Bankers take home up to Rs 10 crore per year; salaries of top five bankers in the country

Bankers salaries in India go up to Rs 10 crore packages with incentives and perks. Zeebiz lists out top five banks and the salary drawn by its top management in the last fiscal.

Union Finance Minister Arun Jaitley with Chanda Kochhar, managing director and chief executive officer of ICICI Bank at the inauguration of 100 Digital Villages. Image Source: IANS

Key highlights

Salaries of top management in private sector banks are higher than public sector.

Bankers gross salary packages go up to Rs 10 crore.

The highest earning banker was Aditya Puri of HDFC bank last fiscal.

The difference between gross and net in hand salaries is always sought after by any employee as gross would be inclusive of perks and performance bonuses of a one-time payment.

The top management in the banking and financial services institute sector of India who mostly constitute of women bring home the bacon and a fat salary package too that go into crores of rupees for most of them.

While private banks offered its employees perks and incentives over and above its salaries, public sector banks like SBI defer the payment over a multi-year period.

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“Remuneration comprises various components, including basic salary, allowances and perquisite, PF, superannuation allowances, gratuity and performance bonus and payment of performance bonus is deferred over a multi-year period,” a PTI report said on Sunday.

The salaries of top five bankers in the country have been listed below:

Chanda Kochhar, ICICI:

The Managing Director and Chief Executive Officer of ICICI bank, Chanda Kochar took home a gross salary of Rs 7.29 crore.

Her basic salary was Rs 2.66 crore in FY17.

ICICI bank like most other institutions also provides a performance bonus to its employees and Kochar received Rs 2.2 crore additional incentive. Besides this Kochar received Rs 2.43 crore in allowances and perquisites.

Shikha Sharma, Axis Bank:

MD & CEO of Axis bank – Shikha Sharma had a basic salary of Rs 2.7 crore and Rs 1.35 crore as variable pay. The PTI report said that with perks like house rent allowance (HRA) Sharma also got an additional incentive of Rs 90 lakh.

Rana Kapoor, Yes Bank:

Private sector bank founded by Rana Kapoor who is also the MD & CEO of Yes Bank drew Rs 6.8 crore in the last fiscal year.

Aditya Puri, HDFC Bank:

MD HDFC bank, Aditya Puri had a salary package of Rs 10 crore in FY17 and exercised stock options of Rs 57 crore during the same period.

Arundhati Bhattacharya, SBI:

National lender and public sector bank was in the limelight for not providing a bigger salary package to its company’s top management, which Raghuram Rajan, former RBI governor said would make things difficult to hire in state-owned banks.

Chairperson of State Bank of India – Arundhati Bhattacharya was regarded as taking home ‘pittance’ when compared to the remuneration of bankers in other private banks.
Bhattacharya drew Rs 28.96 lakh in FY17.

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