The IT service firm, Infosys has paid more than Rs 1 crore in compensation to 74 employees in FY2019-20. The number has gone up as compared to last year’s 64.
The jump sounds surprising considering the current pandemic situation and economic downturn. Infosys has not offered
The remuneration includes fixed pay, variable pay, retrial benefits, and stock options. The overall wages at leadership levels remained at constant or lower. There have been no promotions during 2019-20 at the leadership level. Most of the key management personnel (KMP) did not go through the increment cycle in the last fiscal.
The ratio of CEO Salil Parekh and COO UB Pravin Rao’s pay to MRE was 502 and 155 respectively. CEO Salil Parekh took home Rs 34.27 crore in FY2019-20, recording 39% jump.
CEO Salil Parekh said, “We can already see several European countries and US states starting to re-open. We see stability and expansion in our work in the global telecommunications, high technology and life sciences industries. We remain extremely focussed on the needs of our clients in this environment and even more ready to expand our support to our clients as the world collectively emerges from the unprecedented situation.”