TCS will hike pay of top Management

The country's top IT firm, TCS, has enhanced total pay packages of its top management personnel and board members by over Rs 1 crore in the process giving a better hike to its incoming CEO than his predecessor. The Tata group entity paid a total remuneration of Rs 12.80 crore to its key management personnel and board members during 2008-09, up from Rs 11.08 crore in the previous fiscal. In terms of total package, CEO S Ramadorai was the highest paid executive with a total remuneration of Rs 4.1 crore in the fiscal, according to TCS' annual report.

Ramadorai's pay package grew by about 22 percent from Rs 3.37 crore in 2007-08, but it was lower than a hike of 36 percent for Chief Operating Officer N Chandrasekaran. Chandrasekaran, who would replace Ramadorai as TCS CEO later this year, saw his remuneration rise from Rs 1.41 crore to Rs 1.92 crore. Executive Director Phiroz Vandrevala got the highest pay hike of 41 percent among the company's board members as his remuneration rose from Rs one crore to Rs 1.41 crore. The hike in the remuneration for both Chandrasekaran and Vandrevala exceeded also the increase in the company's total employee cost of about 25 percent.