Tech Mahindra’s CEO and MD Mohit Joshi earned a total compensation of ₹53.9 crore in fiscal year 2024‑25, a significant increase that grabbed headlines across the Indian IT sector
1. 🧮 Salary Breakdown
- ₹11.4 crore in base salary
- ₹30.8 crore via ESOPs (employee stock ownership plan)
- ₹11.7 crore in variable pay and performance bonuses
All figures are consolidated from Tech Mahindra’s FY25 annual report
2. 💰 Industry Benchmarking
- His compensation is roughly 840x the median employee salary at Tech Mahindra
- It’s double that of TCS CEO K. Krithivasan (₹26.5 crore), and slightly higher than Wipro’s Srinivas Pallia (₹53.6 crore), though lower than Infosys’ Salil Parekh (₹80.6 crore) and HCLTech’s C. Vijayakumar (₹84.2 crore)
3. ⚖️ Employee Pay Gap Highlighted
While Joshi’s compensation surged, the median employee salary dropped by 6.5% in FY25—spotlighting widening pay disparity within the company
4. 🚀 What’s Fueling His Pay Package?
- Joshi, who officially became MD & CEO in December 2023, received a high base and variable pay, along with a joining bonus of ~$0.85 million
- Significant ESOP allocation incentivizes long‑term performance and retention
5. 🧭 Broader Implications
- Governance conversation: High CEO pay amplifies debates on executive compensation and pay equity in Indian firms.
- Investor perspective: Boards defend packages as crucial to executive retention and steering major turnaround strategies—Tech Mahindra is investing heavily in AI and digital transformation under Joshi’s leadership moneycontrol
🔎 Summary
- Total CEO Pay: ₹53.9 crore in FY25
- Median Salary Multiplier: 840x
- Peer Comparison: Higher than TCS & Wipro, below HCLTech & Infosys
- Employee Pay Trend: Median salary fell 6.5%
- Strategic Rationale: Attracting top talent for turnaround and growth
