The Australian Council of Superannuation Investors’ (ACSI) 17th annual survey of chief executive remuneration in ASX200 companies has revealed that chief executive pay is on the rise.
With no sign of the wage stagnation that’s affected the rest of the workforce, the average realised pay for CEOs has reached its highest level in four years.
This is in line with strong equity markets pushing bonuses higher.
The survey showed that the bonus for most ASX100 CEOs came in at a significant proportion of their maximum entitlement. Bonus payments rose more than 18 per cent, with the survey revealing that close to one in three ASX 100 chief executives awarded at least 80 per cent of their maximum bonus.
The top three ASX 200 earners in the 2017 financial year include Domino’s Pizza Enterprises chief executive Don Meij at $36.8 million; Peter & Steven Lowy of Westfield at $25.9 million and Macquarie Group chief executive Nicholas Moore at $25.2 million.
Median realised pay for an ASX100 CEO was up12.4 per cent to $4.36 million.
The survey results coincide with the banking royal commission revealing unlawful, unethical and possible criminal activity in some parts of the banking and insurance sectors.