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One-third of Eds of Nifty 100 firm took a slash in remuneration in FY21

During this pandemic time, it was anticipated that around one-third of Executive Directorsof Nifty 100 companies had taken a cut in remuneration in 2020-21. The data compiled by primeinfobase.com on the compensation of executive directorsof Nifty 100 companiesshows that around 59 such people took a slash in their pay during the last fiscal year compared to 2019-20. The data available was for about 200 Executive directors of these firms. Some of them were either appointed in the middle of the year or ceased in the middle of the year. On the same note, around 17 of the 65 Nifty 100 companies for which data on median salaries got collected, there was a reduction in wages in the year 2020-21 compared to 2019-20. On average, most of Nifty 100 companies and top management saw an improvement in their remuneration last fiscal year despite being a pandemic hit a year, which brought the economy towards stability at least for the first four months of the year.

Source: thehindubusinessline.com

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