The top management in the banking and financial services institute sector of India who mostly constitute of women bring home the bacon and a fat salary package too that go into crores of rupees for most of them.
SBI, one of the world’s 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to “attract top talent, especially a lateral entry”.
The salaries of top five bankers in the country have been listed below:
Chanda Kochhar, ICICI:
The Managing Director and Chief Executive Officer of ICICI bank, Chanda Kochar took home a gross salary of Rs 7.29 crore.
Her basic salary was Rs 2.66 crore in FY17.
ICICI bank like most other institutions also provides a performance bonus to its employees and Kochar received Rs 2.2 crore additional incentive. Besides this Kochar received Rs 2.43 crore in allowances and perquisites.
Shikha Sharma, Axis Bank:
MD & CEO of Axis bank – Shikha Sharma had a basic salary of Rs 2.7 crore and Rs 1.35 crore as variable pay. The PTI report said that with perks like house rent allowance (HRA) Sharma also got an additional incentive of Rs 90 lakh.
Rana Kapoor, Yes Bank:
Private sector bank founded by Rana Kapoor who is also the MD & CEO of Yes Bank drew Rs 6.8 crore in the last fiscal year.
Aditya Puri, HDFC Bank:
MD HDFC bank, Aditya Puri had a salary package of Rs 10 crore in FY17 and exercised stock options of Rs 57 crore during the same period.
Arundhati Bhattacharya, SBI:
National lender and public sector bank was in the limelight for not providing a bigger salary package to its company’s top management, which Raghuram Rajan, former RBI governor said would make things difficult to hire in state-owned banks.
Chairperson of State Bank of India – Arundhati Bhattacharya was regarded as taking home ‘pittance’ when compared to the remuneration of bankers in other private banks.
Bhattacharya drew Rs 28.96 lakh in FY17.