Infosys Chief Financial Officer is being relocated to the US and he will have a revised pay scale. As reported by ET, Ranganath's fixed compensation has been revised to $0.69 million along with a variable compensation of up to $0.56 million. His fixed pay has increased to Rs 4.48 crore and could take home Rs 3.64 crore more as variable pay.
Infosys, in the filing, has revealed that –due to certain business reasons MD Ranganath the CFO will be operating from the US. As per Infosys annual report, Ranganath was paid 2.84 crore in fixed pay and 1.80 crore in bonus and incentives in FY17.
This move comes after Infosys has announced that it will add 10,000 in the US and set up four technology and innovation hubs there over the next two years. The first set of innovation and technology hubs will be launched in Indiana in August this year, and the same is expected to employ nearly 500 American workers by the next year itself, and 2,000 workers by 2021. Infosys will set up their second technology and innovation hub in North Carolina. The other two locations haven’t been decided yet.
Previously reported in People Matters, other Indian tech companies are also gearing up to elevate their plans for local hiring in America. Wipro announced in a press release that over 50% of its workforce in the USA is local and that over 1,600 American employees have been hired in the past six months. Cognizant, another major IT company which hired 4,000 people in the US in 2016 is now planning to step up its pace of hiring.