It pays to work at Infosys and Wipro, especially if you are in the mid-to-senior management ranks.
Here's why: Infosys has created the largest pool of employees who earn over 1 crore in yearly salary, followed by rival Wipro Technologies.
113 employees at Infosys were in the Rs 1 crore level this year, compared with just 18 the year before. This is the sharpest rise among all IT companies, and come as Infosys is trying to regain its bellweather status under CEO Vishal Sikka who was appointed in May 2014.
Wipro had 70 employees in the crorepati segment, compared with 38 last year. The two companies filed salary information under the Companies Act which makes it mandatory for all listed firms to disclose names of India-based employees earning salaries of Rs 60 lakh or above. The pay includes bonuses and other payouts linked to meeting certain targets.
India's homegrown biggies have loosened their pay strings to make sure their best performers stay on with the companies at at time when e-commerce startups have got aggressive in hiring top-tier leadership talent. Companies like Flipkart, Ola, Quikr and Snapdeal, funded by global powerhouses such as Softbank and Tiger Global, are expected to hire about 500 people at Rs 1 crore or above salaries this year.
Such firms are also hiring from the Silicon Valley, reversing decades of brain drain when the best of Indian engineering talent went to the U.S. west coast. Now, they are coming back as e-commerce firms pay top salaries and offer opportunities for success in a market that's among the fastest growing in the world.