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CEOs' pay continues to swell: Deloitte survey
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CEO compensations have continued to increase, according to the latest edition of Deloitte’s Executive Remuneration Survey
Hyderabad: CEO compensations have continued to increase, according to the latest edition of Deloitte's Executive Remuneration Survey. However, the high post-pandemic growth rate seen in FY22 has moderated to 6.25 percent growth in FY23.
The size of a company continues to be a large determinant of the CEO/CXO pay. For example, the average CEO pay in the smallest reported revenue segment (Rs 1,000 crore) was 31 percent of that seen in the largest revenue segment (Rs 20,000 crore). The compensation levels for Sales Heads (average: 2.9 crore) surpassed Business Unit Heads (average: 2.82 crore) as more Sales Heads have a pan-India responsibility across businesses. COOs (average – Rs 4.8 crore) and CFOs (average – Rs 4.2 crore) continue to be amongst the top-earning CXO roles. The average CXO compensation stood at Rs 3.2 crore.
Aditya Nanavaty, Director, Deloitte India, said: "Indian executive talent continues to be highly sought after, including outside India. Rise in executive pay in India also correlates with relatively faster economic growth in India."
