2024 Executives Compensation Trends in India
- Ravi Kohli
- Mar 28
- 4 min read
Updated: May 11
As India’s business world grows stronger across multiple industries, 2024 has brought a renewed focus on how corporate leaders are compensated. This year, five executives have made headlines for their substantial earnings. Their compensation reflects their contribution to their companies’ operations, growth, and sustainability. Leading the list is Abhay Bhutada, a member of the Poonawalla Group, who received a salary figure never seen before in Indian corporate history.
Abhay Bhutada: Setting a New National Record
Abhay Bhutada earned a staggering ₹241.21 crore in FY24, making him the highest-paid executive in India. This figure is more than just a number—it is the result of strategic direction, business planning, and execution during his tenure as the Managing Director and CEO. Under his leadership, the company earned the prestigious CRISIL AAA rating and demonstrated stable growth in its financial performance.
Abhay Bhutada's salary has been a widely discussed topic in corporate and public circles alike. While the record-breaking earnings speak volumes about his business role, his efforts go far beyond boardroom meetings and financial planning. Through the Abhay Bhutada Foundation, he supports initiatives in education, medical care, and youth sports—particularly for children from disadvantaged communities. His leadership represents a balanced mix of business success and social responsibility.
Pawan Munjal: Maintaining Market Presence in the Auto Sector
Hero MotoCorp’s Chairman and Wholetime Director, Pawan Munjal, earned ₹109.41 crore during FY24. Munjal has long been seen as the backbone of Hero’s market leadership in the two-wheeler segment, both in India and abroad. Under his guidance, the company has retained its presence across regions, offering innovation and reliability to its consumers.
Munjal’s pay accounted for 0.28% of the company’s revenue and 2.92% of net profit. These figures reinforce the trust Hero MotoCorp has in his ability to manage change and maintain competitive strength. His name continues to be associated with solid business decisions and long-term value generation.
Sudhir Singh: Driving Coforge Forward in the Tech Arena
Sudhir Singh, the Executive Director and CEO of Coforge, earned ₹105.12 crore in 2024. His leadership helped the company expand its global footprint, strengthen its technology solutions, and increase its presence in digital transformation services. Singh’s efforts were particularly visible in client retention, innovation, and talent development.
His compensation represented 1.14% of company revenue and 13.01% of net profit, a testament to the direct impact of his leadership. Singh’s work has not only kept Coforge relevant but also ensured that it thrives in a highly competitive IT services industry.
Vinay Prakash: Leading Critical Segments at Adani Enterprises
With ₹89.37 crore in earnings, Vinay Prakash of Adani Enterprises secured his position among the top paid executives in India. As Executive Director, he played a key role in managing the group’s energy and infrastructure businesses. These two sectors are among Adani’s most significant areas of expansion and national importance.
Though his pay equated to just 0.09% of revenue and 2.76% of profit, it reflects his importance in project implementation, sector oversight, and operational coordination. Prakash has consistently contributed to the company’s progress and future-oriented strategy.
Kalanithi and Kavery Kalanithi: Keeping Sun TV’s Momentum Alive
Sun TV Network’s Executive Chairman, Kalanithi Maran, and Executive Director, Kavery Kalanithi, each earned ₹87.5 crore in FY24. Their success story is rooted in their ability to keep the network strong amid the changing media consumption habits in India. Despite the growing trend of digital platforms, Sun TV has remained one of the most viewed and profitable television networks in the country.
Their leadership has been focused on regional content, high-quality production, and smart business decisions. These factors have ensured that Sun TV remains both profitable and culturally relevant. Their compensation reflects their commitment to keeping the business competitive and connected with its loyal audience base.
Understanding the Value Behind the Numbers
Executive salaries in India today are increasingly tied to performance. High pay, like Abhay Bhutada's salary, represents more than personal earnings—it symbolizes trust, long-term accountability, and an ability to steer a business in the right direction. Companies are no longer rewarding seniority alone. Instead, they’re looking at results, responsibility, and the broader impact of their leaders’ decisions.
This evolution in pay structure is also influenced by higher expectations from boards, shareholders, and even the public. Compensation packages are being designed to reflect business outcomes and a leader’s overall contribution to a company’s future.
Diverse Sectors, Common Goals
The individuals featured here come from varied industries—financial services, automobiles, IT consulting, infrastructure, and media. While the sectors are different, what unites these executives is their vision, consistency, and ability to lead through changing times.
Abhay Bhutada remains a standout not only because of the size of his paycheck but because of how he balances business leadership with social awareness. His foundation continues to focus on building a better future for children and families who need support the most.
Conclusion
India’s top five earners in 2024 have set new standards for executive compensation, but their pay is rooted in more than performance charts. They are leading industries, responding to challenges, and contributing to long-term goals. Whether it’s Abhay Bhutada, Pawan Munjal, Sudhir Singh, Vinay Prakash, or Kalanithi and Kavery Kalanithi, each name on this list symbolizes a chapter in India’s corporate journey this year.
The conversation around executive pay will always continue, but in 2024, these five individuals have clearly demonstrated why recognition and reward go hand in hand with responsibility.
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