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The remuneration of Tata Consultancy Services (TCS) top executives rose nearly 55 per cent in financial year 2021, with its Chief Executive Officer and Managing Director Rajesh Gopinathan taking home about ₹20.36 crore.
For the year, Gopinathan earned ₹1.27 crore in salary, ₹2.09 crore in benefits, perquisites and allowances, and ₹17 crore in commission. This compares with a total remuneration of ₹13.3 crore he earned in the previous financial year, according to TCS’ annual report for 2020-21.
The IT major’s Chief Operating Officer N Ganapathy Subramaniam’s pay package for the reporting year stood at ₹16.1 crore, which included ₹1.21 crore salary, ₹1.88 crore of benefits, perquisites and allowances, and a commission of ₹13 crore.
Pandemic-hit
The rise in the managerial remuneration for the year was 55.22 percent, which is not comparable with FY20 owing to a 15 per cent fall in salaries in the fiscal year as economic conditions were impacted by the Covid-19 pandemic. In FY20, the directors had decided to moderate the executive remuneration for the year to express solidarity and conserve resources, it said.
The average annual increase during the year was 5.2 per cent in India. However, during the course of the year, the total increase was about 6.4 per cent, after accounting for promotions and other event-based compensation revisions. Employees outside India received a wage increase varying from 2-6 per cent, which was in line with the market trends in the respective countries, it added.
Tata Sons’ Chairman N Chandrasekaran, who had abstained from receiving commission from the company, was paid a ₹3.90 lakh sitting fees during the year.
Employee count
The company had a net addition of 40,185 employees during the year, which took it total associate count to 488,649.
A digital online onboarding model helped the company to effectively integrate associates hires across the globe. Its diverse workforce includes 154 nationalities across 46 countries, while the company is one of the largest employers of women in the world, the report said.
On the business front, TCS weathered the pandemic well. It adapted quickly and embraced a new operating model that prioritised the health and well-being of its employees, while enabling it to continue supporting its customers not just in their mission-critical operations but also in their growth and transformation journeys, Chandrasekaran said in his note.
According to Rajesh Gopinathan, “We are entering FY22 with strong growth momentum and with much better visibility for future growth than we did last year, powered by a strong order book built up throughout the year and a robust deal pipeline”.
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