NITES prez highlights stark disparity in salary hikes
24-Aug-2024 02:30 PM 6554
Bengaluru, Aug 24 (Reporter) National Information Technology Employees Senate (NITES) President and Advocate Harmanpreet Singh Saluja on Saturday raised concerns over the significant disparity in salary hikes between CEOs of major multinational corporations (MNCs) and entry-level employees. In a viral LinkedIn post, Saluja pointed out that while the salaries of CEOs have skyrocketed by as much as 7,000% over the past 25 years, freshers have seen a meager increase of just 33%. Citing specific examples, Saluja highlighted the dramatic pay increase enjoyed by top executives. Infosys CEO's salary surged from Rs 91 lakh in 2009 to Rs 66 crore in 2022, marking a 7,152.75% increase. The Cognizant CEO's salary rose from Rs 6 crore in 2009 to Rs 186 crore in 2024, a 3,000% rise. Wipro's CEO salary increased from Rs 2 crore in 2009 to Rs 50 crore in 2024, a 2,400% jump, and TCS's CEO salary went from ₹3 crore in 2009 to ₹29 crore in 2024, an 866.66% increase. In stark contrast, the average salary for freshers in these companies has only risen from ₹3 lakh in 2009 to ₹4 lakh in 2024, representing a mere 33.33% increase. "The widening gap between the top and bottom of the corporate ladder is alarming," the NITES President said. "Freshers are still earning below Rs 4 lakh per annum, while CEO salaries have soared by over 1,000% in the last 15 years. This imbalance is particularly concerning when compared to other countries, where freshers are compensated far more equitably." Saluja's post has sparked a wave of reactions on social media, with employees voicing their frustration over the widening income inequality. Many have expressed that despite their contributions to the company's success, they feel underpaid and undervalued. The issue has added to the growing debate over pay equity in India's IT sector, with calls for more balanced compensation practices that reflect the efforts and contributions of all employees, not just those at the top...////...
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