The last couple of years has been exciting times for the Indian tech industry. With the Start-Up wave sweeping across the country, more & more youngsters feel the need to join the bandwagon of entrepreneurship. This need, coupled with very positive investor sentiments along with Make in India campaign has quadrupled the amount of companies pooping up in India, which in turn has propelled innovation & putting India on the global map.Other than the above mentioned points, there is another huge reason why India’s tech confidence is boosting & that is the increasing number of Indian’s taking up executive positions in global Goliaths.
We take immense pride in naming a few of such Davids who managed to conquer some of these Goliaths:
Shantanu Narayen – Adobe Systems, Satya Nadella – Microsoft, Indra Nooyi – PepsiCo, Nikesh Arora – Softbank Corp, Ajay Banga – MasterCard, Punit Renjen – Deloitte, Ivan Mendez – Diageo, Rajeev Suri – Nokia Solutions, Rakesh Kapoor – Reckitt Benckiser and the most recent inclusion to the elite club Sundar Pichai – Google.
And every time any Indian takes up an executive position at a global firm, our media goes crazy with pride. Soon this pride drives them to create a one hour feature about the “life that was”, which is soon followed by a one hour primetime slot allotted for a personal interview that talks about the challenges & triumphs. Sooner than later, we realize the next big topic that we ponder about is the “PAY CHEQUES” these executives are receiving by taking up the position. And whether or not it’s true. So we decided to address Mr. Sundar Pichai’s speculated salary of $50 million a year.
We did a bit of research on publicly available information & realize the only place that a publicly-traded company will disclose the compensation it pays to its executives is in their Proxy Statement (Form DEF 14A), filed with the Securities and Exchange Commission. Among other things, it lists the compensation of the CEO, CFO and the three other most highly compensated executive officers for the current and past two fiscal years.Upon reviewing the Proxy Statement, it is astonishing to know in 2014, Mr. Pichai was not even amongst those five top exes. So we have to arrive at a conclusion by making a safe assumption based on the other 3 exes whose data was available until 2014.
Take a good look at the salary column in the table above. The highest base salary you’ll see is $1.2 million for Mr. Schmidt during 2012,13 & 14 and the most recent inclusion of over $100 million in stocks.Based on this data & owing to Mr. Pichai contribution to Google since 2004, on Google Chrome, Chrome OS, Google Drive, Gmail, Google Maps & Android. And coupled with his contribution in the new role by taking control of search, ads, maps, the Google Play Store, YouTube, and Android, It is safe to say that Mr Pichai should be making upwards of $50 million in annual stocks plus salary and Bonus.