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Former Infosys CFO Mohandas Pai on Monday called out the growing wage disparity in corporate sector in India, highlighting that fresher salaries have barely increased in five years while top executives have witnessed raises as high as "50-60%". "How is it justified?" he questioned.
"A very sad state of affairs in IT cos in India. Boards should stop being mercenary, rewarding CEO’s, too 1%, themselves more and more and give a much better deal to freshers and bottom 50%. This is not the culture in which IT service cos grew earlier," said Pai, who now serves as Chairman of Aarin Capital.
He said that IT CEO's salary has gone up by 50-60% in the last five years but the bottom 20% have seen their wages risen by 20-25% only. "Board compensation has increased by 20%, 30%, even 40%. But for the bottom 20%, wages have only risen by 20-25%," said Pai.


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