Salaries of startup founders in India often sparks curiosity and leads to debates. The latest numbers from a report reveals an intriguing trend in FY24. It reveals that founders of 28 Indian new-age startups collectively earned Rs 283.5 crore in the current year. However, it is also learned that the average salary of founders dropped significantly by 26.9% to Rs 5.55 crore from Rs 7.6 crore in FY23.
FirstCry founder Supam Maheshwari once was the highest salary taker and he took home Rs 200.7 crore in FY23. Sadly, his salary dropped to about half the figure of 2023 to Rs 103.8 crore in FY24 even though the earning of his company was Rs 6,480 crore in operating income and reported a loss of Rs 321.5 crore.
Zerodha founders Nithin and Nikhil Kamath earned Rs 33.8 crore each in FY24 and it was down from Rs 48 crore the previous year. Their brokerage firm delivered stellar results equipped with Rs 9,372.1 crore in operating income and Rs 5,496.3 crore in profit. It is a story of balancing success with sustainability where founders take home less even as the company prospers.
Capillary Technologies founder Aneesh Reddy bucked the trend and his salary jumped 1,480% to Rs 13.3 crore. Such a leap seems justified if his company is witnessing growth. However, it is questioned whether founder salaries be more aligned with the profitability or its potential of a company.
Founders like Vijay Shekhar Sharma of Paytm and Varun Alagh of Mamaearth witnessed modest to significant salary increases. However, the profits of their companies also indicate that such rewards might be a recognition of navigating tough markets successfully.
