Cognizant Salary: Amid a downturn in Indias IT sector as IT majors including Tata Groups TCS Azim Premjis Wipro and more recently Narayana Murthy-led Infosys reported disastrous earnings this quarter several Indian IT firms have given higher compensation to their top executives in FY2024 compared to FY23. According to a Times of India report Cognizant CEO Ravi Kumar received a nearly 14 hike in realised compensation to $8.2 million (over Rs 70.17 crore) in financial year 2024 from $7.2 million in the last fiscal the company revealed in its 2025 proxy filing with the US Securities and Exchange Commission (SEC). Huge pay hikes for top execs As per an earlier reported by The Economic Times several Indian IT majors gave their top executives higher pay in 2024 compared to 2023 despite the the countrys IT industry facing an economic crunch and reduced tech spending. According to the report Salil Parekh the CEO of Infosys witnessed pay hike by over a sixth reaching Rs 66 crore in the last fiscal as per the company FY24 annual report. LTIMindtree CEO and MD Debashis Chatterjee saw a 10% hike in his total annual pay which rose to Rs 19.34 crore in FY24 while Amit Chadha CEO and MD of L&T Technology Services (a subsidiary of the L&T Group) saw his compensation more than double to Rs 15.4 crore in FY24 from Rs 7.3 crore in FY23 the report said. Infosys Vs Cognizant Notably Narayana Murthy-led Infosys and US-based Cognizant have been embroiled in a legal battle since August last year with Cognizant alleging that Infosys had stolen trade secrets related to TriZetto its healthcare arm. Infosys has filed counter-allegations accusing Cognizant Technology Solutions of leveraging its monopoly power to stifle competition and maintain dominance in the healthcare software market through its platform Cognizant TriZetto Software Group. The Indian IT giant has also accused Cognizant CEO Ravi Kumar S of deliberately delaying the launch of Infosys Helix during his tenure at Infosys and poaching key executives after joining Cognizant in January 2023.