Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinathan's remuneration in FY18 was 212 times compared to the median remuneration of TCS employees in the financial year. Among the executive and non-executive directors of the company, as disclosed in the annual report, COO N Ganapathy Subramanium came second highest at almost 180 times that of the median employee earning.
Gopinathan's total compensation for the financial year was Rs 125 million including profit share. Subramanium earned almost Rs 93 million during the same period. Chief Financial officer Ramakrishnan V earned Rs 33 million last year.
Gopinathan replaced N Chandrasekaran at the TCS leadership last year following the latter's move to lead Tata Sons. Gopinathan's earnings included Rs 100 million worth of commissions apart from gross salary of Rs 10.2 million and other allowances of Rs 8.6 million.
During the year, the company's employee cost rose to FY15 levels of around 54 per cent of total revenue.
“While we continue to hire talent from outside, we have doubled down on investing in internal talent development at scale, empowering individuals to acquire skills that will keep them relevant in an evolving technology landscape. In FY 2018, over 247,000 employees were trained in digital technologies, resulting in them gaining over 861,000 digital competencies,” said Gopinathan in a note to investors.
TCS doled out 120 per cent quarterly variable pay in fourth quarter ended March 31st as it passed on benefits of strong quarter results. The company also announced salary hikes for FY19 in the range of 2-6 per cent depending on geography.
During Q4 results Gopinathan had said, “We have given low single digit wage hikes in the developed markets and high single-digit hikes in developing markets, with high performers getting increases at the higher end of those bands." The salary was effective from April 1st.
TCS also reduced attrition rate by 10 basis points to 11 per cent in the Q4 with the total headcount reaching 394,998 with net addition of 4,118 employees over the quarter.
No comments:
Post a Comment