HCLTech CEO, C Vijayakumar has earned the title of highest paid IT CEO in the country, after his earnings for 2024 were reported to have an impressive hike. As per an annual report unveiled by the company, his remuneration increased by 190.75 percent YoY. Here are more details on the report. The company released their annual report on July 22, according to which C Vijayakumar’s remuneration was revealed to be Rs 84.16 crore for the year. More reports state that he earns a base salary of Rs 16.39 crore (1.96 million USD), along with a performance linked bonus of Rs 9.53 crore (1.14 million USD) and as a long-term incentive he was paid Rs 19.74 crore (2.36 million USD).
His remuneration amounted to 707.46 times of an employee’s average salary. Including the perquisite value of the restricted stock units, benefits and allowance, his remuneration totalled to Rs 84.16 crore (10.06 million USD).
According to the information given, he has been a part of HCL since 1994. Before he earned the position of the company’s CEO, he worked at numerous positions within it. C Vijayakumar acquired his Electrical and Electronics Engineering degree from PSG College of Technology, in Tamil Nadu. He now lives in New Jersey, USA.
He is followed by Infosys CEO Salil Parekh, who became the second-highest paid CEO in IT. For the fiscal year, he made a reported Rs 66.25 crore. While the third-highest position was earned by Srini Pallia, Wipro’s new CEO, who made a remuneration of around Rs 50 crore.
Vijayakumar’s letter to shareholders stated, “We closed the year with revenue of 13.3 billion dollars, up 5.4 percent YoY. Our revenue growth rate was the highest among the tier 1 global IT services companies and our EBIT margin for the year was 18.2 percent.”
Mentioning the company’s workplaces, he stated how they have managed to evolve it. According to him, they have opted for a “balanced and measured” approach, thanks to the communication between the clients and the employees.
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