Infosys had 74 crorepatis in 2020 fiscal, no promotion for leaders

BENGALURU: InfosysNSE -0.88 % had 74 employees in its crorepati club in 2019-20, up from 64 in the year before. Employees at the designation of vice-presidents and senior vice-presidents make up for the bulk of the crorepatis.

A significant jump in the compensation of these employees in the 2020 fiscal compared to the previous one was because of the increase in perquisite value of stock incentives previously granted and exercised during the year, Infosys’s annual report showed. Remuneration includes fixed pay, variable pay, retiral benefits and stock options exercised during the period. Infosys’s overall wages at leadership levels remained constant or lower and there were no promotions during 2019-20 at the leadership level. A majority of the key management personnel (KMP) did not go through the increment cycle in the last fiscal.