From global family insurance to minimum tenure, India Inc. is going out of the way to keep its honchos happy. But not all perks are in black and white.
GUENTER BUTSCHEK, the CEO of Tata Motors, draws an annual basic salary of 2.5 crore. But his perks and allowances total about 13 crore. With incentives and retirement benefits, his remuneration adds up to a little over Ì€ 26 crore. That’s not all. In case the company initiates termination of his service before the end of his term (for reasons other than the violation of the Tata Code of Conduct), he will be entitled to severance pay for 12 months or the balance term of the agreement, whichever is less. HUL Managing Director Sanjiv Mehta’s annual salary is 6.96 crore but he received profits of 5.6 crore in lieu of salary in 2017/18, besides other perks worth over 1 crore. He also has stock options valued at Ì€ 5.43 crore. In all, the amount comes to over 19 crore.
Clearly, when you are in the driver’s seat of marquee names in India Inc., pampering G is inevitable. And the bigger the company, the higher the benefits — which were traditionally defined as perquisites but now encompass everything the company does to keep the person at the helm happy and healthy.
“CEOs need to be taken care of. Corporate boards think CEOs must be completely immersed in work and not worry about exigencies or future requirements. Perquisites are a way to plug the gaps in creating the best support system for CEOs,” says R. Suresh, the founder of boutique search and consulting firm INSIST Executive Search. “Perquisites are a way to make the top job lucrative and hold back CEOs by giving benefits in kind,” says Pankaj Dutt, Managing Partner of Alexander Hughes’ India and Malaysia operations.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
