In a country where millions hustle daily to make ends meet, the jaw-dropping salaries of India’s top CEOs often become headline news—and not without reason. These leaders sit at the helm of billion-dollar companies, steering strategic decisions that impact the economy, the stock market, and even your job. But what exactly goes into a CEO’s salary? Who are India’s top earners in the corporate world? And are they really worth the money?
Let’s break it down in a way that’s easy to follow and deeply insightful.
Understanding CEO Compensation in India
Before we jump into the list, let’s understand what “salary” really means when we talk about CEOs. It’s not just a number on a paycheck.
1. Fixed Salary
This is the base pay that doesn’t change—kind of like your monthly salary.
2. Performance Bonus
This bonus is usually based on how well the company performs—think revenue growth, market share, or cost savings.
3. Stock Options (ESOPs)
This one’s huge. Many CEOs receive shares or stock options that can be worth crores if the company performs well.
4. Perks and Other Benefits
Housing, cars, travel allowances, club memberships—even life insurance. These perks add serious value.
So when we say a CEO made ₹80 crore last year, we’re usually talking about the total of all these components combined.
Top 10 Highest Paid CEOs in India (FY 2023–24)
Here’s a curated, fact-backed list of India’s highest-paid CEOs and how they made their money.
1. Mukesh Ambani – Chairman & MD, Reliance Industries
Total Compensation: ₹15 crore (plus dividends worth thousands of crores)
- Interestingly, Mukesh Ambani has kept his salary capped at ₹15 crore since 2008.
- His real wealth comes from dividends and shareholding in Reliance.
- In FY23, he earned over ₹4,000 crore just through dividends from Reliance shares.
Did you know? Ambani voluntarily gave up bonuses and perks to promote salary moderation during economic slowdowns.
2. C P Gurnani – Former CEO & MD, Tech Mahindra
Total Compensation: ₹63.4 crore
- Gurnani was among the highest-paid IT CEOs before retiring in 2023.
- His package included performance-linked incentives and stock options.
- Under his leadership, Tech Mahindra expanded globally and recorded consistent revenue growth.
Insight: His retirement payout also contributed significantly to his 2023 compensation.
3. S N Subrahmanyan – CEO & MD, Larsen & Toubro (L&T)
Total Compensation: ₹61.27 crore
- One of the highest-paid non-promoter CEOs in India.
- His pay included a significant amount from performance-based bonuses and stock options.
- Oversaw L&T’s success in infrastructure, IT, and defense sectors.
Why it matters: L&T’s shareholder value grew strongly during his term, justifying the high package.
4. Salil Parekh – CEO & MD, Infosys
Total Compensation: ₹56.45 crore
- A major chunk comes from RSUs (Restricted Stock Units), which are stock-based incentives.
- Under his leadership, Infosys crossed $18 billion in revenue.
- He has a 5-year term with renewal provisions linked to company performance.
Fun Fact: Parekh was also offered retention bonuses worth crores to ensure leadership continuity.
5. T V Narendran – CEO & MD, Tata Steel
Total Compensation: ₹21.4 crore
- Focused on sustainability, digital transformation, and overseas expansion.
- His pay included cash bonuses, perks, and long-term incentive plans.
- Tata Steel turned profitable in the UK under his leadership—big win!
Note: His compensation reflects consistent long-term performance in a volatile global steel market.
6. Sanjiv Mehta – Former CEO & MD, Hindustan Unilever (HUL)
Total Compensation: ₹22.36 crore
- Led HUL during a high-growth phase post-pandemic.
- Known for driving digital transformation in FMCG.
- Took home a large portion in bonuses and profit-linked pay.
Relatable Fact: His leadership helped increase HUL’s penetration into rural India.
7. Rajesh Gopinathan – Former CEO & MD, TCS
Total Compensation: ₹29.16 crore
- Received both salary and severance benefits in FY23.
- Played a vital role in maintaining TCS’s position as India’s top IT exporter.
- Also received stock options during his term, contributing to his high exit payout.
Did you know? Gopinathan was instrumental in strengthening TCS’s presence in North America.
8. Sandeep Kataria – CEO, Bata India
Total Compensation: ₹9.3 crore
- Instrumental in reviving Bata’s brand image post-COVID.
- Drove e-commerce growth and introduced new retail strategies.
- Compensation includes stock options and cash bonuses.
Trivia: Under his leadership, Bata collaborated with top designers to rebrand its image among youth.
9. Thierry Delaporte – CEO & MD, Wipro
Total Compensation: ₹82.4 crore (highest-paid CEO in the Indian IT sector in 2022)
- Being a French national heading an Indian company, his pay drew attention.
- Majority of his package included restricted stock units and bonuses.
- Led structural transformation initiatives at Wipro.
Key Takeaway: Wipro’s performance under his leadership saw big changes in service lines and delivery models.
10. Amit Syngle – CEO & MD, Asian Paints
Total Compensation: ₹21.1 crore
- Focused on digital growth, automation, and customer personalization.
- Instrumental in maintaining market leadership despite rising input costs.
- Compensation reflects operational excellence and shareholder value creation.
Bonus Bit: Asian Paints under Syngle launched new home décor products, diversifying from paints alone.
Bonus Mentions: Other Well-Paid Business Leaders
Kalanithi Maran – Sun Group
Though not a CEO in the traditional sense, his dividends exceed ₹600 crore/year, thanks to his ownership in Sun TV and SpiceJet.
Natarajan Chandrasekaran – Chairman, Tata Sons
He receives a consolidated compensation of over ₹65 crore across group companies.
Vijay Shekhar Sharma – Founder, Paytm
Though his base salary is moderate, his stock options and equity holdings make his net worth cross ₹10,000 crore.
How Indian CEO Salaries Compare to Global CEOs
- Indian CEOs earn significantly less than top US CEOs (e.g., Elon Musk, Tim Cook, Sundar Pichai), but their compensation-to-employee ratio is still very high.
- Indian regulations put a cap on executive salaries for certain companies, unlike in the West.
- Startups often offer ESOP-heavy packages, making future payouts massive based on valuation increases.
Public Reactions and Controversies
Not everyone’s thrilled with these salaries. Some common concerns:
- Pay Disparity: The difference between top executive pay and average employee salary is a hot topic.
- Performance Linkage: Critics argue that pay hikes don’t always reflect actual company performance.
- Public Sector CEOs: Compared to private CEOs, public sector heads earn far less despite managing equally large operations.
Polls and surveys often show mixed reactions—some admire the reward for hard work, others see it as excessive.
Future Trends in CEO Compensation in India
Here’s what we’re seeing for the years ahead:
- More stock-based rewards: Especially in tech and startups.
- ESG-Linked Pay: Salaries might increasingly depend on environmental, social, and governance metrics.
- Global talent, global pay: With cross-border leadership roles, compensation is becoming more competitive.
Prediction: As Indian companies grow globally, expect CEO pay to rise—but so will transparency and scrutiny.
Conclusion
CEO salaries in India are more than just eye-popping numbers. They reflect leadership performance, market confidence, and strategic direction. From Mukesh Ambani’s capped salary to Thierry Delaporte’s stock-heavy package, the top earners show a blend of financial prudence and reward-based success.
You might wonder—are they really worth it? Well, in the world of business, big responsibilities often come with big price tags.
FAQs
Who is the highest-paid CEO in India?
In FY23, Thierry Delaporte (Wipro) had one of the highest total compensation packages at ₹82.4 crore.
Why is Mukesh Ambani’s salary lower than others?
He voluntarily capped it at ₹15 crore and earns most of his wealth through dividends and shares.
What is included in a CEO’s salary in India?
Base pay, bonuses, stock options (ESOPs), retirement benefits, and perks like housing, car, etc.
How are CEO salaries regulated in India?
SEBI and the Companies Act 2013 require public companies to disclose executive pay. Some caps apply, especially in PSU and promoter-led firms.
Do Indian startup CEOs earn more?
They may earn less in cash but gain wealth through stock options—potentially becoming billionaires if their startup succeeds.