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CFO pay reaches ₹2.3 crore; sharp jump observed post ₹5,000 crore turnover mark
Mumbai, July 29, 2025: A new study by executive search firm Resource Bridge has revealed that the average compensation for CEOs in India’s listed companies touched ₹7.2 crore, growing at an annual rate of 9 percent over the last decade. CFOs, by comparison, drew an average of ₹2.3 crore, with compensation levels rising 1.7 times over the same period. The CEO Compensation Report 2025 and CFO Compensation Report 2025 are the outcome of a three-month analysis of annual reports from nearly 1,000 listed companies, coupled with open-source financial data in the public domain.
The study indicates that CEO compensation has doubled in the last 10 years, while CFO pay has registered a significant, though relatively moderate, growth. Interestingly, CEOs in the manufacturing sector continue to command some of the highest pay packages, while CFOs in service-led industries have emerged as top earners among their peers. A notable regional disparity also comes through in the data as CEOs and CFOs in North India command the highest compensation across the country, while those based in the East consistently earn the least. The trend holds across sectors and company sizes.
Ownership structure also plays a decisive role in executive compensation. Multinational corporations, according to the Report, continue to outpace Indian-owned firms in terms of pay at the top levels. Additionally, companies that cross critical turnover thresholds of ₹5,000 crore, ₹50,000 crore and ₹1 lakh crore show a sharp upward inflection in executive pay.
The Report introduces a proprietary compensation calculator that allows promoters, boards and CHROs to input a range of variables such as turnover, sector, ownership, region and financial performance and generate a realistic benchmark for CEO and CFO salaries. This feature makes the report relevant for listed companies, and for unlisted firms wanting to stay competitive and aligned with market standards.
Spanning over 20 industry sectors and backed by data from FY15 to FY24, the Report positions itself as one of the most comprehensive compensation studies for top leadership roles in the country. It offers deep insight into how pay package correlates with financial metrics such as market capitalization, topline and PAT, and how it varies based on geography, domain expertise and ownership.
Founded by K. Ramadhurai and Saroja Ramadhurai, Resource Bridge is a Mumbai-based executive search firm focused exclusively on CEO and CFO appointments. With a 20-year legacy, the firm is known for its research-intensive approach and strategic counsel to boards and promoters in navigating leadership transitions and compensation structuring.
