CEO Pay Soars 7.7% as America’s Top Bosses Cash In at Record Pace
America’s top execs are giving themselves a raise — and it’s a big one. In 2024, S&P 500 CEO compensation jumped 7.7%, reaching a median of $19M — more than double the 3.6% wage increase typical employees received. This marks the fastest executive pay acceleration in four years, widening the gulf between corner office and cubicle.
- Axon Enterprise’sAXON Rick Smith topped the charts with a $164.5M package, mostly from stock awards after hitting multi-year performance targets.
- Starbucks’SBUX Brian Niccol earned $95.8M — creating a pay ratio of 6,666 to 1 when compared to the company’s median part-time barista who makes ~$15K annually.
Profits vs. people: Despite mounting criticism from labor groups, Farient Advisors’ Eric Hoffmann noted, “We’re still seeing executive pay increases above the inflationary rate as well as above typical rank-and-file employees.” In the past five years, shareholder approval for these hefty packages has remained rock-solid at ~92.4% to 92.6%. Critics argue this growing disparity undermines democracy itself, yet companies defend these packages as necessary to attract top talent in competitive markets — though whether that talent justifies such astronomical premiums remains hotly debated.