CEO pay in India rose only slightly last year, marking the slowest growth since COVID-19. Deloitte’s India Executive Performance and Rewards Survey 2026 survey shows the median pay for professional (non-promoter) CEOs at Rs 10.5 crore, up just 5 per cent from the previous year. A key reason is weaker stock award values, which make up about a third of CEO pay. Over 350 organisations participated in the survey, which excluded public-sector companies.
Other top executives (CXOs) saw pay hikes between four and 10 per cent. Chief financial officers (CFOs) had the sharpest jump, now earning a median Rs 4.5 crore. This reflects high turnover in finance roles, the push for capital efficiency, and their growing accountability to shareholders. Many CFOs also carry board-level responsibilities. The chief digital officer (CDO) role is also becoming a formal CXO position, highlighting the rising importance of digital leadership.
Boards are cautious, linking pay more to internal performance metrics than stock prices, given market volatility and geopolitical risks. Deloitte notes that remuneration committees are showing maturity, avoiding knee-jerk reactions and adjusting strategies based on unfolding domestic and global events.
Companies are also moving away from one-size-fits-all stock plans. Larger firms, especially those in the Nifty50, are adopting complex multi-year performance share plans. Smaller firms continue to rely on traditional employee stock options (ESOPs). Multi-year stock grants are increasingly used for CXOs, while selective one-time retention awards are offered to key talent to maximize return on investment.
The survey highlights that performance reviews for CXOs remain robust, blending financial and strategic metrics with board discretion. This ensures compensation aligns with long-term business goals while maintaining accountability.
Executive benefits showed no major changes last year.
Clearly, while CEO pay growth has slowed sharply, CFOs are seeing the biggest gains, and boards are rethinking stock-based rewards in a volatile market.