The CEOs of Australia's largest ASX-listed companies earn 55 times the average Australian worker's wage, with a United States-based chief executive topping the pay rankings in 2024.
The Australian Council of Superannuation Investors (ACSI) ranks the highest-paid CEOs of ASX 200 companies in its annual review each year.
The median realised pay for ASX 100 leaders, which includes fixed pay and bonuses received, was $4.15 million, up from $3.96 million a decade prior in 2014.
CEO pay at smaller listed companies has increased over time, with the median wage climbing from $1.74 million in 2014 to $2.2 million in 2024.
While CEOs earn millions annually, the gap between them and the average worker has been shrinking over the past decade.
The top-paid CEO was Robert Thomson, a US-based executive who heads News Corporation and earns nearly $42 million annually. Source: SBS News
Executives in the US and one woman make the list
The top earner for the financial year 2024 was Robert Thomson of News Corporation, who earned $42 million annually, closely followed by Victor Herrero, CEO of jewellery retailer Lovisa, with $39.5 million.
Shemara Wikramanayake, the only woman in the top 20, made $30 million as CEO of Macquarie Group.
Wikramanayake was the highest-paid CEO if only ASX 100 companies were analysed.
Two US companies made the top five: News Corp and medical equipment firm ResMed, which paid its CEO, Mick Farrell, $20 million last financial year.
Another three US-based businesses cracked the top 20, with their CEOs earning more on average — a trend ACSI attributes to North American "pay practices".
CEOs earned 55 times the average wage of an Australian worker in 2024, representing a wider gap than the previous year, when leaders outearned average workers by 50 times.
But the gap has narrowed significantly compared to 2014, when CEOs earned 71 times more than the average worker in Australia.
Ed John, ACSI's executive manager of stewardship, said: "Australia is actually doing well relative to other markets where there's been a significant breakout in CEO pay."
"There's been recent studies that show CEO pay is a multiple of about 106 times median salaries in the UK and in the US, that's actually more than 300 times in the largest companies."
