TCS CEO Rajesh Gopinathan remuneration jumps 26% in FY22
Premium- Of the total compensation, the salary of Rajesh Gopinathan was ₹1.5 crore
IT major Tata Consultancy Services' chief executive Rajesh Gopinathan's remuneration increased 26% to ₹25.7 crore during the financial year 2021-22, according to the company's annual report.
Of the total compensation, the salary of Gopinathan was ₹1.5 crore, benefits and allowances were at ₹2.25 crore and the commission (from profits) stood at ₹22 crore.
The percentage increase in the median remuneration of employees in the financial year is 4.24%.
The average annual increase was in the range of 5-8% in India. However, during the course of the year, the total increase is approximately 10.5%, after accounting for promotions and other event based compensation revisions.
Employees outside India received a wage increase varying from 1.5 to 6%.
TCS last year had re-appointed Rajesh Gopinathan as its chief executive officer for a further period of five years with effect from 21 February, 2022.
Meanwhile, the chief operating officer (COO) N Ganapathy Subramaniam's compensation rose over 28% in FY22.
"At our current pace of growth, it is only a matter of time before we double our revenues and hit the $50 billion mark," Gopinathan said in a letter to shareholders.
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TCS is confident that technology spending will continue to grow. “We are amid a multi-year technology upgrade cycle that provides strong, structural growth drivers for the next few years," Gopinathan added.
The cloud adoption trends strengthened further in FY22, with more clients embarking on multi-horizon cloud transformation journeys. However, TCS believes there has been a change in mindset. “During the year, enterprises moved from thinking of technology-led innovation as a way of coping with pandemic challenges, to looking at it as a means of powering their growth and transformation, especially in the case of clients who had already moved their most critical workloads to the cloud," Gopinathan said.