crore. Apart from Kamath and Hampapur, the ones who saw a significant hike in salaries reaching over Rs 5 crore include Deepak Padaki, EVP and group head- corporate strategy officer and chief risk officer, who earned Rs 3.16 crore (a 75 percent hike), Krishnamurthy Shankar, EVP and group Head, Human Resources and Infosys Leadership Institute, who earned Rs 5.05 crore and joined Infosys in October 2015. Shankar’s previous salary figure was not available.
Narasimha Rao Mannepalli, EVP and Head Global Services, IVSU & CIS, earned Rs 2.99 crore for FY19, a 50 percent increase over the previous year. Others include Dinesh R, EVP and Head Global Services, EAS at Rs 2.93 crore, up 24 percent compared to previous fiscal.
Among key managerial personnel, after Salil Parekh, CEO, Infosys who took home Rs 24.67 crore, Mohit Joshi, President, remuneration was the second highest at Rs 15 crore. Ravi Kumar S, President and Deputy Chief Operating officer, earned 13.26 crore for the FY19. The salary of UB Pravin Rao, COO, payscale, stood at Rs 9.1 crore.
“A significant part of the increase in remuneration of the above-mentioned employees in fiscal 2019 compared to fiscal 2018 is on account of the increase in perquisite value of stock incentives previously granted and exercised during the year,” the company’s annual report stated.The number of employees with an average salary of Rs 8.5 lakh per month who were employed for part of the year in India too saw a significant increase. While the number stood at five in FY18, it more than tripled to 17 in FY19.
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