IT CEO Salary I Mid-Size IT CEOs Get Huge Salary Hikes in Pandemic Year


CEOs of midsize IT companies get huge pay raises in pandemic year

Now is the perfect time to be an executive at a mid-size information technology company right now. CEOs of midsize IT companies earned higher compensation for 2020-21 due to increased business from digital transformation deals during the year.

According to an Economic Times report, Sanjay Jalona, ​​CEO of L&T Infotech (LTI) saw his annual compensation increase by more than 29% during the year, while Indian employees got an increase of 6 % and offshore employees saw their wages increase by 2%.

In its annual report, the company said the increase in compensation for FY21 was greater than that for FY20 because directors cut salaries to conserve company resources in a downturn scenario. pandemic uncertain. The IT company recorded 27.5% profit growth in 2020-2021.

The report adds that Mindtree CEO Debashis Chatterjee’s salary rose 131% to Rs 11.3 crore in FY21, compared to an average increase of 10% for employees. Chatterjee took over the reins of the business in 2019 and the percentage increase is the comparison between a pro-rated period of 2019-20 and the full year 2020-21, he added. The annual report of the company indicates that the fixed remuneration of the executive directors has not changed.

Mindtree reported a 76% increase in profit to Rs 1,105 crore for FY21 and a 12.3% increase in closed deals.

Persistent Systems hired American Sandeep Kalra in October 2020 after Christopher O’Connor’s departure in August. At Rs 11.1 crore in annual compensation, he granted a 153.28% increase over the previous post of chairman of the technology services unit. This increase includes a 110% increase in the value of stock options and compensation paid by Persistent Systems and the company’s US subsidiary.

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