Senior executives and CEOs in India are seeing an almost 9.1% rise in average salaries this year, highlighting the value they are bringing to the table and the impact on their organizations.
The average salary of a CEO is now INR 8.4 crore, almost a 21% hike in the last four years, including the turbulent pandemic times.
While CEOs and CXOs are set to get a 9.1% rise in salary, for C-suite executives, long-term incentives (LTI) have grown from 26% to 40%.
While many are questioning whether this is discrimination between employees and CEOs, many believe that the study, which provides solid evidence that CEO contributions are essential to the success of organizations in driving growth and profitability, are valid.
The study analyzed data from over 519 companies from more than 25 different industries, gauging senior executive value across a diverse range of businesses.
Given the volatile environment, more businesses are looking towards embracing executive pay programmes to help generate long-term business results, according to the firm conducting the study.
Among the top 30 firms listed in the Bombay Stock Exchange, the long term incentives for CEOs is 176% of their fixed pay, whereas it is 103% in case of other C-level executives such as chief operating officer, chief financial officer, sales leader and chief human resources officer, the report adds.