Significant Surge in Executive Pay in Australia

Executive compensation has seen a substantial increase over the past year, according to a survey by the Governance Institute of Australia (GIA). Data from McGuirk Management Consultants for GIA revealed that CEOs of ASX-listed companies experienced an average base pay rise of 14%, while managing directors received an 11 percent increase.

At ASX 200 companies, the average fixed remuneration for a CEO climbed to $1.37 million annually, with managing directors earning an average of $1.88 million. In contrast, general staff across over 1,000 surveyed organizations in public, private, and non-profit sectors saw an average pay rise of 5 percent during the same period.

CEOs outside the ASX 200, particularly in the information, media, and technology sectors, had the highest average fixed salaries at nearly $1.05 million, followed by superannuation funds at $607,000. Conversely, CEOs in education and training, retail trade, and administration and support sectors earned less than $300,000.

For managing directors, the highest average pay was observed in junior mining, rental, hiring, real estate, and utilities sectors. Half of the CEOs and managing directors from listed companies were eligible for bonuses, reflecting the competitive demand for top talent in Australia. GIA CEO Megan Motto emphasized the need for companies to secure the best leadership in a global talent pool.

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