CEO pay has grown 1,094% since 1978: Cumulative real growth in CEO pay, 1978-2024
| year | Cumulative realized CEO compensation growth | Cumulative granted CEO compensation growth |
|---|---|---|
| 1978 | 0.0% | 0.0% |
| 1979 | ||
| 1980 | ||
| 1981 | ||
| 1982 | ||
| 1983 | ||
| 1984 | ||
| 1985 | ||
| 1986 | ||
| 1987 | ||
| 1988 | ||
| 1989 | 86.6% | 86.6% |
| 1990 | ||
| 1991 | ||
| 1992 | 230.8% | 230.8% |
| 1993 | 247.5% | 311.9% |
| 1994 | 182.9% | 397.6% |
| 1995 | 262.1% | 428.3% |
| 1996 | 372.9% | 633.0% |
| 1997 | 618.9% | 875.2% |
| 1998 | 961.7% | 1226.1% |
| 1999 | 851.2% | 1201.7% |
| 2000 | 1218.8% | 1631.9% |
| 2001 | 634.2% | 1357.6% |
| 2002 | 537.6% | 988.8% |
| 2003 | 721.3% | 965.8% |
| 2004 | 826.5% | 992.6% |
| 2005 | 1025.1% | 1042.5% |
| 2006 | 1051.1% | 1023.3% |
| 2007 | 1088.1% | 1075.9% |
| 2008 | 676.6% | 960.6% |
| 2009 | 521.3% | 795.9% |
| 2010 | 685.0% | 916.8% |
| 2011 | 759.8% | 936.5% |
| 2012 | 1181.4% | 888.2% |
| 2013 | 1016.0% | 939.5% |
| 2014 | 1067.0% | 967.3% |
| 2015 | 1097.5% | 974.1% |
| 2016 | 949.0% | 1011.1% |
| 2017 | 1068.3% | 1113.6% |
| 2018 | 1051.4% | 1097.7% |
| 2019 | 1191.1% | 1127.6% |
| 2020 | 1424.2% | 1046.7% |
| 2021 | 1590.6% | 1394.1% |
| 2022 | 1370.1% | 1097.4% |
| 2023 | 1027.4% | 961.1% |
| 2024 | 1093.6% | 1057.4% |
Notes: Average annual compensation for CEOs at the top 350 U.S. firms ranked by sales is measured in two ways. Both include salary, bonus, and long-term incentive payouts, but the “granted” measure includes the value of stock options and stock awards when they were granted, whereas the “realized” measure captures the value of stock-related components that accrues after options or stock awards are granted by including “stock options exercised” and “vested stock awards.” Projected value for 2024 is based on the percent change in CEO pay in the samples available in June 2023 and in June 2024 applied to the full-year 2023 value.
Source: Authors’ analysis of data from Compustat’s ExecuComp database.