New Year began with new appraisals, following a monumental raise in the monthly salary of Bank Alfalah’s CEO, Atif Bajwa. It’s has been recently reported that Mr. Bajwa’s monthly salary has been increased from PKR 6.475 million to PKR 7.113, marking a raise of 0.663 million from the last drawn salary.
It is worth mentioning that this is not his total take-home compensation. Many sources indicates that his managerial remuneration which is added in his salary has also been increased from PKR 77.7 million per annum to PKR 85.4 million per annum. This managerial remuneration doesn’t include the annual bonus, post-employment allowances, house rent, and maintenance. Alongside these amenities, Mr. Bajwa has also been provided with a company maintained car and household appliances.
Moreover, Mr. Bajwa earned approximately PKR 97.11 million in 2015, compared to PKR 92.49 million he earned in 2014. It is pertinent to note that annual bonus that Mr. Bajwa receives is much higher than his annual salary package. For instance, he earned PKR 128.3 million in 2015, and PKR 120 million in the preceding to 2015.
Many experts believe that his take-home amount might be higher than the amount he received in the last few years. However, this information is solely based on mere speculations, as the news has not been corroborated by the relevant authority.
Mr. Bajwa joined Bank Alfalah in March 2011. Since then, he has been discharging his official duties with absolute dedication and has since contributed a lot in the expansion of bank’s business and operation. Adding to that, his entire tenure at Bank Alfalah reflects a diversified portfolio and shows his footprints at across various departments within the bank. He is also a trustworthy advisor of the Dhabi Group, which offered financial consultation in the merger agreement between Mobilink and Warid.