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L&T chairman SN Subrahmanyan paid ₹51 crore as salary in FY24, while median salary of employees was…
Larsen & Toubro chairman SN Subrahmanyan took home a total salary of ₹51 crore in 2023-24, which is 534.57 times the median salary of the employees of L&T.
Larsen & Toubro chairman SN Subrahmanyan took home a total salary of ₹51 crore in 2023-24. According to The New Indian Express, Subrahmanyan’s salary is 534.57 times the median salary of the employees of L&T.
His remuneration for 2023-24 included a base salary of ₹3.6 crore, ₹1.67 crore as prerequisites and ₹35.28 crore as commission. He also received retirement benefits of ₹10.5 crore, bringing the total to ₹51 crore.
L&T chairman under fire
Subrahmanyan is currently under massive backlash for his comments suggesting that employees should work 90 hours a week.
“I regret I am not able to make you work on Sundays. If I can make you work on Sundays, I will be more happy, because I work on Sundays,” Subrahmanyan was heard telling employees an undated video that has emerged on Reddit.
“What do you do sitting at home? How long can you stare at your wife? How long can the wife stare at husband?” he continued.
The remarks came during a recent employee interaction when SN Subrahmanyan was asked why L&T employees are still expected to work on Saturdays, instead of the standard five-day work week followed at most other companies.
Subrahmanyan gave the example of the Chinese, who work 90 hours a week. “So that’s the answer for you. If you have got to be on top of the world.. You have to work 90 hours a week. Get going, guys. Come on,” he said.
(Also read: ‘How long can you stare at your wife?’: L&T chairman says he wants employees to work on Sunday too)
His remarks caused massive outrage online, with celebrities like Deepika Padukone and billionaires like Harsh Goenka criticising him.
Besides the more prominent voices, thousands of social media users also criticised the chairman of L&T, noting that he earned much more than an average employee and therefore did not have to worry about household responsibilities, leaving him free to spend time at work.
“Those hardworking people who work for your company don't have 7 to 8 servants to do the pending jobs piling up at home like washing clothes, cleaning cars, taking their kids for a movie, or clearing their doubts, or just simply cleaning out a cupboard or getting a haircut,” wrote an X user who goes by the name Dr Poornima. “Let your young employees enjoy family life. Give them an option to work on Sundays or enjoy a holiday. Family life and leisure time is as important as work life and money.”
Employee vs chairman salary
The median remuneration of L&T employees during FY24 was ₹9.55 lakh, while Subrahmanyan took home ₹51 crore, as per The New Indian Express report.
The chairman’s salary rose by 43.11% in FY24, as compared to the previous year.
L&T responded to the outrage generated by the chairman's remarks in a statement to HT.com.
“At L&T, nation-building is at the core of our mandate. For over eight decades, we have been shaping India's infrastructure, industries, and technological capabilities. We believe this is India’s decade, a time demanding collective dedication and effort to drive progress and realize our shared vision of becoming a developed nation. The Chairman’s remarks reflect this larger ambition, emphasizing that extraordinary outcomes require extraordinary effort. At L&T, we remain committed to fostering a culture where passion, purpose, and performance drive us forward,” said an L&T spokesperson.
Google Trends
Following Subrahmanyan's statements going viral, the term "L&T chairman" trended on Google in India, with over 20,000 searches on Friday, as people Googled to know more about the top executive.
