NEW DELHI: The average CEO pay at India's top listed companies has risen to 10 crore a year, but still remains less than one-tenth of over Rs 100 crore median remuneration paid to their peers in the U.S.

The top executives of the country's biggest bluechip companies, forming part of the stock market's 30-share benchmark index sensex, were paid an average remuneration of 9.9 crore in the latest fiscal 2013-14 — up from about 8.5 crore in the previous year.

In comparison, the average CEO pay for the companies forming part of the US stock market's 30-share benchmark index DJIA (Dow Jones Industrial Average) stood at $17.5 million (105 crore) during the last year.

The corresponding figures for the UK and Germany stood at about 60 crore and 50 crore, respectively, in 2013 — which are also significantly higher than the Indian average.

The average CEO pay for the sensex companies would come down even further if the figures for the six PSU companies are taken into account, as their annual packages are considerably lower as they follow government regulations for salaries.

The average figure of 10.06 crore for the fiscal year 2013-14 has been derived through an analysis of the latest pay disclosures so far made by the private sector sensex companies in their latest annual reports.

However, the figures does not include the value of stocks owned by these persons, as also the other accrued benefits such as dividend payouts that may arise from share ownerships.

There are 24 private sector companies in the 30-share index, but six of them are yet to make public their 2013-14 annual reports. These six companies are Larsen and Toubro, Cipla, Bharti Airtel, Maruti, Sun Pharma and Hindalco.
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