S&P 500 CEOs earn 200 times more than their employees in 2023

1008p2 Wall Street sign Main i

Emisores | Senior executives at S&P 500 index companies earned a total salary package in 2023 that was 13% higher than in the previous year, according to an analysis by Associated Press based on data from Equilar. For CEOs, the rise was 12.6%, to an average annual total compensation of $16.3 million – the equivalent of €14.99 million – which was 200 times more than the average salary earned by employees of the companies they lead. “Nearly two dozen CEOs had a 50% or more increase” in their pay, according to the analysis.

The highest paid CEO out of the sample of 341 analysed was Hock Tan of Broadcom Inc. at $162 million – almost €149 million. Broadcom, a company that makes chips for artificial intelligence, has increased its market capitalisation under Tang’s tenure from $3.8 billion in 2009 to $645 billion as of 23 May, according to the same source.

Other notable salaries last year included $63.2 million for Apple’s Tim Cook and $49.8 million for Netflix co-CEO Ted Sarandos. Although Elon Musk is not supposed to receive a salary as CEO of Tesla, the same source values his shareholding in the company at around $45 billion -€41.39 billion-.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.