Rs 95 crore: HCLTech's Vijayakumar is highest-paid Indian IT CEO

Time of India

2 days ago

Bengaluru: HCLTech CEO C Vijayakumar has emerged as the highest-paid Indian IT CEO, crossing the $10 million mark and topping the compensation charts.
US-based Vijayakumar earned Rs 94.6 crore in the 2024–25 financial year, which comprised a base pay of Rs 15.8 crore, a performance-linked bonus of Rs 13.9 crore, long-term RSUs worth Rs 56.9 crore, and a bonus of Rs 1.7 crore.
Vijayakumar's peers include TCS CEO K. Krithivasan, who earned Rs26.5 crore for the 2023–24 financial year, marking a 4.6% increase from the previous year. Infosys CEO Salil Parekh received a 22% hike, taking his total compensation to Rs 80.6 crore. Wipro CEO Srinivas Pallia, who took over in April last year, earned Rs 53.6 crore; since this is his first year in the role, there is no prior comparison.
According to the firm's annual report, Vijayakumar received a salary increase of 7.9% compared to the previous year.
However, the average salary hike for employees excluding managerial personnel in the last financial year was 3.1%. Vijayakumar's salary was 662.5 times the median remuneration of employees in the 2024–25 financial year. The Board, on the recommendations of the NRC, has approved Vijayakumar's re-appointment as the CEO & MD of HCLTech from September 1 this year to March 31, 2030.
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The annual report highlights that under Vijayakumar's leadership, HCLTech delivered strong performance from FY16 to FY25, with a revenue CAGR of 9.3%—the highest among peers; an EBIT CAGR of 8.1%, ranking second highest; and a net income CAGR of 6.9%, also the second highest in the peer group.
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According to the company's annual report, the Board has approved a more than 71% hike in his remuneration, raising it to $18.6 million (around Rs 154 crore) for the current financial year. "The revised compensation acknowledges C. Vijayakumar's successful and long-tenured leadership as CEO, recognizing his significant contributions to the company's growth and sustained performance over the years." Under his leadership, from FY16 to FY25, the number of $100 million clients increased from 8 to 22, $50 million clients from 19 to 52, and $20 million clients from 75 to 138.
C. Vijayakumar has driven significant growth through a client-centric approach, expanding HCLTech's global footprint and strengthening service excellence. From FY16 to FY25, the number of $100 million clients increased from 8 to 22, $50 million clients from 19 to 52, and $20 million clients from 75 to 138.
"This growth reflects rising client relevance and deepening strategic partnerships, marked by increasing wallet share among HCLTech's top accounts.
It was enabled by a 'One HCLTech' approach, underpinned by an increasingly integrated go-to-market model offering all HCLTech services under a verticalized organizational structure that enhanced client alignment, execution agility, and responsiveness," the firm said in its annual report.
HCLTech chairperson Roshni Nadar said, "Looking ahead, the demand environment is expected to remain challenging as clients continue to exercise caution due to uncertainties around global trade frameworks and geopolitical tensions.
We remain focused on navigating these challenges and ensuring that HCLTech remains well-positioned to leverage the opportunities available," she said. "Technology evolution, driven by AI, is accelerating, and the IT services industry is at an inflection point.
The industry will need to reinvent itself to stay relevant. HCLTech is prepared to adapt to these shifts."
The percentage increase in the median remuneration of employees during the financial year was 17.6%. The company has 1,67,316 permanent employees on its rolls. In addition, there were 56,104 employees on the rolls of its subsidiaries.
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