Larsen & Toubro (L&T) Chairman and Managing Director SN Subramanian has recently become the center of discussion on social media for his suggestion. He suggested working 90 hours a week, about which there is debate on various forums. Meanwhile, information related to his salary and his role in the company has also been revealed.
Salary of Rs 51 crore in 2023-24
The total salary of SN Subramanian in the financial year 2023-24 was Rs 51 crore, which is 43.11% more than last year. This hike has made him among India’s highest paid CEOs.
salary breakup
- Base Salary: Rs 3.6 crore
- Pre-Requisites: Rs 1.67 crore
- Commission: Rs 35.28 crore
- Retirement benefits: Rs 10.5 crore
This information came to light in a report by New Indian Express.
534 times more than the average employee’s salary
SN Subramanian’s salary is 534.57 times more than the average salary of the company’s employees. The average salary of L&T employees in the financial year 2023-24 was Rs 9.55 lakh.
Salary of CFO and non-executive chairman
- Chief Financial Officer (CFO):
R. Shankar Raman’s total salary was Rs 31.66 crore, which included commission of Rs 21.83 crore and retirement benefits of Rs 6.5 crore. His salary increased by 42.84%. - Non-Executive Chairman (Retd):
AM Naik, who leaves the post in September 2023, received Rs 1.69 crore as salary and Rs 1.5 crore as pension.
Status of employees in L&T
As of March 31, 2024, L&T had 59,018 permanent employees. These employees work in the construction, engineering and project management sectors of the company.
SN Subramanian’s career graph
- Born: 16 March 1960, Chennai
- Education:
- Graduation in Civil Engineering (Regional Engineering College, Kurukshetra)
- MBA (Symbiosis Institute of Business Management, Pune)
- Executive Management Program (London Business School)
- Beginning in L&T: Joined in 1984 as Project Planning Engineer.
- Progress: Joined the L&T board in 2011 and took over as Chairman and Managing Director in October 2023.
Suggestion and controversy of working 90 hours
SN Subramanian’s suggestion that working 90 hours a week will boost productivity has sparked debate on social media and in the professional world. Many described this as excessive and impractical, while some justified it in the context of the demands of serving in senior leadership.
