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Crorepati CEOs in India increase to 596
By siliconindia
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Thursday, 04 September 2008, 01:09 IST
Bangalore: The icing on the executive cake in India is the significant pay hike of 36 percent, whereby the number of top level crorepatis saw a surge with the new addition of another 219 members. This makes the country boast of a total of 596 executives playing in the figures of crores. These executives from 298 companies took home 
1,524 crore from salaries, commissions and perquisites.
Among them, thirty have joined in from the newly listed firms while 53 came in as a result of switching jobs. The salary package for more than 88 executives doubled though the number of the 10 crore plus salaried remained stagnant at 18.
Moreover, the number can soar up to a phenomenal 1400 people if the unlisted firms consisting of big international firms, management consultancies and foreign banks, investment bankers, unlisted retail billionaires and sundry others are taken into account, as reported by Business Standard. There are news that the retail and management consulting sectors shall have executives with top salaries between rupees five and seven crores.
Topping the charts is Tech Mahindra with 10 of its executives play in rupees one crore and plus figure, following it are Larsen & Turbo and Tata Motors with eight of them drawing the phenomenal amount. The list also enlists Nagarjuna Constructions with seven members and Aditya Birla Nuvo, Bharat Forge and Indian Hotels six each.
The companies witnessed an aggregate profit increase by 34.5 per cent at Rs 1,21,454 crore (Rs 90,327 crore) in FY08, but employee cost jumped 26 per cent to Rs 76,124 crore (Rs 60,257 crore). The share of director remuneration to net profit has been almost constant in the last four years at 1.09 per cent.
Between the Ambani brothers, it is Anil Ambani, the Reliance ADAG Group Chairman who have maintained as the highest paid with an amount of Rs 47.98 crore , while Reliance Industries Chairman Mukesh Ambani took home a total compensation of Rs 44.02 crore. But there is a catch in the statement as the younger one , heading the ADAG group has so far received Rs 13.2 crore as commissions (his salary was a mere Rs 11 lakh) even though five months have gone by since the end of the last financial year and the board is yet to approve the disbursal of the 35-crore commission. Out of it his total share would amount to 34.65 crore.
1,524 crore from salaries, commissions and perquisites.
Among them, thirty have joined in from the newly listed firms while 53 came in as a result of switching jobs. The salary package for more than 88 executives doubled though the number of the 10 crore plus salaried remained stagnant at 18.
Moreover, the number can soar up to a phenomenal 1400 people if the unlisted firms consisting of big international firms, management consultancies and foreign banks, investment bankers, unlisted retail billionaires and sundry others are taken into account, as reported by Business Standard. There are news that the retail and management consulting sectors shall have executives with top salaries between rupees five and seven crores.
Topping the charts is Tech Mahindra with 10 of its executives play in rupees one crore and plus figure, following it are Larsen & Turbo and Tata Motors with eight of them drawing the phenomenal amount. The list also enlists Nagarjuna Constructions with seven members and Aditya Birla Nuvo, Bharat Forge and Indian Hotels six each.
The companies witnessed an aggregate profit increase by 34.5 per cent at Rs 1,21,454 crore (Rs 90,327 crore) in FY08, but employee cost jumped 26 per cent to Rs 76,124 crore (Rs 60,257 crore). The share of director remuneration to net profit has been almost constant in the last four years at 1.09 per cent.
Between the Ambani brothers, it is Anil Ambani, the Reliance ADAG Group Chairman who have maintained as the highest paid with an amount of Rs 47.98 crore , while Reliance Industries Chairman Mukesh Ambani took home a total compensation of Rs 44.02 crore. But there is a catch in the statement as the younger one , heading the ADAG group has so far received Rs 13.2 crore as commissions (his salary was a mere Rs 11 lakh) even though five months have gone by since the end of the last financial year and the board is yet to approve the disbursal of the 35-crore commission. Out of it his total share would amount to 34.65 crore.
