A total of 51 founders of 28 Indian new-age startup companies in the country took home Rs 283.5 crore as an annual salary in FY24. According to the Inc42 report, “The average salary of startup founders in India declined by 26.9 per cent on year-on-year (YoY) basis to Rs 5.55 crore in FY 24 from Rs 7.6 crore in FY23.”
These new-age startups are from across all sectors. Among all these startups, Supam Maheshwari, founder of e-commerce startup FirstCry, took home the highest salary of Rs 103.8 crore in FY24. However, this is about 50 per cent less than the salary of Rs 200.7 crore taken in FY23.
FirstCry’s operating income in FY24 was Rs 6,480 crore and the company suffered a loss of Rs 321.5 crore during this period. Zerodha founders Nikhil and Nithin Kamath were second on this list in FY24. Each of the two brothers took an annual salary of Rs 33.8 crore in the last financial year. In FY23, each took a salary of Rs 48 crore.
Zerodha’s operating income in FY24 was Rs 9,372.1 crore and the company made a profit of Rs 5,496.3 crore during this period. Capillary Technologies founder Aneesh Reddy was third on this list. He took a salary of Rs 13.3 crore in FY24. This is 1,480 per cent more than the salary of Rs 84 lakh in FY23.
Hotel software company RateGain founder Bhanu Chopra received a salary of Rs 5.8 crore in FY24 from Rs 6.1 crore in FY23. RateGain’s operating income grew 69 per cent to Rs 957 crore in FY24 and the company posted a profit of Rs 146.3 crore during this period.
Paytm, MD and CEO Vijay Shekhar Sharma were fifth on the list. He took an annual salary of Rs 4.4 crore in FY24, up 10 per cent from the annual salary of Rs 4 crore taken in FY23. Mamaearth CEO Varun Alagh’s annual salary in FY24 was Rs 3.97 crore, up 166.9 per cent from the annual salary of Rs 1.49 crore in FY23.
At the same time, his wife and co-founder of the startup received a salary of Rs 1.79 crore in FY24, which is 80.8 per cent more than Rs 99 lakh in FY23. Mamaearth’s operating income in FY24 was Rs 1,919.9 crore and the company made a profit of Rs 110.5 crore during this period.
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