Cognizant CEO Ravi Kumar Singisetti received 186 crore rupees as salary despite decline in revenue.

Cognizant CEO Salary: Bad days are going on in the IT sector since last year. Retrenchment is going on across the world including India. In the name of cost cutting, jobs of lakhs of employees have been snatched away and they have been sent to their homes. The business of companies is decreasing. Their revenue is decreasing. This year most of the IT companies are not even doing campus hiring. It is feared that the year 2024 is also not going to be very happy for the IT sector. But, the other side of the coin is that these same companies are paying hundreds of crores of rupees as salary to the top management of the companies. Cognizant CEO Ravi Kumar Singisetti has received a salary of approximately Rs 186 crore ($22.5 million) for the year 2023. That too when Cognizant's revenue has decreased. In India, CEOs are being paid approximately 1647 times the salary of employees. This figure has sparked a big debate regarding salaries in the country.

Cognizant's revenue declined

Cognizant's performance has not been anything special. The company's revenue has declined by 0.3 percent to $19.4 billion. Still, the company has given huge amount to its CEO Ravi Kumar Singsetti in the name of one time awards. It also includes performance stock units and cash sign-in bonus. Before him, Brian Humphries, who was the CEO of the company, was given $ 42 lakh in the year 2023 and CFO Jatin Dalal was given $ 52 lakh.

Salary in India is much less compared to the world

Due to this, the salary ratio between CEOs and employees in India has become approximately 1647:1. In the world this figure is 556:1. The poor financial performance of companies and the huge salaries of top management have now started rising in the eyes of stakeholders. The average salary of employees in the country is $13,735. This figure in the world is $40,660. At present, we are far behind the salaries of employees in the world. On the other hand, top management in India is being paid unbelievable amounts of money.

Increment of Cognizant employees was postponed

Recently, Cognizant had postponed the increment of employees by 4 months. Due to this there was already dissatisfaction among the employees. Now after hearing the CEO's package, he is sure to get a big shock. Now it will be interesting to see what the company does in the future regarding this dissatisfaction. Besides, all the stakeholders will also keep an eye on the upcoming policy of the company.

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