• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
MPWMost Powerful Women

Former PepsiCo CEO Indra Nooyi explains why she ‘never ever, ever’ asked for a raise

By
Beth Kowitt
Beth Kowitt
Down Arrow Button Icon
By
Beth Kowitt
Beth Kowitt
Down Arrow Button Icon
October 8, 2021, 9:26 AM ET
Former PepsiCo CEO Indra Nooyi says her cultural upbringing kept her from asking for a raise.
Former PepsiCo CEO Indra Nooyi says her cultural upbringing kept her from asking for a raise. Erik Tanner—The New York Times/Redux
Add Fortune on Google for similar content.

Indra Nooyi set certain corners of the internet abuzz this week with comments the former PepsiCo CEO made about asking for a raise in a Q&A with the New York Times Magazine.

Nooyi said that she had “never, ever, ever asked for a raise” and had in fact even turned one down during the financial crisis. When asked why, Nooyi, who regularly ranked as one of Fortune’s Most Powerful Women in business, said, “I find it cringeworthy. I cannot imagine working for somebody and saying my pay is not enough.”

The quote was widely shared on Twitter, with some users contrasting Nooyi’s high pay as a CEO with the earnings of the average worker or wondering how Nooyi responded when her former employees asked for raises of their own.

Nooyi felt like some of the social media promotion of the piece had taken her out of context and wanted to clarify. In an interview with Fortune yesterday, she responded to the online firestorm. “I was speaking the truth about my cultural upbringing and why it stopped me from asking for certain things,” she says. “I talk about the immigrant’s fear. I’ve been honest about talking about myself. This is part of that whole package.”

Nooyi, who was born and raised in Chennai, India, and moved to the U.S. for graduate school, says that she and her husband were both brought up to never ask for anything—that they were taught if they did a good job, everything else would come with it. “I wish we were not that way. I wish we had the courage to go ask for it.” She added that since they didn’t come from much, “whatever we had we thought was a lot.”

Nooyi says that she never implied others should not ask. “You can’t take the cultural upbringing out of me,” she says. “This was unique to me. This is not what I’m preaching at all, not what I’m suggesting, not what I’m recommending.”

Nooyi stressed that she supports equal pay and that if you’re paid less than someone else in the same job, you should ask for pay parity—advice that she says she also gives her two daughters. She says that if someone brought a pay case to her when she was CEO of PepsiCo, she was particularly sensitive if it was a woman because she knew that some of them might have been hesitant to ask.

As Bloomberg reported, in Nooyi’s final year on the job in 2018, she did not rank close to the top for executive pay at public U.S. companies. When asked if she should have been paid more, she told Fortune she didn’t know. “My board she treated me fairly,” she says, adding that “if we start ratcheting up the pay structures, it’ll just become a race to the top.”

When asked if CEOs are paid too much, Nooyi said that was up to the boards and compensation committees. “CEO jobs are well-paying jobs,” she says, “but the responsibilities are very, very heavy too.”

Nooyi, who sits on the board of Amazon, says that companies should be doing a pay equity analysis every year, and focus on the details rather than totals and averages across a company. “These general pay studies get everyone worked up, but they don’t get to a solution,” she says. Companies need to analyze the data to see where the problem is, how it should be addressed, and how soon, she added. “I’m all for analysis leading to results.”

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
By Beth Kowitt
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in MPW

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in MPW

rp
CommentaryLaw
Cooley CEO: Big Law won’t survive if it treats AI as just an efficiency tool
By Rachel ProffittJune 23, 2026
1 day ago
astronaut
Commentaryspace
NASA just named an all-male crew for ‘Artemis III’: what’s a woman to do?
By Savanah F.S. Bray, PhDJune 22, 2026
2 days ago
gg
PoliticsElections
‘People are tired of hearing what government can’t do’: Democratic Socialists surge nationwide
By Matt Brown and The Associated PressJune 20, 2026
4 days ago
With the exits of Apple’s Tim Cook and Dow’s Jim Fitterling, the Fortune 500 is losing two groundbreaking gay CEOs—leaving just one 
C-SuiteLeadership
With the exits of Apple’s Tim Cook and Dow’s Jim Fitterling, the Fortune 500 is losing two groundbreaking gay CEOs—leaving just one 
By Phil WahbaJune 20, 2026
4 days ago
Exclusive: Azzi Fudd joins Project B, the international league chasing a billion-dollar opportunity in global basketball
MPWSports
Exclusive: Azzi Fudd joins Project B, the international league chasing a billion-dollar opportunity in global basketball
By Emma HinchliffeJune 19, 2026
5 days ago
Arianna Huffington swears by one boundary to switch off from work every night—and Ralph Lauren’s CHRO says it’s the best thing she’s ever done too
SuccessDay in the Life of a CEO
Arianna Huffington swears by one boundary to switch off from work every night—and Ralph Lauren’s CHRO says it’s the best thing she’s ever done too
By Orianna Rosa RoyleJune 19, 2026
5 days ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
8 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
1 day ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.