In the financial year 2023-24, Tata Consultancy Services (TCS) CEO and MD K Krithivasan received an annual compensation of Rs 25.36 crore, which is reported to be the lowest among large IT companies. His compensation package comprised basic salary, benefits, perquisites and allowances, and commission. Notably, Krithivasan was granted a commission of Rs 21 crore in FY24, as stated in the IT services company’s annual report.
K Krithivasan’s salary in FY24 was Rs 25.2 crore, Earning Source?
Krithivasan’s salary is slightly lower than that of former CEO Rajesh Gopinathan, who received a salary of Rs 29.16 crore for FY23. Meanwhile, N Ganapathy Subramaniam, TCS’s chief operating officer and executive director who is set to retire in May, received a salary of Rs 26.18 crore in FY24.
Subramaniam’s salary saw an 8.2% increase in FY24, and his ratio to the median remuneration stood at 346.2. According to the annual report, the median remuneration of employees saw a 10.8% increase in FY24. TCS has a total of 601,546 permanent employees. The average annual salary increase for TCS employees in India ranged from 5.5% to 8%, with top performers receiving a double-digit increment.
Who is K Krithivasan?
After spending more than 22 years at Tata Consultancy Services (TCS), Rajesh Gopinathan decided to step down from his role to try new things. The TCS Board, led by Tata Sons Chairman N Chandrasekaran, chose K Krithivasan to be the new CEO designate. He will officially become TCS’s new MD and CEO starting September 15, 2023, as announced by the IT company.
K Krithivasan was born in Chennai sometime between 1965 and 1972. K’vasan lives with his wife and children in Tamil Nadu. Now, he’s getting ready to move to Mumbai for his new role as CEO Designate. In his free time, Krithivasan enjoys running and loves reading books. Interestingly, he’s been studying Sanskrit intensively for the past few years.
Krithivasan earned a Bachelor’s degree in Mechanical Engineering from the University of Madras. Later, he went to IIT Kanpur to get his Master’s degree in Industrial and Management Engineering. K’vasan also attended some programs at Harvard Business School to learn more about leadership and business.
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