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IndusInd Bank doubles number of Rs 1-crore-plus earners in FY25
New disclosures from the bank’s annual report show 17 employees joined the elite Rs 1 crore annual salary club in FY25, and an additional 33 mid-year hires now draw over Rs 8.5 lakh per month on average.
According to the private lender’s latest annual report, employees earning at least Rs 1.02 crore annually rose 16.2% year-on-year to 122 in FY25.
IndusInd Bank has sharply increased the number of its top-paid executives over the past five years, even as overall headcount saw fluctuations and profits came under pressure.
According to the private lender’s latest annual report, employees earning at least Rs 1.02 crore annually rose 16.2% year-on-year to 122 in FY25, up from 105 in the previous fiscal. This figure has more than doubled since FY21, when just 58 staff members drew such salaries.
While the bank’s total headcount has grown at a compound annual rate of 8% in the past five years, the pool of Rs 1-crore-plus earners has expanded faster, at 11.4% annually.
In FY25 alone, IndusInd added 17 high earners, compared to only four in FY24. Additionally, 33 senior hires joined mid-year, each taking home an average monthly salary exceeding Rs 8.5 lakh. Notably, the rise in this elite pay bracket occurred even in years when the overall workforce shrank, such as FY21 and FY25. In contrast, FY24 saw the addition of 7,500 employees but only a modest increase of four in the high-paid category.
As of March 2025, the bank employed 44,974 people, comprising 36,147 men and 8,827 women, down by 663 from the previous year, as per a CNBCTV-18 report.
“We closed the year with 44,974 employees. While our net headcount was optimised to reflect market realities, we maintained strategic hiring in priority areas such as risk, compliance, technology, vehicle finance, and NRI banking. At the same time, we redeployed internal talent and enabled job rotations to strengthen cross-functional exposure,” the bank noted.
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The annual report did not provide a reason for the surge in high earners. Former Managing Director and CEO Sumant Kathpalia, who stepped down in April 2025, drew Rs 7.5 crore in FY25, unchanged from the year before.
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