CEO salary at listed firms doubles to Rs 7.2 crore in a decade; CFO pay lags with 1.7x rise — Manufacturing, MNCs drive the hike: Report
The average salary for CEOs of listed companies in India reached Rs 7.2 crore, reflecting a compound annual growth rate (CAGR) of 9 per cent over the past decade, according to a new study by Resource Bridge, cited by ANI.
In comparison, CFOs earned an average of Rs 2.3 crore, with their pay increasing 1.7 times during the same period.
While CEO remuneration has doubled since FY15, CFO pay has shown more moderate but meaningful growth. "CEO's compensation more than doubled, from Rs 3.3 crore in FY15, to Rs 7.2 crore in FY24 — a 9 per cent CAGR growth over a 10-year period," the report claimed.
Sectoral trends reveal that CEOs in the manufacturing sector enjoy the highest compensation packages, whereas CFOs in service-oriented industries lead in terms of earnings.
A regional breakdown shows that executives based in northern India receive the highest compensation nationwide, while those in eastern India earn the least- regardless of sector or company size.
The study also points to the impact of corporate ownership on executive pay. Multinational companies operating in India tend to offer significantly higher compensation than Indian-owned firms at the senior leadership level.
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Companies with revenue above Rs 5,000 crore, Rs 50,000 crore, and Rs 1 lakh crore show notable increases in executive salaries.
The report adds that multinational companies in India offer around 10–11 per cent higher compensation than Indian firms of comparable scale.
The CEO and CFO Compensation Reports 2025 are based on a detailed analysis of the annual reports of approximately 1,000 listed companies, along with publicly available financial data. Covering more than 20 industries and a ten-year span from FY15 to FY24, the study is among the most comprehensive examinations of senior executive pay in the country.
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