Hindustan Unilever has been reporting sluggish growth because of weak
consumer demand in India, but the country's biggest fast-moving consumer
goods manufacturer is among the most generous paymasters, according to
its latest annual report.
More employees in Hindustan Unilever or HUL earn over Rs 1 crore (over Rs 10 million) in salaries as compared to Infosys, the country's second biggest outsourcer.
According to HUL's 2014-15 annual report, nearly 170 employees earned more than Rs 1 crore in gross annual salary in 2014-15. Infosys had 113 such executives.
The crorepati (millionaire) list at HUL is headed by 54-year-old Sanjiv Mehta, who is the CEO and MD of HUL. Mr Mehta, whose remuneration includes perquisites and stock options, earned a gross salary of over Rs 14 crore.
Those with gross salaries of over Rs 5 crore include -- H Bakshi, executive director (home and personal care), who earned Rs 9 crore; R Sridhar, ED& CFO (Rs 7.5 crore); PB Balaji, ED & CFO (Rs 6.3 crore); Samir Singh, ED & VP (Rs 6 crore); BP Biddappa, executive director (HR) (Rs 5.85 crore), and Pradeep Banerjee, executive director (supply chain), earned Rs 5.07 crore.
Like IT companies, many young employees in HUL earn huge salaries. Nearly 50 per cent employees who earned more than Rs 1 crore in 2014-15 are in their thirties, according to HUL's annual report.
HUL had 6,289 permanent employees on the rolls as on March 31, 2015. Excluding the managerial personnel, HUL gave an average hike of 3.95 per cent to its employees.
Huge salaries at HUL indicate the willingness of traditional companies to up their game to retain key talent at a time when there's a huge buzz of start-ups among Indian employees, analysts say.
HUL, a subsidiary of Anglo-Dutch consumer group Unilever Plc., sells everyday consumer goods like Lux soap, Lipton tea and Dove shampoos through thousands of mom-and-pop shops as well as big retailers across the country. Sales at the company are widely seen as an indicator of consumer demand in the country.
More employees in Hindustan Unilever or HUL earn over Rs 1 crore (over Rs 10 million) in salaries as compared to Infosys, the country's second biggest outsourcer.
According to HUL's 2014-15 annual report, nearly 170 employees earned more than Rs 1 crore in gross annual salary in 2014-15. Infosys had 113 such executives.
The crorepati (millionaire) list at HUL is headed by 54-year-old Sanjiv Mehta, who is the CEO and MD of HUL. Mr Mehta, whose remuneration includes perquisites and stock options, earned a gross salary of over Rs 14 crore.
Those with gross salaries of over Rs 5 crore include -- H Bakshi, executive director (home and personal care), who earned Rs 9 crore; R Sridhar, ED& CFO (Rs 7.5 crore); PB Balaji, ED & CFO (Rs 6.3 crore); Samir Singh, ED & VP (Rs 6 crore); BP Biddappa, executive director (HR) (Rs 5.85 crore), and Pradeep Banerjee, executive director (supply chain), earned Rs 5.07 crore.
Like IT companies, many young employees in HUL earn huge salaries. Nearly 50 per cent employees who earned more than Rs 1 crore in 2014-15 are in their thirties, according to HUL's annual report.
HUL had 6,289 permanent employees on the rolls as on March 31, 2015. Excluding the managerial personnel, HUL gave an average hike of 3.95 per cent to its employees.
Huge salaries at HUL indicate the willingness of traditional companies to up their game to retain key talent at a time when there's a huge buzz of start-ups among Indian employees, analysts say.
HUL, a subsidiary of Anglo-Dutch consumer group Unilever Plc., sells everyday consumer goods like Lux soap, Lipton tea and Dove shampoos through thousands of mom-and-pop shops as well as big retailers across the country. Sales at the company are widely seen as an indicator of consumer demand in the country.
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