CEO pay is exploding—and Axon’s Rick Smith is the biggest winner of them all

New York (AP) – The custom compensation package for chief executives running S & P 500 companies jumped nearly 10% ofThe stock market is pleased with another year bannerAnd the corporation grew greatly.

Many companies listen to calls from shareholders to fasten the CEO fee better in performance. As a result, a large proportion of Pay packs consisting of stock awards, which is often non-cash in CEO, if a company is higher targets or market value.

The Survey of Associated Press’ CEO CEO Conceation, using dataAnalyzed for AP by equilarIncludes payment data for 344 executives of S & P 500 companies serving at least two full consecutive years on the fishery of January 1 and April 30.

Here are the reasons Takeaways from the survey:

A good year on top

The median pay package for CEOs stood at $ 17.1 million, at 9.7%. Meanwhile, the median employee of survey companies earned $ 85,419, showing a 1.7% increase in year of year.

CEOs need to navigate sticky inflation and relatively high interest rates last year, as wellRefuse consumer trust. But the economy also gives winds of the tail: Consumers continue to spend despite their mistakes in economic mistakes; The inflation is purified; the fedlowed interest rates;; and theThe job market remains strong.

The main benchmark of the stock market, the S & P 500, raised more than 23% last year. Income for index companies grow more than 9%.

“The expected 2024 is a strong year, so (nearly) 10% increase in time payments,” As Dan Laddin, a companionship partners, is a companion partners.

Sarah Anderson, in charge of the world’s economic project of progressive institutes for policy studies, says there are some new rises at work. But he said so much in the world’s richest countries still struggling to pay their bills.

The main typically

Rick Smith, the builder and CEO of Axon businesses, is the first of the survey with a wage package valued at $ 164.5 million. Axon, making the Taser Stun guns and body cameras, saw the income growing more than 30% in three years of recycling in 2024.

Almost all in the Pave Packe packet of Smith consists of stock awards, which can only accept whether the company has met with its stock price range from 2024 to 2030.

Other leading survey earnings include CEO ofwhat is gefactafac nowE ($ 87.4 million),Tim Cook in Apple($ 74.6 million), David Gitlin and Carrier Global ($ 65.6 million) andTed Sarandos on Netflix($ 61.9 million). The majority of those who pay the packages contains stock or optional awards.

The median stock award rises around 15% last year compared to a 4% increase in base salaries, according to equilar.

“For the Sereo, the target long incentives often increases more each year than salaries or bonuses,” as a partners of advisory partners. “Given the important role played by long-term Executive Pay incentives, this trend is meaningful.”

Jackie Cook of Wallystar Spacteralytics says the benefit of the CEO performance fee is “Space-Feach-Base fees appear to take care of a clear shareholders.” But he noticed that the most use of the part-based fee caused by a “phenomenal rise” in the CEO Compensation “which is tracking the market activity within the Sage inside of jobs.”

Some known CEOs in the billionaire under AP survey. Warren Buffett’s compensation is appreciated at $ 405,000, about five times what a worker is at Berkshire Hathaway makes. According to Tesla’s proxy, Elon Mok did not receive 2024, but in 2018 he was given a multiyear park valued at $ 56 billion and wasthe subject of a court war.

Other known CEOs do not meet criteria for inclusion of survey. Starbucks’ Brian Niccol receives a Pay Packet Valued at $ 95.8 million, but he just took Coo in September on April 30.

The Gap Gap

In half of the company’s annual Survey of the ap, take the worker in the middle of the Say Scale of Company 192 year to make the CEO do. Companies are required to reveal this called advice ratio since 2018.

The ratio of pay is higher than the industries companies where the wages are usually low. For example, at the Cruise Line Company Carnival The Corp., the CEO earns about 1,300 times the median salary of $ 16,900 for its workers. McDonald’s CEO makes about 1,000 times what a worker is made by the company’s median fee. Both companies have operations surrounding many countries.

Overall, the salaries and benefits of the workers in the private US sector are increasing 3.6% to 2024, according to the labor department. The average US worker makes $ 65,460 a year. That number will rise to $ 92,000 if benefits such as health care and other insurance are included.

“In the CEO Pay continues to climb, we have a huge problem of excessive pay gaps,” Anderson said. “These great differences are not only not only inferior to lower levels of workers worth the company undercutting employee’s repair and rearing of turn rates.”

Others get for female decisions

For 27 women who make the survey survey – the highest number starting in 2014 – Median Rail raises 10.7% to $ 20 million. Comparing a 9.7% increase of $ 16.8 million for their male counterparts.

The highest earnings of women’s deserts Judith Mark at Otis all over the worldwith a salary package valued at $ 42.1 million. Company, known to elevators and escalators, operating profits above $ 2 billion within four straight years. About $ 35 million rated fees’ are in the form of stock awards.

Other main earnings in female deserts are Jane Fraser at Citigrouup ($ 31.1 million), Lisa su to Advanced Micro Device ($ 31 million), Mary Barra SA General Motors ($ 29.5 million) and Laura Alber at Williams-Sonoma ($ 27.7 million).

Christy Glass, a Professor of Sociology of Utah State University studying justice, participating and the main women’s programs, especially companies traded in Dei programs.

“It’s probably a couple of many names on the list, but we’ll never move the needle,” he said.

Security first

Equarar knows that a larger number of companies offer security perquisites as part of the executive compensation packages, possible reactions to the CEO CEO CEO Thompson.

Equarar said an analysis of 208 S & P 500 companies filed April 2 indicated by median spending $ 94,276 in 2023.

Among the companies increasing their security perks Agethat provides Medicare Health care services and Medicaid, and the Chipmaker Lol.

This story originally shown Fortune.com

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