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Indian CEOs' pay package hits Rs 7.2 crore on average: Report
The study underscored that CEO compensation has doubled in the last 10 years
Multinational corporations have outpaced Indian-owned firms in terms of pay at the top levels.
The average compensation for listed Indian companies' Chief Executive Officers (CEOs) stood at Rs 7.2 crore in fiscal year 2024, according to a study by executive search firm Resource Bridge. According to the study, the compensation has increased at an annual rate of 9% over the last decade.
In contrast, the Chief Financial Officers (CFOs) drew an average of Rs 2.3 crore, with compensation levels rising 1.7 times over the same period.
The study underscored that CEO compensation has doubled in the last 10 years, while CFO pay has registered relatively moderate growth. It added that CEOs in the manufacturing sector continued to command the highest pay packages, while CFOs in service-led industries have emerged as top earners among their peers.
A notable regional disparity also comes through in the data as CEOs and CFOs in North India command the highest compensation across the country, while those based in the East consistently earn the least.
Ownership structure also plays a decisive role in executive compensation. Multinational corporations have outpaced Indian-owned firms in terms of pay at the top levels. Additionally, companies that cross critical turnover thresholds of Rs 5,000 crore, Rs 50,000 crore, and Rs 1 lakh crore reported a sharp upward inflection in executive pay.