The HCLTech CEO C. Vijay Kumar become the highest-paid CEO of India among other IT Software companies. His substantial remuneration increased rapidly for the fiscal year 2024. The annual report released on July 22, reveals Vijay Kumar’s salary for the year 2024. It jumped to around Rs84.16 crore, a 190.75 percent year-on-year increase. 

Professional Journey of CEO C. Vijay Kumar

C Vijay Kumar is the CEO and the Managing Director of HCLTech— a global technology company. He has been working with the company since 1994. He has worked in several positions before his appointment for the position of CEO in 2016 and its Managing Director in July 2021. CEO Kumar was also included in the list of Top 10 disruptive CEOs by industry analyst group, HfS. 

In 2020, he was also enlisted among the Best CEO of the year in the IT/ITES Industry by Business Today. Currently, he is the member of the World Economic Form’s IT Governor’s community, a Board Member of US India Business Council, a member of WSJ’s CEP Council and a UN Women HeForShe Companion.  

C. Vijay Kumar’s Salary Skyrockets

As per the annual report 2024 released, Kumar earned a base salary of around USD 1.96 million (i.e. Rs 16.39 crore), a performance lined salary of USD 1.14 million (Rs 9.53 crore), around USD 2.36 million (LTI) cash component. His remuneration was 707.46 times the median salary of employees at the company. 

In a letter to the stakeholders, Vijay Kumar unveiled HCLTech’s overall revenues grew year-on-year. He mentioned that there has been a 13.7% increase in revenues in constant currency, with the business registering growth of 15.8%. 

“Our revenues crossed the Rs 100,000 crores milestone and the employee base has reached 225,000 marks (including an intake of 25,000+ entry level employees). While our services portfolio includes Digital, Engineering, Cloud AI and Software, all punched in equal weight,” CEO Kumar added. 

Furthermore, the CEO outlined the evolution of the company. He said that they are consistent to believe in the virtual first hybrid workplace model, with flexibility for employees to use office spaces and remote working when needed.  

“Our approach has been balanced and measured, led by active dialogues with people and clients to develop a right-mix for the right-time- and right- place model,” he stated.  

Notably, in 2021, he was also provided with a remuneration of Rs 123.13 crore (USD 16.52) at the company. While a third-fourth of his income included long-term benefits. That means, the annual base salary Vijay Kumar took in $2 million. Additionally, he got another $2 million as variable pay. Further the CEO got $0.02 as perquisites and other benefits for the ended fiscal year.  

The HCLTech is a $13.4 billion global technology-based company and CEO Vijay Kumar has been leading around 219,000 professionals. These are working across 60 companies around the globe. He has played a pivotal role in building new products and platform for the company. Which is a billion-dollar business unit today.