There has been a bumper jump in the salary of Mohit Joshi, Managing Director (MD) and CEO of the leading IT company Tech Mahindra during the financial year 2026. According to the latest annual report of the company, his total package in the last financial year reached ₹ 67.54 crore (about 54 lakh pounds). The surprising thing is that while on one hand there was a decline in the average salary of ordinary employees, on the other hand the package of a top executive was more than 1,085 times that of an ordinary employee of the company. His salary last year i.e. in the financial year 2025 was ₹ 52.1 crore, in comparison with which there has been a direct annual increase of 11.76% in his salary this year.
A major part of Mohit Joshi's huge income does not come only from fixed salary. A deeper look at the figures for the financial year 2026 reveals that his actual basic salary was 13.6 lakh pounds (about ₹ 17 crore). On top of this, the biggest contribution to his package was Employee Stock Ownership Plan (ESOPs), whose value is estimated at 29.3 lakh pounds i.e. approximately ₹ 36.65 crore. Apart from this, he was paid 11.1 lakh pounds (₹ 13.8 crore) as performance based bonus for his excellent work. At the beginning of the financial year, he held 4,68,130 shares of the company. During the year he acquired an additional 1,97,718 shares, of which he exercised 2,35,364 stock options to make profits. If only the ESOP portion is removed, his salary, calculated in British pounds, has increased by 20.39% annually.
This report of the corporate world also brings to the fore the economic gap which is continuously widening between the lower level workers and the top management. Mohit Joshi's package is 1,085.27 times more than the median salary level of half the employees working in Tech Mahindra. The thing to note here is that in the last financial year (FY26), there has been a huge decline of 4.89% in the median package of general employees. Median salary means that half of the company's employees are paid above this level, while the other half are working below this level. The company has recorded a figure of 1,19,337 permanent employees by the end of the year. In such a situation, the decline in the salaries of common employees and the huge increase in the salaries of top officials exposes a huge economic gap at the workplace.
If the earnings of Tech Mahindra's boss are compared with the heads of other major IT companies in India, a bigger picture of the industry becomes clear. With a package of ₹67.5 crore, Mohit Joshi figures prominently in the list of highest paid executives of the country. However, Infosys CEO Salil Parekh remained at the forefront of this race, who received a huge salary of ₹ 82.6 crore in FY 2026. Whereas Wipro's Srinivas Palliya received ₹49.6 crore. K., CEO of Tata Consultancy Services (TCS), the country's largest IT company. Kirtivasan's package was comparatively ₹28 crore, while LTM's Venu Lambu got ₹27.26 crore.
