“Capitalism is still trying to find a comfortable home in India and it is such instances of high, excessive compensation which in a democracy likes ours gives capitalism a bad name," said Gurcharan Das, author and former chief executive officer of Procter & Gamble India.
Tech mahindra average salary in india software#
Vishal Sikka, Infosys’s former US-based CEO, who faced criticism over higher salary from some of the software services company’s founders, earned ₹ 111.32 crore over three years. Still, TCS chief executive Rajesh Gopinathan earned ₹ 12.49 crore, as against Gurnani’s ₹ 146.19 crore last year. TCS’s $4.97 billion revenue in the January-March period is more than Tech Mahindra’s $4.77 billion sales for the entire year. Sample this: Tech Mahindra reported a 9.6% dollar revenue growth to end with $4.77 billion in revenue in 2017-18 as against TCS’s 8.6% growth to end with $19.1 billion in revenue last year. “If one looks at the last five years of growth, Tech Mahindra has been the fastest-growing company amongst the top five and the stock has been one of the best performers amongst peer group," said the spokeswoman.Īlthough this is correct, Tech Mahindra’s performance-both revenue and profitability-is not significantly better than its four larger rivals.Īgain, as Tech Mahindra is much smaller than TCS or Infosys, it is only expected of the firm to grow faster. “The grant of shares for the executives including MD (managing director) & CEO is based on performance parameters and is decided by the Nomination and Remuneration committee, consisting of non-executive and independent directors,"said a spokeswoman for Tech Mahindra. Tech Mahindra defended the high compensation to its two executives, saying the grant of shares to Gurnani and Nayyar is tied to the company’s performance, with the company having clocked the fastest compound annual growth since 2013. Gurnani and Nayyar’s annual salary has a large component of stock options exercised during the last four years and for this reason, their compensation is higher than their peers.
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