Have you ever wondered who is the highest paid executive in India? In the financial year 2024 (FY24), Tata Sons Chairman N Chandrasekaran secured his position as the highest-paid executive in India, earning an impressive Rs 135 crore. This marks a 20% increase from his earnings of Rs 113 crore in FY23. His substantial compensation highlights his significant role in India’s largest conglomerate.
Breakdown of Chandrasekaran’s Earnings
Chandrasekaran’s Rs 135 crore compensation package consisted primarily of:
- Rs 122 crore in profit-linked commission
- Rs 13 crore in salary and perks
This puts him ahead of other prominent executives in India, even surpassing some global figures. For instance, former Wipro CEO Thierry Delaporte earned Rs 167 crore in FY24. However, Delaporte’s compensation was heavily influenced by severance payments and stock option vesting costs, making Chandrasekaran’s earnings largely performance-based.
Additional Income and Shareholdings
Apart from his primary compensation, Chandrasekaran received Rs 17 lakh in sitting fees as a non-executive director for six Tata companies: TCS, IHCL, Tata Steel, Tata Power, Tata Consumer Products, and Tata Chemicals. In addition, he holds shares in these companies valued at approximately Rs 168 crore, further enhancing his financial standing.
Saurabh Agrawal: Second-Highest Earner at Tata Group
Tata Sons’ Chief Financial Officer, Saurabh Agrawal, earned Rs 30 crore in FY24, making him the second-highest paid executive within the group. His compensation saw an 8% increase compared to FY23. Interestingly, Agrawal’s earnings outpaced those of the CEOs of major Tata Group companies such as TCS, Tata Steel, and IHCL.
Compensation of Other Tata Group Executives
The following key executives also received substantial remuneration in FY24:
- K Krithivasan, CEO of TCS: Rs 25 crore
- Puneet Chhatwal, head of IHCL: Rs 19 crore
- TV Narendran, CEO of Tata Steel: Rs 17 crore
Krithivasan’s earnings reflected his dual role as TCS’ global head of BFSI from April to May 2023 and as CEO from June 2023 to the end of FY24.
Other executives in the Tata Group, including Praveer Sinha of Tata Power and Sunil D’Souza of Tata Consumer Products, each earned Rs 10 crore, while R Mukundan of Tata Chemicals earned Rs 8 crore. Many of these executives also own shares in their respective Tata Group companies, further boosting their overall financial position.
Conclusion
The compensation figures for FY24 show the financial rewards for key leadership within Tata Group, particularly for Chandrasekaran, whose strong performance continues to drive India’s largest conglomerate. These earnings reflect not only their leadership capabilities but also the significant role Tata Group plays in the global business landscape.
