Larsen & Toubro chairman SN Subrahmanyan’s total compensation was Rs.51 crore in 2023-24, 534.57 times the median salary of L&T employees
Larsen & Toubro chairman SN Subrahmanyan’s total compensation was ₹51 crore in 2023-24, 534.57 times the median salary of L&T employees
The median salary for employees at L&T in FY24 was ₹9.55 lakh, whereas Subrahmanyan received a total compensation of Rs.51 crore.
Larsen & Toubro chairman SN Subrahmanyan earned a total compensation of ₹51 crore for the fiscal year 2023-24. As reported by The New Indian Express, this amount is 534.57 times greater than the median salary of L&T employees.
His compensation for the 2023-24 period comprised a base salary of ₹3.6 crore, ₹1.67 crore in allowances, and ₹35.28 crore in commission. Additionally, he was awarded retirement benefits amounting to ₹10.5 crore, resulting in a total package of ₹51 crore.
Subrahmanyan’s salary experienced a notable rise of 43.11% from the previous year, prompting inquiries regarding the company’s compensation framework and workplace environment.
Subrahmanyan is already facing significant criticism for his remarks advocating that employees should put in 90-hour work weeks.
Dear Sir,
— Dr Poornima 🇮🇳 (@PoornimaNimo) January 9, 2025
Chairman and MD L&T,
Mr Subrahmanyan,
After one or two years of marriage, nobody stares at their wife or spouse. But yes, 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,… pic.twitter.com/pZXUxZabHL
“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. What do you do sitting at home? How long can you stare at your wife? How long can the wife stare at husband? 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 had said recently.
Many social media users expressed their discontent with the chairman of L&T, pointing out that his earnings far exceed those of the average employee. This financial advantage, they argued, alleviates him from typical household duties, allowing him to dedicate more time to his professional responsibilities.
L&T salaries:
— Money Theory (@money_theory) January 9, 2025
2014:
Median salary of employee: ₹5L
S. N. Subrahmanyan salary: ₹13.26Cr
2024:
Median salary of employee: ₹9.77L
S. N. Subrahmanyan salary: ₹51.05Cr
CAGR:
Employee: 6.93%
Subrahmanyan: 14.43%
Now you know why he's a fan of a 90-hour workweek.
“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 one X user.
His comments sparked widespread anger on the internet, drawing criticism from celebrities such as Deepika Padukone and billionaires like Harsh Goenka.
“At L&T, nation-building is at the core of our mandate. The Chairman’s remarks reflect this larger ambition, emphasizing that extraordinary outcomes require extraordinary effort,” said a L&T Spokesperson responding to the uproar.
