As every year, Equilar 100 offered an early look at CEO compensation among the largest companies by revenue in the United States, where Patrick P. Gelsinger of Intel; Apple’s Tim Cook; and Hock E. Tan of Brodcom head the list.
The study includes companies that filed annual proxy statements before March 31, considered the “halfway” point in the annual proxy season. Thousands more public companies will file executive compensation data during the months of April and May.
Top Ten Equal 100
1. Patrick P. Gelsinger, Intel
Total compensation: $177,905,400
2. Apple’s Tim Cook
Total compensation: $98,734,394
3. Hock E. Tan of Broadcom
Total compensation: $60,703,627
4. Satya Nadella of Microsoft
Total compensation: $49,858,280
5. Thomas M. Rutledge of Charter Communication
Total compensation: $41,800,961
6. David Solomon of Goldman Sachs
Total compensation: $39,545,072
7. Gary E. Dickerson of Applied Materials
Total compensation: $35,265,559
8. Jonathan M. Jaffe of Lennar
Total compensation: $34,045,217
9. Rick Beckwitt of Lennar
Total compensation: $34,045,217
10. John Donahoe II, Nike
Total compensation: $32,920,708
To see the full list see here.
Among Equilar’s key trends and takeaways for this year are:
– CEO pay rebounded from pandemic ‘troubles’. Median total compensation skyrocketed to $20 million for Equilar 100 CEOs in 2021, representing a whopping 30.8% pay increase among the same companies from 2020. By comparison, Equilar 100 CEOs received $15.5 million on the previous year’s list.
– Increases were observed in all salary components. The median value of stock awards increased 22.7% in 2021, from $8.6 million to $10.5 million. Meanwhile, cash bonuses increased 46.4% in 2021, from $2.8 million to $4.2 million.
– As a result of the Covid pandemic, in the last two years, many companies chose to reward their CEOs for staying on board. and guide their organizations through turbulent times through bonuses and stock awards. The trend, coupled with the fact that the economy returned to growth in 2021, is likely to contribute to the increase in the overall salary of CEOs of the largest US companies.
– The relationship between CEO compensation and average workers is drifting apart. Among Equilar’s 100 companies in 2021, the median CEO pay ratio was 254:1, which is considerably higher than the 238:1 ratio seen in the 2020 list.
– Fewer than 10 women lead Equilar 100 companies. There were only nine women in the CEO position in Equilar’s 100 companies in 2021, a slight increase from six in the previous year’s study. None of these women are in the top 10 paid. The highest-paid woman on this year’s list is Rosalind G. Brewer, the new CEO of Walgreens Boots Alliance, which received $28.3 million in 2021. Brewer is also the 14th highest-paid CEO overall in this year’s study.
Apple topped Equilar 100 in total revenue for the third year in a row, topping $365 billion in revenue in 2021. The second highest earner belonged to Berkshire Hathaway with $276 billion in 2021. Overall, the median revenue for the Equilar 100 was about $43.8 billion in 2021, a significant increase from $37.4 billion in 2020.
Equilar 100 notes that while many of the companies are consistent from year to year, due to changes in revenue and floating filing dates, the list is not the same every year.
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