CEO Pay Rose 10% In 2024 Amid Soaring Stock Prices, Corporate Profits

Chief executive officers at S&P 500 companies saw their median compensation rise nearly 10% in 2024, as stock markets surged and profits hit record highs, Associated Press (AP) reporters Mae Anderson and Paul Harloff wrote.

Most CEO pay is now performance-based and tied to stock awards that vest only if companies meet certain benchmarks.

According to an AP analysis of Equilar data covering 344 CEOs who served at least two full fiscal years, the median compensation package rose to $17.1 million—up 9.7% from the previous year.

The median employee at these companies earned $85,419, a 1.7% increase.

Most CEO pay is now performance-based and tied to stock awards that vest only if companies meet certain benchmarks, such as increased share prices or profits.

The top-paid CEO in the survey was Rick Smith of Axon Enterprises, whose $164.5 million package came as the company posted $377 million in net income and saw its stock more than double for the second consecutive year.