Salaries for 4.24 lakh TCS employees up by 7.2 percent

Last Updated: Fri, May 17, 2019 14:58 hrs
Team TCS

Mumbai: Salaries for as many 4.24 lakh TCS employees is up by 7.2 percent. This, according to the software major's latest annual report for the year ending 2019.

Average annual increase for Indian employees at the Mumbai-based company during the fiscal was six per cent. "However, during the course of the year, the total increase is approximately 7.2 per cent, after accounting for promotions and other event based compensation revisions," read the annual report.

TCS has a total of 424,285 employees on its rolls. Employees outside India received a wage increase in range of 2 to 5 per cent.

The company in its annual report said, "The increase in remuneration is in line with the market trends in the respective countries."

Meanwhile, managerial staff working with Indian software major Tata Consultancy Services saw salaries grow by 14.66% from the previous year.

Wage-increments among top management were reported higher than managerial staff.

CEO Rajesh Gopinathan's salary increased by 28%. Gopinathan took home a pay package of Rs 16 crores. Last year, his compensation stood at Rs 12.49 crores. His current compensation includes Rs 1.15 crore in salary, Rs 1.26 crore in perquisites, Rs 13 crores in commission and over Rs 60 lakh in other allowances .

TCS COO N Ganapathy Subramaniam also saw his earnings swell. His compensation increased by 24.9% to Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.

Among crorepati employees, TCS' CFO Ramakrishnan V was reported as having a package of Rs 4.13 crore in FY19.

In FY19, TCS saw its annual revenue cross $20 billions. The company also set record to achieve a market capitalisation of $100 billion. The company's revenue has been reported at Rs 146,463 crore, a growth of 19% over the prior year in Rupee terms, and 11.4% in constant currency terms.

The board on Thursday announced a dividend of Rs 18 per equity share of Rs 1 each. The announcement was disclosed in a regulatory filing on Thursday.