List Of Salaries Of Indian CEOs: Top 15 Highest Paid CEOs In India | Promotedigitally (2024)

Imagine if your salary was more than the annual budget of a small village.

Sounds absurd right?

But that’s how much the salaries of Indian CEOs leading some of the top companies in the country.

Just like how a captain navigates a ship through rough waters, CEOs steer their companies through economic uncertainties and market fluctuations. But unlike the captain, their salaries can often leave the rest of us wondering if they’re truly worth that much.

In this blog, we’ll take a deep dive into the list of the top 15 highest paid salaries of Indian CEOs and explore what makes them worthy of the astronomical compensation. From their humble beginnings to their current swanky lifestyles, we’ve covered everything.

So let’s jump into it…

1. C Vijayakumar: Rs 130 crore

Company- HCL Technologies Limited
Annual Salary- Rs 130 crore
Education- P.S.G. College of Technology (Electrical Engineering)

Vijayakumar is currently the CEO and the MD of HCL Technologies. He began his journey at HCL Tech in 1994 when he joined as a senior technical engineer.

In October 2016, he was promoted to the position of CEO and became the company’s Managing Director in July 2021.

Business Today crowned him as the ‘Best CEO of the Year in the IT/ITES industry for 2020’. He was also included in the list of ‘Top 10 Disruptive CEOs’ by the industry analyst group, HfS.

2. Pawan Munjal: Rs 84.59 crore

Company- Hero MotoCorp Limited
Annual Salary- Rs 84.59 crore
Education- NIT Kurukshetra

Pawan Munjal holds the positions of Chairman, MD, and CEO at Hero Motocorp. In the fiscal year 2020, Pawan Munjal reportedly earned a salary of Rs 84.59 crore.

Under his guidance, Hero Motocorp achieved the esteemed status of the World’s No. 1 two-wheeler company in 2001 and since then maintained this position for 22 consecutive years. Additionally, the company reached the significant achievement of producing and selling over 100 million units in January 2021.

He was ranked 49 in India Today magazine’s India’s 50 Most Powerful People of 2017 list.

3. Thierry Delaporte: Rs 79.8 crore+

Company- Wipro
Annual Salary- Rs 79.8 crore+
Education- Paris-Sorbonne University

Thierry Delaporte, a French businessman and executive, currently holds the position of CEO and MD at Wipro, an Indian IT services company. He took over the top post in July 2020, succeeding Abidali Neemuchwala.

His annual package for the same duration was reported to be Rs 79.8 crore ($10.51 million), which is a significant 20% increase from the previous year, making him third on the list of salaries of Indian CEOs.

Under his management, the stock value of Wipro has risen by more than 70%.

4. Salil S Parekh: Rs 71.02 crore

Company- Infosys
Annual Salary- Rs 71.02 crore
Education– IIT Bombay (Aeronautical Engineering), Cornell University (Master of Engineering)

Salil Parekh took over as the CEO of Infosys on 2 January 2018. Parekh had previously spent 25 years in various leadership positions at Capgemini, where he was a member of the Group Executive Board.

In the fiscal year 2021-22, Parekh’s salary was reported to be Rs 71.02 crore, which ranks him third among the highest salaries of Indian CEOs in Indian IT firms. Furthermore, the company has extended Parekh’s term until 2027, and his package has been raised to Rs 79.75 crore.

5. Naveen Jindal: Rs 70 crore+

Company- Jindal Group
Annual Salary- Rs 70 crore+
Education- Hans Raj College, Delhi University (B.com.), University of Texas at Dallas (MBA)

Naveen Jindal is the chairman of Jindal Steel and Power Limited and chancellor of O. P. Jindal Global University.

He is the youngest child of the late industrialist-philanthropist-politician Shri Om Prakash Jindal and his wife Savitri Jindal, who also held ministerial positions in the Haryana Government until 2014.

He assumed control of the Raigarh and Raipur operations in 1993, and under his leadership, the company is planning to establish the world’s largest single-location steel manufacturing complex at Angul by 2030.

In 2010, he was awarded the Ernst and Young Entrepreneur of the Year Award in the field of Energy and Infrastructure. He has also served as a Member of Parliament, Lok Sabha from Kurukshetra, Haryana in the 14th and 15th Lok Sabha.

6. C P Gurnani: Rs 63.4 crore

Company- Tech Mahindra
Annual Salary- Rs 63.4 crore
Education- NIT Rourkela (Chemical Engineering)

CP Gurnani is the MD and CEO of Tech Mahindra, a global digital transformation, consulting, and business reengineering services provider.

Over a career spanning 40+ years, CP has held several key positions at top companies such as Hewlett Packard Ltd, Perot Systems (India) Ltd, and HCL Corporation Ltd. In addition, CP served as Chairman of NASSCOM for the year 2016-2017.

CP’s contributions extend beyond the corporate realm, as he also founded an NGO called ‘Titliyan‘. The organization is focused on providing quality education and developing life and social skills for over 240 underprivileged children.

In 2018, CEOWORLD magazine ranked him as the 488th ‘Best CEO In The World.’ He has also been featured in a Harvard Case Study on ‘Tech Mahindra and the Acquisition of Satyam Computers.’

You will also like our other blog: 11 Youngest Indian Billionaires- Billion Dollar Journey

7. Natarajan Chandrasekaran: Rs 58 crore

Company-Tata Group
Annual Salary- Rs 58 crore
Education- Coimbatore Institute of Technology (B.Sc.), NIT Tiruchirappalli (MCA)

In 2009, N. Chandrasekaran was appointed as the CEO of the Tata Group, making him the first non-Parsi and professional executive to hold this position. He led the company to achieve a market capitalization of over $70 billion and become the largest private-sector employer in India.

In addition to being the current chairman of the Tata Group, he previously served as the CEO of TCS and Chairman of Tata Motors and Tata Global Beverages.

Chandrasekaran has been recognized with numerous awards, including being voted as the ‘Best CEO’ for five consecutive years by the Institutional Investor’s Annual All-Asia Executive Team and being named ‘Best CEO’ for the second consecutive year in 2014 by Business Today.

Aside from his professional accomplishments, Chandrasekaran is an avid marathon runner and has competed in marathons around the world.

8. Rajiv Bajaj: Rs. 39.86 Crore

Company- Bajaj Auto
Annual Salary- Rs. 39.86 Crore
Education- University of Pune (Mechanical Engineering), University of Warwick (Masters in Manufacturing Systems Engineering)

Rajiv Bajaj has been the MD of Bajaj Auto since 2005.

After returning from the UK, he started at the shop floor level and worked his way up through the company, gaining experience in manufacturing & supply chain, R+D, marketing and sales.

Rajiv Bajaj’s leadership has been pivotal in transforming Bajaj Auto’s strategy and direction. He recognized the potential of the motorcycle market and was instrumental in introducing Bajaj Auto to this segment, which greatly accelerated the company’s growth.

His outstanding leadership and contributions to Bajaj Auto have been recognised by India Today magazine, which ranked him 42 in ‘India’s 50 most powerful people of 2017’ list.

9. Saugata Gupta: Rs 36.1 crore

Company- Marico Limited
Annual Salary- Rs 36.1 crore
Education- IIT Kharagpur (B.Tech), IIM Banglore (PGDM)

Saugata Gupta is the CEO of Marico Limited, a multinational consumer goods company based in India.

He joined the company in 2004 as the head of marketing and has been leading it since 2013. Gupta played a significant role in Marico’s success both in India and internationally.

In 2017, Gupta’s salary was Rs 16.5 Crore, and in FY22, it grew by 157% to Rs 36.1 crore, making him the highest-paid CEO in the FMCG segment.

10. Om Prakash Manchanda: Rs 33.20+ crore

Company- DR Lal Pathlabs Pvt
Annual Salary- Rs 33.20+ crore
Education- IIM Ahmedabad (MBA), Harvard Business School

Om Prakash Manchanda is the CEO of Dr. Lal Path Labs Pvt. Ltd and has been with them since 2005.

He began his career at HUL (1990-1999) after completing his studies at IIMA. He then worked at Monsanto (1999-2003) and Ranbaxy (2003-2005) before joining Dr Lal PathLabs.

During his tenure at Ranbaxy, Om Manchanda was part of the team responsible for the company’s venture into the healthcare division.

His experience and leadership have been instrumental in driving the growth of Dr. Lal Path Labs, making it a leading diagnostic service provider in India.

11. Ajay Srinivasan

Company- Aditya Birla Capital
Annual Salary- Rs 28.22 crore
Education- IIM Ahmedabad (MBA)

Ajay Srinivasan was the former CEO of Aditya Birla Capital Limited (ABCL), the holding company for all financial services businesses under Aditya Birla Group.

Prior to joining Aditya Birla group, Ajay served as chief executive-fund management at Prudential Corporation Asia, based in Hong Kong from January 2001 to July 2007.

He joined the Birla group in 2007 as the chief executive-financial services. Under his leadership, Aditya Birla Capital Limited grew to become one of the largest non-bank financial services players in India.

12. Sanjiv Bajaj

Company- Bajaj Finserv
Annual Salary- Rs 28 crore
Education- University of Pune (Mechanical Engineering), University of Warwick (Manufacturing systems engineering), Harvard Business School

Sanjiv Bajaj, the Chairman, MD and CEO of Bajaj Finserv, is the great-grandson of the founder Jamnalal Bajaj.

He started his career with Bajaj Auto in 1994 and after the demerger of Bajaj Auto in 2007, he became the MD of Bajaj Finserv. Sanjiv is known for bringing american-style supply chain management to Bajaj Auto, using general motors as a model.

Under his leadership, Bajaj Allianz general insurance became the second most profitable insurance company in India by 2017. In recognition of his achievements, he has been named the ‘Banker of the Year 2019’ by Financial Express and received the Economic Times award for ‘Business Leader of the Year in 2018’.

13. S N Subrahmanyan

Company- Larsen & Turbo
Annual Salary- Rs 27.17 crore
Education- NIT Kurukshetra (Civil Engineering), Symbiosis Institute of Business Management, Pune(MBA)

Sekharipuram Narayanan Subrahmanyan is the CEO & MD of Larsen & Toubro. He began his career with Larsen & Toubro in 1984 and has been associated with the company for over three decades.

In 2017, he took over as CEO and MD from Mr Anil Manibhai Naik. He has been appointed as Chairman of the National Safety Council (NSC) for three years by the Union Ministry of Labour & Employment in February 2021.

S N Subrahmanyan has been recognized as the ‘Best CEO in the Infrastructure Sector’ by Fortune India’s best CEOs 2022 and the ‘Best CEO in the Infrastructure & Engineering’ category by BT-PwC India’s Best CEOs ranking 2022.

14. Rajesh Gopinathan

Company- Tata consultancy services
Annual Salary- Rs 25.75 crore
Education- NIT Tiruchirappalli (B.Eng.), IIM Ahmedabad (MBA)

Rajesh Gopinathan is the CEO and MD of Tata Consultancy Services (TCS), a global IT services and consulting organization.

He joined the Tata Strategic Management Group in 1996 and has been an instrumental figure in the company’s growth. In February 2017, Rajesh was promoted to the role of Chief Executive, having served as the Chief Financial Officer since 2013.

Due to his contributions, TCS became a 22 billion dollar company at the end of the fiscal year 2020. He has been recognized as India’s best CEO in the category of Super large companies by Business Today in 2021.

15. Vivek Gambhir

Company- Boat Lifestyle
Annual Salary- Rs 20.09 crore
Education- Lafayette College (computer science and economics), Harvard Business School (MBA)

Vivek Gambhir is currently serving as the CEO of Boat lifestyle since 2021. Prior to this role, he was the Managing Director and CEO of Godrej Consumer Products Limited (GCPL), where he joined as Chief Strategy Officer in 2009.

Vivek has been credited with enhancing the strategic capabilities within the Group companies, guiding overall Group strategy, and conducting critical analyses.

He has previously worked as a partner at Bain & Company, one of the world’s leading business consulting firms, and was a founding member of Bain’s consulting operations in India.

Along with his professional commitments, Vivek also shares his leadership insights through his weekly blog named ‘Monday-8 am‘.

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FAQs about Salaries of Indian CEOs

Who is highest paid CEO in India?

C Vijayakumar, the CEO of HCL Tech, has emerged as the highest paid CEO in India with a whopping compensation of $16.52 million or approximately Rs 130 crore, according to the company’s annual report.

How much do Indian CEOs get paid?

The average annual salary for a CEO in India is estimated to be Rs 30.0 Lakhs, with a salary range of ₹ 4.0 Lakhs to ₹ 101.3 Lakhs based on data from 2.3k latest salaries.

According to Aeron’s 12th annual salary survey, senior executives in India, including chief executives, can expect an average salary increase of 9.1% in 2023

Which CEO has the highest salary?

Elon Reeve Musk reigns as the highest paid CEO, with a staggering annual compensation of over $6.7 billion for his roles at SpaceX and Tesla.

What is Elon Musk’s salary?

Elon Musk gets a staggering annual compensation of over $6.7 billion for his roles as owner of SpaceX and CEO of Tesla.

Do CEOs choose their salary?

Yes, CEOs have the power to choose their own salary, but it’s not like they just pluck a number out of thin air. They typically work with their board of directors and compensation committees to determine a fair and competitive salary based on their experience, performance, and industry standards.

Why do CEOs get paid so much?

The reason salaries of Indian CEOs is quite high due to the fact that their role demands exceptional abilities, expertise, intelligence, and experience. As the head of an organization, the CEO is responsible for its overall success, making them typically the most highly compensated member of the company.