Tech Mahindra CEO Earns more than TCS, Infosys & Wipro Boards

Tech Mahindra chief executive officer C P Gurnani has topped India's highest- paid CEOs chart for the year 2016-17 .  The Salary is much higher than the pay package of entire boards of TCS, Wipro and Infosys.

According to a report, In February, Tech Mahindra suspended the appraisal cycle for employees with more than six years of experience pending a management review. The affected employees — who are typically team leaders and above—will have to wait at least two quarters before they are told if they should expect a wage increase.

However, Tech Mahindra Ltd has been the best paymaster when it comes to top executives for the last three years. It has offered a total remuneration of Rs 150.7 crore to CP Gurnani, managing director and CEO.  His salary and the company's contribution to provident fund together were just Rs 2.56 crore.

Most of Gurnani's remuneration — Rs 147.17 crore— comes from the value of the stock options, which were granted to him earlier and exercised last year.

The total compensation of bosses of two of the top three IT firms in India rose. Former CEO of TCS, N Chandrasekaran, who is now chairman of Tata Sons, saw his remuneration rise to Rs 30.15 crore; CEO of Infosys, Vishal Sikka, took a minor pay cut to Rs 45.11 crore after walking home with a 10-fold hike in pay packet in FY2015-16; and Wipro chief too got a pay hike,  report says.

Indian IT firms are beginning to take a second look at their existing cost structures as they focus on defending their margins against higher visa costs and clients who demand pricing cuts. One of the ways to accomplish this is to broaden the pyramid by having more fresh talent than experienced employees who cost more.