Ever wondered how does it feel to earn more than the owner of the company you work for? Obviously, we also don’t know how it feels but it is a reality for an employee working in Mahindra Group.
A recent report has revealed that Pawan Goenka, Managing Director of Mahindra & Mahindra is way ahead of Anand Mahindra in terms of making money. The remuneration paid to Pawan exceeded Anand’s earnings from the financial year 2017-18 results.
Anand Mahindra got Rs 8.03 crore as salary during 2017-18 with an increase of 4.69 percent from the previous year, whereas Pawan Goenka took Rs 8.70 crore as salary during FY 18, according to the company’s latest annual report. Also, the median remuneration of employees was 100.38 percent, while it was 152.63 percent for Goenka.
“The remuneration of the Executive Chairman and the Managing Director is decided based on the individual performance, inflation, prevailing industry trends and benchmarks,” a company representative said in a recent interview.
Pawan has been the Managing Director of Mahindra & Mahindra since November 12, 2016. Previously, he worked as the President of M&M automotive sector.
The CFO and CIO of Mahindra Group- VS Parthasarathy received Rs 4.14 crore as remuneration, up 13.55 percent from the previous year.