Infosys had 74 millionaires in 2020 fiscal year, no promotion for leaders

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Bengaluru: Infosys Its crorepati club had 74 employees in 2019-20, up from 64 a year earlier. Employees number in crores on the designation of Vice-Presidents and Senior Vice Presidents.
The Infosys annual report reported that there was a significant jump in compensation for these employees in the 2020 fiscal year compared to the previous fiscal year as the stock incentive had increased and exercised in value per year earlier. Remuneration uses fixed pay, variable pay, retirement benefits and stock options. The total wages of Infosys at the leadership level remained constant or low and there was no promotion at the leadership level during 2019-20. Majority of the key management personnel (KMP) did not go through the increment cycle in the last financial year.
The Middle Remuneration (MRE) of employees increased by 10% to Rs 6.8 lakh in 2019-20 from Rs 6.2 lakh earlier. After promotions and other event-based compensation modifications, the average annual increase in employees’ salaries was 7.3% in India.
The ratio of remuneration of MRE between Infosys CEO Salil Parekh and its COO UB Praveen Rao was 502 and 155 respectively.
Talking about the current environment, Infosys Chairman Nandan Nilekani said in his letter to shareholders, “… the real test will come in the next months when we need to understand and respond to the slowly evolving dynamics of the new normal Have to find ways of The technique will prove to be helpful here. There is, he said, an exercise in internally factoring scale in the design of building systems and operating model solutions at the enterprise scale. ”

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