TCS CEO Krithivasan's FY24 Salary Hits Rs 25 Crore, COO Earns Rs 26.18 Crore

Krithivasan's salary falls slightly below that of the former CEO Rajesh Gopinathan, who garnered a remuneration of Rs 29.16 crore for the fiscal year 2022-23

In the financial year 2023-24 (FY24), K Krithivasan, Chief Executive Officer (CEO) and Managing Director at Tata Consultancy Services (TCS), received a total compensation package amounting to Rs 25.4 crore from the leading information technology services firm in India. Krithivasan, who assumed leadership of the company on June 1, 2023, played a pivotal role in TCS's operations throughout the financial year 2023-24 (FY24). His remuneration for this period stood at Rs 25.4 crore, reflects his contributions as the company's global head for banking, financial services, and insurance (BFSI) from April 1, 2023, to May 31, 2023, and subsequently as CEO and managing director from June 1, 2023, to March 31, 2024, as outlined in TCS's FY24 annual report.

Krithivasan's salary falls slightly below that of the former CEO Rajesh Gopinathan, who garnered a remuneration of Rs 29.16 crore for the fiscal year 2022-23 (FY23).

N Ganapathy Subramaniam, the Chief Operating Officer and Executive Director of TCS, who is set to retire in May, was awarded a remuneration of Rs 26.18 crore during the fiscal year 2023-24 (FY24). Subramaniam's salary increased 8.2 per cent in FY24, and his ratio to the median remuneration reached 346.2.

As per the annual report, the median remuneration of employees saw a 10.8 per cent increase in FY24. The company's roster comprises 601,546 permanent employees. In India, TCS employees experienced an average annual salary increase ranging from 5.5 per cent to 8 per cent, with high-performing individuals receiving a double-digit increment.

Throughout the year, the overall increase fluctuated between 7 per cent and 9 per cent, factoring in promotions and other event-based compensation adjustments. The company stated that employees located outside India received salary increases ranging from 1.5 per cent to 6 per cent.

TCS annual report reads, “The increase in remuneration is in line with market trends in the respective countries. In order to ensure that remuneration reflects the company's performance, the performance pay is also linked to organisation performance, individual utilisation, and individual performance.”