mumbai professional ceos got a raise in 201920 even as average salaries of their promoter counterparts dropped due to the economic slowdown before the pandemic struck however promoter ceos on an average took home a 62 higher compensation than their professional counterpartsaccording to the milliondollar ceo club study by ema partners commissioned by toi the average salaries of professional ceos rose 65 to rs 13 crore in 201920 and that of their promoter counterparts declined by about 9 to rs 21 crore the study is based on a sample of bse 200 companies and it does not include stock options since the study takes into account compensation details in balance sheets of companies for 201920 it excludes the trends that may have shaped cxo including cfo compensation following the covid pandemic advt the number of cxos earning a million dollars rs 7 crore has inched up to 150 from 146 last year the club is led by the marans kalanithi maran and kavery kalanithi with a compensation of rs 875 crore which has remained unchanged see graphic of the total 81 are professional ceos and 69 are promoters overall professional compensation has increased by 15 while promoter compensation has risen by nearly 3ema partners india md k sudarshan said the trend over the last 12 months indicates that promoter ceos have indeed taken a larger hit on their compensation notwithstanding potential dividend earnings out of their businesses as shareholders on the other hand we have seen an increase in the overall compensation for professional ceos we believe this anomaly will see a gradual correction as more professionals step up and increase their compensation driven by business performancecompensation of promoters like sajjan jindal of jsw plunged by nearly 44 to rs 39 crore in 201920 the compensation of murali divi of divis laboratories has dropped by about 12 to rs 52 crore while that of h m bangur of shree cement has gone down by about 10 to rs 42 crore in 201920 however rajiv bajaj of bajaj auto saw an over 23 jump in his compensation to nearly rs 40 crore among professional ceos compensation of hindalco md satish pai rose 11 during the year to rs 32 crore hindustan unilever cmd sanjiv mehtas salary rose about 24 to over rs 16 crore the remuneration of rs 48 crore paid to rohit philip who resigned from the post of cfo at indigos parent interglobe aviation effective from september 15 2019 however includes the exit amount under his contract which is why philips compensation has more than trebled catapulting him to the top 10 this year advt kansai nerolac paints vc md h m bharuka said if india has to grow the number of milliondollar cxos has to increase considerably which i am sure will come as corporatisation goes up bharuka who is also part of the club said incentives are commensurate with the size scale complexities spread and responsibilities the scrutiny responsibilities and stress which a modernday cxo faces