Wipro chairman Azim Premji takes a pay cut, but TK Kurien gets five-fold hike, Delhi

IT giant Wipro’s chairman and managing director Azim Premji saw his remuneration falling by nearly one-third to 1.9 crore last fiscal, but the group’s IT business CEO TK Kurien’s pay package grew over five times to 4.5 crore.

As CMD of Wipro Ltd, whose main area of business is information technology, but is also present in certain consumer goods businesses, Premji’s annual remuneration declined from 2.8 crore in the fiscal 2010-11 to 1.9 crore in the latest fiscal ended March 31, 2012. During the same period, the total remuneration rose from 80 lakh to 4.5 crore for Kurien, who assumed the role of Wipro’s IT business CEO in February 2011.

However, the salaries paid to Kurien’s predecessors – Suresh Vaswani and Girish S Paranjape, who were joint CEOs of Wipro’s IT business till January 2011 – were much higher. During 2010-11, Vaswani was paid 10.2 crore (up from 3.1 crore in the previous year), while Paranjape’s remuneration stood at 8.9 crore that year (up from 2 crore in 2009-10).

Along with Premji, Wipro’s chief financial officer Suresh Senapaty also saw his pay package take a dip in the fiscal 2011-12, shows the company’s latest annual report being sent to the shareholders ahead of their AGM later this month. Senapaty’s remuneration fell to 1.8 crore in 2011-12, from 4.3 crore in the previous fiscal.

The total remuneration paid to all the key management personnel of the company fell to 8.7 crore in 2011-12, from 27.5 crore in the previous year. However, Wipro’s total employee wage bill, including salaries, bonuses and other staff payments, rose to 15,400 crore from 12,700 crore.

Premji’s remuneration had fallen even more sharply in 2010-11, as his pay package had dipped by nearly two-third from 8.1 crore in the year 2009-10.

Azim Premji’s son Rishad Premji, currently the chief strategy officer of IT business, was paid 50 lakh in 2010-11 (up from 40 lakh in the previous year), but the annual report for 2011-12 does not mention his salary for the year.

As per the annual report, Rishad holds about 6.87 lakh Wipro shares (worth about 28 crore currently, while Azim Premji holds more than 9.3 crore shares (worth 3,700 crore) in his name. Azim Premji’s pay package in 2011-12 included 30 lakh as salary, 13.1 lakh in allowances, about 1.1 crore as commissions/incentives, nearly 16 lakh as other annual compensation and 26 lakh in deferred benefits.

Source: The Economic Times


IT firms head to Germany for Campus Hiring

To boost their image and get more business from Europe, Indian tech companies have started eyeing talent from Germany.

For the first time, Indian tech companies have started going to campuses in Germany to recruit local talent. Companies such as Wipro, Cognizant, L&T Infotech, Prion and multinationals such as Capgemini and SAP have hired 25 interns from Germany to work on offshore projects. TCS and MindTree are also planning to recruit junior level talent from Germany.

This is part of the ‘Vibe’ programme initiated by Prof Karl Kurbel from the Virtual Global University at the University of Frankfurt Oder and Mr Peter Schumacher, CEO of Value Leadership Group, an offshore advisory firm.

Companies that have signed for Vibe will have interns spend three months in India, followed by three months in Germany at the client site. This is the only initiative that is Europe-focussed and specifically on winning junior talent for the offshore IT services industry.

Although IT majors such as Infosys have hired interns from tech colleges in the US and the UK, this is the first time that the Indian IT sector is looking at Germany, thus making its talent pool more diverse.

‘Vibe’ aims to provide undergraduate and graduate students an opportunity to experience the global delivery model in action and build understanding of the inter-cultural issues of working in India and with Indian companies.


“Currently, freshers with global delivery experience cannot be found in the German market and this programme aims to close this gap,” Mr Schumacher told Business Line. There are plans to provide 50 German students paid internship opportunities at leading IT services companies in India on a yearly basis. Industry watchers say that the number of computer science graduates in Germany is increasing and the demand is growing at a fast clip.

Germany, at present, employs about six lakh software engineers and 58 per cent of German firms are concerned about talent shortages in IT, which is resulting in more off shoring to destinations such as India, according to Value Consulting. Also, according to German IT Association, unemployment in Germany in the IT industry is 3.1 per cent and tech companies are positioning themselves as job creators.

With a slowdown in IT spending in most of the large banks in US, Indian firms have already started looking at Europe, which at present contributes to 30 per cent of their revenues. Indian firms are losing out on outsourcing business due to lack of sufficient knowledge of local industries and are trying to address that problem, said Mr Schumacher.

According to a Nasscom report, Indian companies are earning less than $2.6 billion from this region as against the addressable market size of more than $53 billion.

Source: www.thehindubusinessline.com



The first thing I have learnt is that we must always begin with our strengths. There is an imaginary story of a rabbit. The rabbit was enrolled in a rabbit school. Like all rabbits, it could hop very well but could not swim. At the end of the year, the rabbit got high marks in hopping but failed in swimming. The parents were concerned. They said, ‘Forget about hopping. You are, anyway good at it. Concentrate on swimming.’ They sent the rabbit for tuitions in swimming. And guess what happened? The rabbit forgot how to hop! As for swimming, have you ever seen a rabbit swim? While it is important for us to know what we are not good at, we must also cherish what is good in us. That is because it is only our strengths that can give us the energy to correct our weaknesses.


The second lesson I have learnt is that a rupee earned is of far more value than five found. My friend was sharing with me, the story of his eight year-old niece. She would always complain about the breakfast. The cook tried everything possible, but the child remained unhappy. Finally, my friend took the child to a supermarket and brought one of those ready-to-cook cereal packets. The child had to cut the packet and pour water in the dish. The child found the food to be absolutely delicious? The difference was that she had cooked it! In my own life, I have found that nothing gives as much satisfaction as earning our own rewards. In fact, what is gifted or inherited follows the old rule of ‘come easy, go easy’. I guess we only know the value of what we have, if we have struggled to earn it.


The third lesson I have learnt is, in Cricket, no one bats a hundred every time. Life has many challenges. You win some and lose some. You must enjoy winning. But do not let it go to the head. The moment it does, you are already on your way to failure. And if you do encounter failure along the way, treat it as an equally natural phenomenon. Don’t beat yourself for it or anyone else for that matter! Accept it, look at your own share in the problem, learn from it and move on. The important thing is, when you lose, do not ‘lose the lesson’.


The fourth lesson I have learnt, is the importance of humility. Sometimes, when you get so much in life, you really start wondering, whether you deserve all of it. We have so much to be grateful for. Our parents, our teachers and our seniors, have done so much for us, that we can never repay them. Many people focus on the shortcomings, because obviously, no one can be perfect. But it is important to first acknowledge, what we have received. Nothing in life is permanent, but when a relationship ends, rather than becoming bitter, we must learn to savor the memory, of the good things, while they lasted.


The fifth lesson I learnt is, that we must always strive for excellence. One way of achieving excellence, is by looking at those better than ourselves. Keep learning what they do differently. But excellence cannot be imposed from the outside. We must also feel the need from within. It must involve not only our mind, but also our heart and soul. Excellence is not an act, but a habit. I remember the inspiring lines of a poem, which says that your reach must always exceed your grasp. That is heaven on earth. Ultimately, your only competition is yourself.


The sixth lesson I have learnt is, never give up in the face of adversity. It comes on you, suddenly without warning.. Always keep in mind, that it is only the test of fire, that makes fine steel. A friend of mine shared this incident with me. His eight-year old daughter was struggling away at a jigsaw puzzle. She kept at it for hours but could not succeed. Finally, it went beyond her bedtime. My friend told her, “Look, why don’t you just give up? I don’t think you will complete it tonight. Look at it another day.” The daughter looked with a strange look in her eyes, “But, dad, why should I give up? All the pieces are there! I have just got to put them together!” If we persevere long enough, we can put any problem into its perspective.


The seventh lesson I have learnt is, that while you must be open to change, do not compromise on your values. Mahatma Gandhiji often said, “You must open the windows of your mind, but you must not be swept off your feet by the breeze.” Values like honesty, integrity, consideration and humility have survived for generations. At the end of the day, it is values that define a person more than the achievements. Do not be tempted by short cuts. The short cut can make you lose your way and end up becoming the longest way to the destination.


And the final lesson I learnt is, that we must have faith in our own ideas even if everyone tells us that we are wrong. There was once a newspaper vendor who had a rude customer. Every morning, the Customer would walk by, refuse to return the greeting, grab the paper off the shelf and throw the money at the vendor. The vendor would pick up the money, smile politely and say, ‘Thank you, Sir.’ One day, the vendor’s assistant asked him, “Why are you always so polite with him when he is so rude to you? Why don’t you throw the newspaper at him when he comes back tomorrow?” The vendor smiled and replied, “He can’t help being rude and I can’t help being polite. Why should I let his rude behavior dictate my politeness? ”

source: internet