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Moumita Bakshi Chatterjee

New Delhi, Aug. 11 BPO major WNS’ directors and executive officers have taken home an aggregate compensation of $3.3 million during the fiscal ended March 2008, with Group Chief Executive Officer (CEO), Mr Neeraj Bhargava, alone receiving a gross compensation of close to $0.9 million.

The aggregate compensation paid to executive directors and executive officers for FY08 is, however, lower in comparison to fiscal 2007 ($4.6 million), primarily as many of the senior level roles earlier located in the UK, moved to India, according to a senior WNS official.

As per the annual filing to the US market regulator Securities and Exchange Commission (SEC), Mr Bhargava — who was the most highly compensated executive in fiscal 2008 — received a salary of $0.48 million, a bonus of $0.32 million and other benefits amounting to $68,431.

The Chairman of WNS, Mr Ramesh N. Shah, enjoyed a gross compensation package of $0.63 million for the fiscal ended March 2008. In addition, the top level executives are also entitled to stock compensation.

The aggregate compensation (including contingent or deferred payment) paid to WNS’ directors and executive officers for services rendered in fiscal 2008 stood at $3.3 million, which comprised $2 million paid towards salary, $1 million paid towards bonus and $0.3 million paid towards social security, medical and other benefits.

“This included compensation paid to Mr Alan Stephen Dunning for the first half of fiscal 2008 when he served as the Managing Director of WNS UK; and to Mr J.J. Selvadurai for the second half of fiscal 2008 as the Managing Director of WNS UK, which became an executive officer level position and was renamed ‘Managing Director of European Operations’ on October 1, 2007,” the company said in the latest filing.

During fiscal 2007, the total compensation paid to the company’s most highly compensated executive during fiscal 2007 was $8,26,566 (which was comprised of $4,67,076 paid towards salary, $3,25,000 paid towards bonus payments and $34,490 paid towards social security, medical and other benefits).

Earlier this year, another BPO firm EXL Service Holdings in a SEC filing had reported that its CEO, Mr Vikram Talwar’s compensation for 2007 was pegged at $1.55 million, up from $1.25 million in 2006.

However, the amount also includes stock awards, options, non-equity incentives plan compensation and other compensation, besides salary and bonus. Mr Talwar is now the Executive Chairman of the EXL Board.

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