Bajaj Auto posted its annual report for the year ended March on Friday.

What Happened: As per the report, the company’s CEO Rajiv Bajaj was paid a total salary of ₹53.75 crore. His commission income was around ₹32.60 crore and the rest were salary and prerequisites. This is around a 13% increase from the ₹47.9 crore salary he took home in the year ended March 2023. His salary was 588 times greater than the median salary of the company.

Brother Sanjiv Bajaj was paid a total salary of ₹24.90 lakh. Chairman Niraj Bajaj was paid ₹45.65 lakh in salary for the year. Out of this, 11 lakh was sitting fees and the rest was commissions.

See Also: Nestle’s Suresh Narayanan Sees Salary Jump 16% In FY24

Rajiv Bajaj graduated in Mechanical Engineering from the University of Pune in 1988 and completed his master’s in Manufacturing Systems Engineering from the University of Warwick in 1991.

Since then, he has worked at Bajaj Auto in various capacities: Manufacturing & Supply Chain (1990-1995), R&D and Engineering (1995-2000), and Marketing and Sales (2000-2005). He has been a board member of Bajaj Auto since March 2002 and has served as its managing director since April 2005.

Read Next: Voltas CEO Made ₹7.21 Cr In FY24, Chairman Noel Tata Was Paid…