Sanjiv Bajaj, the chairman and managing director of Indian financial services giant Bajaj Finserv, saw a 36% jump in his annual salary in the year ended March 2024. His salary was around 23 crore for the year ended March 2023.
What Happened: Sanjiv Bajaj earned ₹31.67 crores in the year, which was 105 times more than the median pay of his firm's employees. The median remuneration of the employees of the firm declined by 16.28% in the same period. As of March 31, 2024, the company had 125 permanent employees. He holds more than 41 lakh shares in the company.
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As the Managing Director and CEO of Bajaj Holdings & Investment, Bajaj took home ₹27.1 crore, according to data from Trendlyne. He was paid a total of ₹4.3 crore as the chairman of Bajaj Finance. It represented a 437% increase from the ₹80 lakh salary he received in the year ended March 2023.
Sanjiv Bajaj took over as the managing director of Bajaj Finserv in 2007. He earned a Bachelor’s degree in Mechanical Engineering from the University of Pune, followed by a Master’s degree in Manufacturing Systems Engineering from the University of Warwick, UK and a Master’s in Business Administration from Harvard Business School.
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