C Vijayakumar of HCLTech has become the highest-paid CEO among Indian IT services companies. His remuneration for the fiscal year 2024 zoomed 190.75 per cent YoY to around Rs 84.16 crore, MoneyControl reported quoting HCLTech’s annual report which came out on July 22.
Vijayakumar has been working with the company since 1994. Before becoming the CEO, he worked in several positions in the HCL. Vijayakumar earned a base salary of around USD 1.96 million (Rs 16.39 crore), a performance-lined bonus of USD 1.14 million (Rs 9.53 crore), around USD 2.36 million (Rs 19.74 crore) was paid in long-term incentive (LTI) cash component.
His remuneration was 707.46 times the median salary of employees. Vijayakumar also got USD 4.56 million (Rs 38.15 crore) in LTI – perquisite value of the RSUs (restricted stock units) exercised and a remaining USD 0.04 million in benefits, perquisites and allowance – totalling USD 10.06 million (around Rs 84.16 crore)
As the company’s CEO and MD, Vijay has spearheaded HCLTech’s strategy to leverage disruptive forces like Digitalization, Cloud, Internet of Things, Cybersecurity and Artificial Intelligence. Vijay holds an Electrical and Electronics Engineering degree from PSG College of Technology, Tamil Nadu. He was born in Tamil Nadu but now resides in New Jersey, US.
After Vijayakumar, the second highest-paid CEO of IT is Infosys CEO Salil Parekh, who drew around Rs 66.25 crore in FY 24, followed by Wipro’s new CEO Srini Pallia who got a remuneration package of around Rs 50 crore.
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