Million Dollar Pay Club in India Grows

GSK's Praveen Kumar Gupta saw his annual compensation grow by 330 percent this year. While on the other hand, FMCG major Dabur's executives, Sunil Duggal and PD Narang, took a 50 percent cut in their respective salaries as compared to last year. 

Anil Ambani, Chairman of Reliance Group took a major cut and withheld from salary and commissions this year. He took a sitting fee of about 5.4 lakh. Rick Bott of Cairn Energy , V S Iyer of Strides Arcolab, Godrej group's Adi Godrej, Manoj Chhabra from Prism Cement and the Singhanias of JK Cements got more than 100 percent increase in their salaries while Vivek Jain of Gujarat Fluoro took the highest cut. 

Nishchae Suri, MD of global HR consulting firm Mercer India, said, "These are volatile times for any company and so you need to infuse a sense of stability in your operations. Companies in India are looking to get the right person for the top job and if that comes in the form of a professional CEO who has diverse experience they are not hesitating anymore.”

"Our compensation committee has a clear-cut strategy of tightly linking total rewards for the CEOs with business achievement," said Atul Punj, Chairman, Punj Loyd Group on the issue of high salaries. Most experts agree that's the way to structure compensations.

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