HCLTech CEO C Vijayakumar Emerges as Highest-Paid Indian CEO
The Indian IT industry has witnessed a significant development with HCLTech CEO C Vijayakumar recently being named the highest-paid CEO in the country. According to the company’s latest annual report released on July 22, Vijayakumar’s total remuneration for the fiscal year 2024 soared to approximately Rs 84.16 crore, marking a remarkable 190.75 percent year-on-year increase.
Breaking down his earnings, Vijayakumar received a base salary of around $1.96 million (Rs 16.39 crore), along with a performance-linked bonus of $1.14 million (Rs 9.53 crore). Additionally, around $2.36 million (Rs 19.74 crore) was paid as a long-term incentive (LTI) cash component. Moreover, a substantial $4.56 million (Rs 38.15 crore) was granted in LTI – perquisite value of the RSUs (restricted stock units) exercised, with the remaining $0.04 million allocated for benefits, perquisites, and allowance, making the total sum $10.06 million.
The annual report also revealed that Vijayakumar’s remuneration stood at 707.46 times the median salary of employees at HCLTech, shedding light on the substantial pay gap within the organization.
In a letter addressed to the shareholders, Vijayakumar highlighted the company’s impressive revenue growth of 13.7% year-on-year in constant currency, with the services division experiencing a 15.8% year-on-year increase. He emphasized that HCLTech’s revenues surpassed the monumental milestone of ₹100,000 crores, while the employee count reached 225,000, including over 25,000 entry-level recruits. The company’s services span across Digital, Engineering, Cloud, AI, and Software, all supported by strategic alliances for a robust business portfolio.
Vijayakumar also touched upon the evolving workplace dynamics, endorsing a virtual-first, hybrid model that offers flexibility to employees for utilizing office spaces and embracing remote work when necessary. The approach, he noted, has been driven by open dialogues with employees and clients to establish a balanced and adaptive work model tailored for the current environment.
As the technology landscape continues to evolve rapidly, HCLTech’s CEO’s notable achievements and strategic vision underline the company’s commitment to innovation, growth, and employee well-being in a dynamic global market.
