Nooyi salary 81 times that of Buffett’s
Warren Buffett, the world’s richest man, may have Lakshmi Mittal and Mukesh Ambani trailing him on the Forbes billionaire list, but Buffett has been left far behind by a bunch of Indians, in terms of annual pay packets.Updated: Apr 08, 2008 03:18 IST
Warren Buffett, the world’s richest man, may have Lakshmi Mittal and Mukesh Ambani trailing him on the Forbes billionaire list, but Buffett has been left far behind by a bunch of Indians, in terms of annual pay packets. Leading the desi pack is Indra Nooyi, chief executive officer of PepsiCo.
Nooyi earns over 81 times more than Buffett, found executive search firm Equilar for the New York Times. While the PepsiCo chief’s annual compensation in 2007 was $14.74 million, Buffett — who heads Berkshire Hathway, that is into life insurance and annuity sales, among others — took home only $0.18 million.
And that is just the beginning. Another India-origin CEO, and a Mumbai boy at that, Vikram Pandit — who heads global banking giant Citigroup — takes home a compensation that is about 17 times more than Buffett’s. In 2007, Pandit had an annual compensation of $3.16 million.
Rajiv L Gupta, who heads specialty chemicals maker Rohm & Haas, has an annual salary of $7.26 million, nearly 40 per cent higher than that of Buffett.
Steve Jobs, CEO of Apple, the makers of iPod, is at the bottom of the list with a base salary of one dollar.
Equilar analysed the compensation data in the corporate filings of 200 large public firms in the US with revenues more than $6.5 billion. Further, data on only those companies that had filed their proxies by March 28 were considered.
The total compensation figures represent the sum of base salary, discretionary and performance-based cash bonuses, option awards and stock awards, among others.