The salaries of CEOs at some of Australia’s biggest companies are 55 times the average adult’s earnings.
According to new data from the Australian Council of Superannuation Investors (ACSI), CEO salaries have increased at more than double the national average pay rise rate.
News Corp’s U.S-based CEO Robert Thomson was the ASX’s highest paid boss on $41.88 million, up roughly $300,000 from the previous year.
Here’s what else the report found.
The study
ACSI’s annual analysis of CEO pay trends and outcomes is focused on Australia’s largest listed companies.
A listed company means its shares are available to be bought and sold on the Australian stock market (ASX). This is also known as a ‘public’ company.
This year’s sample includes 150 CEOs from the biggest 200 ASX-listed companies.
The report looks at realised pay rather than salary: the combined value of cash and equity the CEOs received.
Findings
The study found that termination payments for CEOs of the top 100 ASX-listed companies have dropped to the lowest level in 15 years.
The trend follows a law change after the Global Financial Crisis, which gave shareholders greater input on large payouts.
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However, bonuses have remained high.
Almost all of the surveyed bosses received a bonus, regardless of their company’s performance.
The report also found that the average pay for CEOs has not risen significantly.
The median realised pay was $4.15 million, compared to $3.96 million a decade ago.
While CEO pay was 55 times that of the average worker last year, the gap is smaller than other countries.
“We have worked hard to avoid the eye-watering outcomes that we see in other markets like the U.S,” said ACSI executive Ed John.
A similar study showed the top CEOs in the U.S. are paid 348 times the earnings of the average worker.
Top earners
Jewellery chain Lovisa’s CEO Victor Herrero received $39.55 million, making him the highest-paid Australian-based chief executive. Herrero stepped down from the role in May 2025.
Macquarie Group’s Shemara Wikramanayake was the highest paid woman on the list, with $29.76 million.
The CEOs from BHP, Rio Tinto, and Commonwealth Bank also made the top 20.
