Cognizant CEO Ravi Kumar Singisetti is highest paid Indian in tech services

Ravi Kumar S, CEO, Cognizant received $22.5 million as compensation for the 2023 financial year. Kumar’s 2023 SEC compensation was substantially higher than his target direct compensation due to the inclusion of the one-time awards that he received upon becoming the CEO of the company in January 2023.

This is in the backdrop of the company reporting a 0.3% decline in constant currency revenue, amounting to $19.4 billion.

The disparity between CEO pay and employee compensation is striking, with the CEO pay ratio compared to employees based in India standing at 1647:1, and the worldwide median employee’s annual total compensation ratio being 556:1. The median annual employee compensation in India is $13,735, while the worldwide median annual compensation is $40,660. This widening wage gap, along with the recent announcement of Cognizant deferring increments by four months, has not been well-received by the firm’s employees.

Kumar’s predecessor, Brian Humphries, received a total SEC compensation of approximately $4.2 million in 2023, which consisted of his base salary through the effective date of his termination on March 15 last year.

Jatin Dalal, CFO’s target direct compensation of $5.2 million comprised a base salary of $750,000, ACI target of $750,000, PSUs of $1.8 million, and RSUs of $1.8 million. Dalal’s 2023 SEC compensation was lower than his target direct compensation primarily because he received only a pro rata portion of his annual base salary based on his employment commencing in December 2023.

CT Bureau