India’s Executive Salaries Reach Unprecedented Heights

India’s corporate sector has seen a surge in high-paying executive salaries, with over 200 professionals now earning more than a million dollars annually. This reflects the country’s economic growth and the rising importance of leadership in major firms. Recent data shows that 213 executives from India’s top 200 publicly listed companies crossed this salary mark last year, representing a 19% increase. Their combined earnings amounted to ₹5,144 crore, an increase of 20.86% from the previous year.

Growth in High-Salary Executives

Professional executives now dominate the highest salary brackets, making up nearly two-thirds of the list. The number of such professionals grew by 18.5%, while promoter executives saw a 20% increase. The inclusion of exercised stock options further elevated the total pay packages of many executives.

A primary driver of this rise in salaries is the increasing demand for experienced leaders. Companies are offering competitive packages to attract and retain top talent. As India advances toward a $10 trillion economy, high-level corporate positions are expected to become even more lucrative.

Abhay Bhutada

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Abhay Bhutada: India’s Top-Earning Executive

Among the highest-paid executives, Abhay Bhutada topped the list with a total annual compensation of ₹241.21 crore. The former managing director of Poonawalla Fincorp received ₹236.21 crore through share-based payments, making him the highest-paid corporate leader in the country. His earnings far surpass those of other top executives. Beyond his corporate achievements, Bhutada is also the founder and chairman of the Abhay Bhutada Foundation, an initiative dedicated to supporting education and skill development programs for underprivileged students in India.

Following Bhutada, Thierry Delaporte, former chief executive and managing director of Wipro, earned ₹167.6 crore. His compensation included salary, allowances, and stock-based incentives. Among promoter executives, Pawan Munjal, executive chairman of Hero MotoCorp, led with an annual compensation of ₹109.41 crore.

Reasons Behind the Rising Salaries

Industry experts highlight multiple factors behind the sharp increase in executive pay. One of the primary reasons is India’s fat-growing economy. The demand for strong leadership continues to outpace the supply of qualified professionals, prompting businesses to offer attractive salaries to retain experienced executives.

Stock-based incentives have also played a key role in boosting compensation. Many large corporations provide stock options as part of their salary structures, allowing executives to benefit as the company’s value rises. These stock options often result in large payouts, significantly increasing total earnings.

Additionally, Indian companies are aligning their pay structures with international benchmarks. As businesses expand globally, they must offer competitive compensation to retain top-tier leaders. Some companies have also begun hiring foreign executives, with nine expatriates featuring in this year’s highest-paid executive list.

Also Read: How I See Executive Pay Through a Professional’s Lens 

Gender Disparity in Executive Salaries

Despite the growing number of well-compensated professionals, gender diversity in executive roles remains a concern. Only nine women appeared on the list of 213 high-earning executives, accounting for just 4.2% of the total. None of them ranked among the top 20 highest-paid professionals.

Industry analysts note that while many companies have taken steps to improve gender diversity, leadership roles remain predominantly occupied by men. The underrepresentation of women at senior levels highlights the ongoing challenges of achieving gender parity in corporate leadership.

Also Read: The Visionary Scholarships of MVPM and Abhay Bhutada Foundation

The Future of Executive Compensation

As India’s economy continues to expand, executive salaries are expected to keep rising. Companies will likely rely more on stock-based rewards and international salary benchmarks to ensure competitive pay structures. The growing demand for leadership talent will continue to push compensation levels higher in the coming years.

At the same time, companies must address gender disparities in executive roles. Businesses that promote greater inclusivity in leadership positions could help create a more balanced representation among top earners.

With more professionals reaching the million-dollar salary milestone each year, India’s corporate sector is undergoing rapid transformation. As companies scale and expand their operations, competition for top leadership roles is set to become even more intense.


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