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Infosys CEO Gets 88% Salary Hike

Salil Parekh's salary jumps from Rs 42 crore to Rs 79 crore per annum which is 872 times more than an average employee

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Infosys CEO Salil Parekh’s, new employment agreement which is subject to shareholder approval, sees his compensation increase 88 per cent to Rs 79.75 crore a year. This makes him one of the highest-paid executives in India.

The development was made public in the company’s annual report released today.

For the financial year 2022 (FY22), Parekh's take-home salary stands at INR 71 crore, of which INR 52 crore came from exercising Restricted Stock Units (RSU).   

An enormous salary hike has been unusual for a firm that often prides itself on the humble origins and middle-class background of its' founders. This also further widens the pay gap between the CEO and an average Infosys employee which currently stands at a ratio of 229 (excluding stock-based compensation) and 872 (including stock-based compensation).

Earlier, Co-founder, NR Narayana Murthy has been noted dismissing the idea of giving huge salaries to just the CEOs and instead had backed a ratio of 20 to 25 between the lowest and highest salary.

Meanwhile, Infosys co-founder and chairman Nandan Nilekani has voluntarily chosen not to receive any remuneration for his services rendered to the company.      

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