Bajaj Finance chief takes home over ₹100cr in FY25
What's the story
Rajeev Jain, who was recently elevated from Managing Director to Executive Vice Chairman of Bajaj Finance, has drawn a whopping ₹102 crore in FY25. This is the second consecutive year that his remuneration has crossed the ₹100-crore mark. The company's annual report reveals that nearly ₹80 crore of this amount came from share-based compensation and Employee Stock Ownership Plans (ESOPs).
Unusual compensation
Jain's remuneration unusual for non-tech sector
Jain's high remuneration is unusual in the non-tech sector, where such pay packages are usually linked to large stock-based incentives. The only other person to have drawn similar figures before him was CP Gurnani, former CEO of Tech Mahindra. He earned ₹151 crore and ₹146 crore in FY17 and FY18, respectively, according to CNBC-TV18 data.
Dual positions
Position in Bajaj Housing Finance
Jain also holds the position of non-executive Vice Chairman at Bajaj Housing Finance Ltd (BHFL). Here, he earned ₹99 lakh in FY25 through sitting fees and profit-linked commission, just like other non-executive directors. The company's annual report states, "The performance pay/bonus of the MD is based on the performance of the Company and his contribution toward the same."
Financial growth
Bajaj Finance posted a stellar performance in FY25
Bajaj Finance posted a stellar performance in FY25, with its assets under management (AUM) growing by 26% to ₹4.2 lakh crore. The company's net profit also grew by over 16% to ₹16,779 crore while delivering a healthy Return on Average Assets (RoA) of 4.57% for the year. Jain's successor, Anup Saha, took over as Managing Director on April 1, 2025, and earned ₹27.32 crore in FY25, with nearly half coming from stock-linked pay.
Market position
Highest-paid executive from Nifty50 firms in FY25
Despite the leadership transition, Jain continues to be the highest-paid executive among Nifty50 firms that have published their FY25 reports so far. In FY24, he was joined by top executives of Hero MotoCorp and Wipro as the only ones from the Nifty50 to breach the ₹100-crore mark. Notably, no CEO crossed this milestone in FY23.