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CEO compensation in India rose to ₹7.2 crore in FY24, shows study
According to the CEO Compensation Report 2025 and CFO Compensation Report 2025, CEOs in the manufacturing sector continue to receive some of the most lucrative salary packages. Meanwhile, CFOs in service-driven industries have emerged as the highest-paid among their peers.
The findings are based on an analysis of annual reports from nearly 1,000 publicly listed companies, alongside publicly available financial data. The dataset spans financial years 2014-2015 (FY15) to 2023-2024 (FY24) and covers more than 20 industry sectors.
The report showed that multinational corporations (MNCs) continue to offer higher executive salaries than Indian-owned firms. Ownership structure also plays a decisive role in executive compensation. Firms that cross major turnover thresholds -- ₹5,000 crore, ₹50,000 crore and ₹1 trillion -- show significant increases in CEO and CFO pay levels.
Executives based in North India command the highest salaries, while those in the East consistently receive the lowest compensation. This pattern holds across sectors and company sizes.
1 in 5 Nifty 50 CEOs earned ₹50 crore in FY24
The proportion of CEOs and managing directors at Nifty 50 firms earning more than ₹50 crore in FY24 has more than doubled since FY19. In FY24, 22 per cent of CEOs and MDs surpassed the ₹50 crore mark, compared to just 10 per cent five years earlier. Among the 10 promoter-CEOs, 30 per cent received compensation above ₹50 crore in FY24, up slightly from 27 per cent in FY19.
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