Infosys employees must be on Cloud 9 as many of them recently received the news that many top executives of the company are now in the $1-million (Rs 6-crore) compensation club.
According to media reports, the executive vice-presidents, who are now at the Rs 6-crore level, had salaries in the Rs 1.2-Rs 2 crore range previously. This means that the newly appointed CEO -- Sikka's entry in Infosys helped them to get three to five-fold hikes.
Sikka's entry in Infosys helped techies to get three to five-fold hikes
Times of India quoted Navnit Singh, MD of executive search firm Korn/Ferry India as saying, "If you look at salaries of some of the global companies, they are comparable to what Infosys has done."
Sikka, whose appointment as CEO and MD of Infosys was approved by shareholders, earlier had said he would continue and grow the culture and the processes at the company, which was set up in 1981.
"...the company is built on very deep rooted culture and deep rooted set of values, so my first order of business is to continue and grow that- the culture, the processes and the plan that has been put into place by the founders," Sikka told reporters.
"First of all- the feeling is of being very grateful and humbled; earlier today we celebrated the careers of Shibu (Shibula, outgoing CEO & MD) and Srinath (Srinath Batni, outgoing Board member)," Sikka, a former SAP executive, said.