You would expect the Chief Executive Officer of a company to be the highest paid. However in a recent filing, Infosys said that two senior executives who report to CEO Vishal Sikka were paid higher.
Chief Operating Officer UB Pravin Rao, who assumed the post in June last year, earned nearly a million dollars with $970,646 (Rs 5.82 crore), which includes base salary of $109,583, bonus and incentives worth $616,509 and annual commission of $244,554, according to a filing with the SEC.
Second in line was CFO Rajiv Bansal, who was paid $748,247 (Rs 4.5 crore) by the Bangalore-based software major. His pay includes base salary of $124,567, bonus and incentives worth $450,980 and commissions to the tune of $172,700.
In comparison, Vishal Sikka was paid $716,539 for the financial year and did not receive a bonus or commission. The reason is that while he was appointed company director last June by founder and chairman Narayan Murthy, he started as CEO only in August. Both Rao and Bansal worked for two more months than Sikka this year. An Infosys spokesperson told HuffPost that the company will not comment on compensation.
Last year Infosys had said that Sikka's would earn a base salary of $900,000, variable pay of $4.18 million, and be eligible for an annual stock option worth $2 million.