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Indian CEOs’ average pay increases to $11.2 million in FY22, a three-year high.

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Indian CEOs' average pay increases to $11.2 million in FY22, a three-year high.

According to statistics from the 2022 Deloitte India Executive Remuneration Survey, the average CEO remuneration in FY21 was 9.4 crores, with a median of 6.4 crores. In contrast, in FY20, the compensation was 9.8 crores, with a median of 6.9 crores.

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According to the Economic Times on June 22, Indian CEOs earned an average of 11.2 crores in FY22, with a median salary of 7.4 crores, the most in the previous three years.

According to statistics from the 2022 Deloitte India Executive Remuneration Survey, the average CEO remuneration in FY21 was 9.4 crores, with a median of 6.4 crores. In contrast, in FY20, the compensation was 9.8 crores, with a median of 6.9 crores. Considering long-term incentives (LTIs), this also covers the pay for professional and promoter CEOs.

Professional CEOs received an average salary of 10 crores, with a median of 7.4 crores. CEOs receive a variable portion of their overall remuneration of over 50%.

More than 470 businesses from the manufacturing, consumer goods, IT, ITeS, services, life sciences, and financial services sectors were included in the Deloitte study.

Anubhav Gupta, a partner at Deloitte, was quoted in the Economic Times as saying, “Limited and highly sought-after talent pool, the talent that is highly fungible within and even across sectors, and persistent gap to global pay levels contribute to the increase in executive pay. At the same time, boards, promoters, and shareholders focus on linking a larger part of the pay to performance.”

According to the report, chief executive officers were paid on average 2.7 times as much as chief financial officers, 3.7 times as heads of business units, and 4.1 times as much as chief human resource officers and directors of sales.

The survey also noted that the average pay for CEOs was 2.4% higher than for COOs, but CXOs’ income has stayed chiefly stable over the past three years.

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