Parekh’s remuneration comprised of fixed pay, variable pay, retiral benefits, and the perquisite value of stock incentives exercised during the period. Parekh’s total fixed salary grew to Rs 7.47 crore in FY24 from Rs 7.12 crore in FY23. He got bonus of Rs 19.75 crore in FY24, compared to Rs 18.73 crore in FY23.
His remuneration for FY24 also included Rs 39.03 crore on account of exercise of 2,58,636 RSUs (restricted Stock Units). In contrast, during the fiscal 23, Parekh’s remuneration included Rs 30.60 crore on account of exercise of RSUs.
Meanwhile, median remuneration of employees (MRE) was Rs 9,77,868 and Rs 9,00,012 in fiscal 2024 and fiscal 2023, respectively. The increase in MRE in fiscal 2024, as compared to fiscal 2023, was 8.65%.
Nandan M. Nilekani, non-executive chairman of Infosys, voluntarily chose not to receive any remuneration for his services rendered to the company.
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Recently, TCS revealed that its CEO and MD, K Krithivasan’s overall remuneration in FY24 was Rs 25.2 crore, slightly less than former CEO Rajesh Gopinathan’s at Rs 29.16 crore in FY23. Similarly, smaller peer Wipro also disclosed that its newly appointed CEO and MD Srinivas Pallia would receive a maximum compensation of $7 million (Rs 58.4 crore) per annum for the first two years, including a cash compensation that may range from a minimum of $1.75 million and a maximum of $3 million per annum.
