Infosys is paying in crores to more employees abroad than in India. Here are the figures
Jun 15, 2017, 11:33 IST
Infosys is paying more attractive salaries to its employees in overseas locations than in India. The company has hired and will be hiring highly-paid talent abroad, which could hit its costs.
This means, the number of employees earning salaries in crores is higher than in India.
As per a report by Economic Times, Infosys is paying over Rs 1 crore to more than 1,800 employees in its overseas locations.
In FY17, out of 151, 956, Infosys paid salaries of over Rs 1 crore to only 50 of its India-based employees.
The report stated out of 48,400 overseas employees, 1,800 are already crorepatis in rupee terms.
The number of crorepatis is likely to go up abroad as Infosys plans to hire 10,000 people in the US - a mix of freshers and experienced people.
"The firms are trying to address this to some degree by hiring out of college and these wages will be lower and more in line with the $70,000 for first year workers. But the wages will quickly climb to the market average of $125,000-$150,000 (Rs 80-96 lakh) as these employees gain experience," Peter Bendor-Samuel, CEO of IT advisory firm Everest Research, told ET.
"Infosys' hiring overseas in FY17 was similar to FY16, and the average salaries in both years have been consistent. Any potential impact arising out of our recently announced US recruitment strategy has already been factored into our margin guidance," Infosys informed ET.
ET reported Infosys' head of digital Scott Sorokin, who joined from interactive agency Razorfish, is paid over Rs 7.3 crore. Abdul Razack, global head of Infosys Platforms, was paid Rs 5.26 crore. Sanjay Rajagopalan, head of design and research, is paid a little over Rs 5.2 crore. Navin Budhiraja, head - architecture & technology, earns over Rs 5.3 crore. Ritika Suri, global head of corporate development, has a total gross salary of over Rs 5.1 crore.
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This means, the number of employees earning salaries in crores is higher than in India.
As per a report by Economic Times, Infosys is paying over Rs 1 crore to more than 1,800 employees in its overseas locations.
In FY17, out of 151, 956, Infosys paid salaries of over Rs 1 crore to only 50 of its India-based employees.
The report stated out of 48,400 overseas employees, 1,800 are already crorepatis in rupee terms.
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"The firms are trying to address this to some degree by hiring out of college and these wages will be lower and more in line with the $70,000 for first year workers. But the wages will quickly climb to the market average of $125,000-$150,000 (Rs 80-96 lakh) as these employees gain experience," Peter Bendor-Samuel, CEO of IT advisory firm Everest Research, told ET.
"Infosys' hiring overseas in FY17 was similar to FY16, and the average salaries in both years have been consistent. Any potential impact arising out of our recently announced US recruitment strategy has already been factored into our margin guidance," Infosys informed ET.
ET reported Infosys' head of digital Scott Sorokin, who joined from interactive agency Razorfish, is paid over Rs 7.3 crore. Abdul Razack, global head of Infosys Platforms, was paid Rs 5.26 crore. Sanjay Rajagopalan, head of design and research, is paid a little over Rs 5.2 crore. Navin Budhiraja, head - architecture & technology, earns over Rs 5.3 crore. Ritika Suri, global head of corporate development, has a total gross salary of over Rs 5.1 crore.