₹137 crore, that was the targetted pay package for Cognizant’s CEO in FY24. However, according to a filing with the United States Securities and Exchange Commission (US SEC), the IT chief Ravi Kumar S earned ₹70 crore.
We take a look at why the realised pay was lower than targetted, the breakdown of his pay package components, and how his salary compares to other chiefs of Indian information technology companies such as Infosys, TCS and Wipro.
Cognizant CEO Ravi Kumar’s Pay Package — Details
According to the company filing, Cognizant CEO Ravi Kumar’s annual pay for FY24 rose to more than ₹70 crore ($8.2 million), up 14 per cent from the previous year’s salary, as per a Times of India (TOI) report.
It however did note that the realised compensation was lower than the target compensation of ₹137 crore ($16.1 million) for 2024.
Components breakdown of the ₹137 crore pay package:
- Base salary: ₹10.25 crore ($1.2 million), up 20 per cent year-on-year (YoY), compared to FY23 salary.
- ACI target: ₹20.49 crore ($2.4 million), also up 20 per cent YoY.
- Performance share units (PSUs) worth ₹64 crore ($7.5 million), up 9 per cent YoY.
- Restricted stock units (RSUs) worth ₹42.68 crore ($5 million), also up 9 per cent YoY.
CEO vs Employees: Disparity in Cognizant Pay Ratio
According to a report by NDTV, the ratio of Cognizant’s CEO-to-median employee pay in 2024, was at 378:1. The filing showed that Kumar eaned 378x more than an average employee in his company.
(This is a developing story, more updates coming…)
