Salil Parekh, the CEO of Infosys, ranks as one of the highest-paid executives in India’s IT sector. His compensation for FY24 underscores his prominent position within the industry.
Compensation Details
In the fiscal year 2024 (FY24), Salil Parekh received a total compensation of Rs 66.25 crore. This significant figure primarily stemmed from the exercise of restricted stock units (RSUs), an equity compensation method for employees.
Comparison with Industry Peers
Parekh’s compensation places him second among Indian IT company CEOs, trailing only Thierry Delaporte, the former CEO of Wipro, who earned approximately Rs 166 crore in FY24. Delaporte, who joined Wipro in June 2020 under a five-year contract, previously served as the Chief Operating Officer (COO) at Capgemini Group for 25 years.
Breakdown of Compensation Components
Of the Rs 66.25 crore Parekh earned, Rs 39.03 crore came from the exercise of RSUs. His base salary was Rs 7 crore, with retirement benefits amounting to Rs 47 lakh. Additionally, Parekh received Rs 7.47 crore in variable pay or bonuses.
Career and Background
Salil Parekh assumed the role of Infosys CEO in January 2018. He holds a degree in Aeronautical Engineering from IIT Bombay and a Master of Engineering degree in Mechanical and Computer Science from Cornell University. Prior to Infosys, Parekh held senior positions in the consulting divisions of Ernst & Young and Capgemini.
Parekh’s rise in compensation in FY24 reflects his leadership and strategic contributions to Infosys. His background in engineering and extensive experience in global consulting firms have positioned him to steer Infosys through evolving challenges and opportunities in the IT sector.
