189% bonus to the top hierarchy by Cognizant

Cognizant, the IT service provider firm rewards the top level with 189 percent bonus. The company which is expected to overtake its rival Wipro in their quarter four results has made an announcement to reward their top five executives with hefty annual cash incentive bonuses which is nearly 90 percent above the bonus given in 2010. The outsourcing giant, Cognizant has also increased the base salaries of these five executives for calendar year 2011.

The bonus was expected in line of expectations since Cognizant announced the 40 percent rise in revenue at $4.59 billion in 2010. The company employs three-fourth of its employees in India. Around the same period the company's supposedly biggest rivals Infosys, TCS and Wipro reported 17-25 percent growth. Cognizant made its presence realized in 2010 by beating two giants in terms of adding revenue $1.28 billion while Infosys added $1.11 billion and Wipro managed to add $716 million according to Edelweiss. TCS added $1.54 billion ahead of Cognizant.

For 2010, the company registered a profit of $733.5 million, or $2.37 per diluted share, compared to $535 million, or $1.78 per diluted share, for 2009. Revenue for 2010 increased to $4.59 billion, up 40.1% from $3.28 billion in 2009. For complete details visit this link.