A typical CEO at one of the biggest U.S. companies took home $12.3 million last year, according to the Associated Press’s annual survey of executive compensation. The gap between the boss and their workforce widened further.
Median pay for CEOs in the survey climbed 4.1% last year, while pay for typical workers rose 3.2%. It would take two lifetimes for the typical employee at most S&P 500 companies to make what their CEO did, or 169 years, according to data analyzed by Equilar for the AP.
Lisa Su of Advanced Micro Devices topped the list. She earned compensation valued at $58.5 million after guiding her company’s stock to the best performance in the S&P 500 for two straight years. It’s the first time a woman has topped the list since the AP’s annual pay survey began in 2011.
CEOs such as Alphabet’s Sundar Pichai and Intel’s Robert Swan had packages that were valued even higher that Su’s, but were excluded because the AP’s survey looks only at S&P 500 bosses who have been in the job for at least two years, in part to avoid distortions caused by sign-on bonuses.
The AP’s compensation study included pay data for 329 CEOs at S&P 500 companies who have served at least two full fiscal years at their companies, which filed proxy statements between Jan. 1 and April 30.