However, with his 495th rank, Pandit, is still placed higher than the world's richest man and legendary investor Warren Buffett in terms of compensation received for the latest fiscal year.
Buffett has been ranked 497th with a pay packet of 0.10 million dollars, as against 0.25 million dollars of Pandit.
The list, which includes at least six persons of Indian origin, has been topped by business software giant Oracle's CEO Larry Ellison with total compensation of 192.92 million dollars for 2007 that included one million dollar in salary and 182 million dollars from exercise of vested stock options.
Among the India-origin CEOs, beverages giant Pepsico Chief Indra K Nooyi has been ranked highest at 139th, followed by Shantanu Narayen of software major Adobe Systems (154th), Raj L Gupta of specialty chemicals firm Rohm and Haas (399th), Surya N Mohapatra of healthcare equipment maker Quest Diagnostics (406th) and software solutions provider Cognizant Technology CEO Francisco D'Souza (487th).
The Forbes list has put Chennai-born Indra Nooyi's pay packet at 12.74 million dollars. Nooyi has been heading Pepsico for about two years, while Pandit took over as he CEO of subprime crisis-ridden Citigroup in December last year.
More From This Section
In the banking sector, Pandit is ranked 30th, while Nooyi is on third spot in the food, drink and tobacco industry.
Ranks are based on total compensation for latest fiscal year, which includes salary and bonuses, other compensation, such as vested restricted stock grants and the value realised by exercising stock options, Forbes said.