India is home to a wealth of talent, with numerous Indian-born individuals leading some of the world’s top tech companies, such as Sundar Pichai and Satya Nadella, the CEOs of Google and Microsoft, respectively. Another notable figure, though not as widely recognized as Pichai and Nadella, is Salil Parekh, the CEO and Managing Director of Infosys. Parekh commands an impressive daily salary of ₹18 lakh for his contributions to the IT sector.
Who is Salil Parekh?
Salil Parekh is Infosys’s CEO and Managing Director at the moment. Parekh is reportedly the second-highest-paid CEO in India’s IT industry.
Parekh recently made waves in the business sector for his remuneration arrangement, in which Infosys paid him an enormous salary of Rs 66.25 crore.
Salil Parekh’s Salary
As the second-highest-paid CEO in India’s IT landscape, Salil Parekh earns a daily salary of ₹18 lakh, amounting to ₹66.25 crore for the financial year 2023-24. He trails only behind former Wipro CEO Thierry Delaporte, who holds the title of the highest-paid CEO in the Indian IT sector with an annual salary of approximately ₹166 crore for this fiscal year.
Reports indicate that a substantial portion of Parekh’s overall compensation is derived from Restricted Stock Units (RSUs), contributing ₹39.03 crore to his total earnings for FY2024. In addition to the income from RSUs, his annual salary stands at₹7 crore, along with retirement benefits of₹47 lakh and a bonus of₹7.47 crore for this financial year.
In previous fiscal years, Salil Parekh’s earnings were₹56 crore in FY23 and₹71 crore in FY22.
Salil Parekh: Education and Early Life
Salil Parekh holds a bachelor’s degree in aeronautical engineering from IIT Bombay and a master’s degree in computer science and mechanical engineering from the esteemed Cornell University.
Prior to his tenure at Infosys, Parekh spent nearly 30 years at Capgemini, where he advanced to become a member of the group’s executive board and later served as the deputy CEO from March 2015.
On January 2, 2018, Salil Parekh assumed the role of Chief Executive Officer (CEO) and Managing Director of Infosys, succeeding interim CEO U.B. Pravin Rao.