‘My salary is…’: CRED’s Kunal Shah reveals how much he earns per month

KEY HIGHLIGHTS

• CRED’s Kunal Shah in an 'AMA' session on Instagram, spoke about his salary
• He also explained the reason behind earning Rs 15,000 per month
• Twitter users had a lot to say about his salary, with many being unenthused

In an 'Ask Me Anything' session on Instagram, CRED CEO Kunal Shah disclosed that he earns salary of mere Rs 15,000 per month and when people asked him why he chose to draw such a low amount as salary, he answered by saying that he would not take a large salary until the company becomes profitable.

“I don’t believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month and I can survive as I sold my company FreeCharge in the past," Shah wrote on Instagram. He was replying to a question posed by a user: "Your salary at CRED is so low? How do you survive?" 

A Twitter user took a screenshot of the story and wrote, “There are CEOs who take salaries in crores then we have Kunal Shah.”

The post garnered huge likes and comments. Twitter users were not very happy with the post. One user wrote, "It's pretty absurd to me that in the age of near-perfect information, most of the world still falls for the 'I only pay myself $1 salary' dedicated founder grift. Founder equity is worth 100x+ any reasonable salary and they get taxed less on it."

"Most CEOs don’t take salary because they have to pay income tax on it, they get paid in stock options which they can leverage for debt in future tax-free," another user commented.

"Being humble and flexing in the same sentence. His words always poke me to be curious," said a user.

"He should take his salary in CRED coins,” another one said. “He will sell his shares in series rounds right,so he doesn't care about salary," wrote another user.

CRED,  a fintech unicorn headquartered in Bengaluru, lets users make credit card payments via its app and get exclusive offers in return. Founded in April 2018 by Kunal Shah, CRED allows you to manage and pay off all your credit card dues. It not only gives exclusive discounts on credit cards but also tracks expenses.

Also Read: Kunal Shah’s CRED to acquire SaaS platform, CreditVidya