Chief executives are getting paid more money than in previous years, according to a new report by executive data firm Equilar.
The company, which tracks executive compensation in its Equilar 100 study, identified CEO pay at 100 of the largest U.S. companies that filed proxy statements before March 31 and determined that total average compensation for industry leaders reached $15.7 million in 2017. Although pay increases dipped slightly compared with 2016, overall salaries were still higher last year, with the numbers outperforming the median $15 million they received the prior year. On average, CEOs took home a 5 percent raise.
A majority of the companies represented the tech and financial sectors and retail saw only two executives make the cut: Nike’s Mark Parker, who earned $13.9 million last year, and Kevin Mansell of Kohl’s, who brought in $11.3 million, an increase of 35 percent from his previous paycheck, the report found.
Overall, the top earners in the study were Hock E. Tan of semiconductor company Broadcom, with a total compensation of $103.2 million, trailed by Brian Duperreault of finance firm American International Group with $42.8 million and Mark V. Hurd of software giant Oracle with $40.8 million.
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Nike’s Parker — who has been president and CEO of the athletic behemoth since 2006 — was named chairman in 2016 following co-founder Phil Knight’s exit.
Mansell announced last fall that he would retire as leader of the department store chain in May following a 35-year run. He will be succeeded by chief merchandising and customer officer Michelle Gass.
Note: The list of 100 is a subset of the Equilar 500 index of the largest companies by revenue based on one of the major U.S. stock exchanges. It comprises companies in the following sectors: services (of which there are 28 companies), technology (15), financial (14), health care (13), consumer goods (11), basic materials (8), industrial goods (6), conglomerates (4) and utilities (1).
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