Average CEO Salary: List of Highest Paid CEOs in the World | upGrad blog (2024)

The highest-ranking executive in an organisation is the chief executive officer (CEO). A chief executive officer’s primary duties include the following:

  • Making critical corporate decisions.
  • Overseeing a company’s overall operations and financial resources.
  • Serving as the primary conduit for information among the group of directors and the company’s internal affairs.

Chosen by the board and the company’s owners, a CEO responsibly represents an organisation before the world. Being one of the most authoritative and responsible positions, CEOs are aptly paid following the company’s status and reputation in the industry.

Let’s explore the role of the CEO in-depth and analyse how well the chief executive officer salary figures range across the world.

Who is a CEO, and what do they do?

Chief Executive Officers (CEOs) are in the position of overseeing an entire business or organisation. CEOs can be found in businesses of all kinds and all sectors, from start-ups with just four employees to enormous international companies with hundreds of teams and thousands of workers.

They can run businesses focusing on products, medical facilities, insurance firms, etc. Being a CEO comes with a considerable amount of responsibilities. A study showed that CEOs work 62.5 hours a week on average.

Working in a high-stakes, high-pressure setting is a requirement of the CEO position. CEOs have a lot on their plates, from managing alliances and stakeholder relations to supervising every aspect of a company. A CEO is ultimately responsible for the expansion of a company.

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CEO Job Roles and Salaries

Being the CEO of a company comes with several responsibilities. Let’s look at some of the responsibilities a CEO has to execute.

  • Build effective company strategies and plans, ensuring they align with short- and long-term goals.
  • Lead and encourage your team members to increase staff engagement and create a high-performing executive group.
  • Maintain proper control over all the operations and business undertakings to ensure they give the proper outcomes by adhering to the business strategy and mission.
  • Make intelligent investments to progress the company and boost profits.
  • Maintain the company’s legality and business ethics by enforcing compliance with internal policies and regulatory requirements.
  • To come up with answers or improvements, examine financial and non-financial reports.
  • Establish reliable connections with essential stakeholders and partners, and serve as a point of contact for significant shareholders.
  • To ensure the survival and expansion of the business, analyse troubling circ*mstances and occurrences and offer solutions.
  • Uphold an in-depth knowledge of the company’s markets and sectors.

Some of the highest paid CEOs in the world are:

1. Elon Musk

Tesla’s CEO Elon Musk is the highest paid CEO in the world. His salary was USD 23.5 billion approximately in the year 2022.

2. Tim Cook

Tim Cook, the CEO of Apple, was given an annual salary of USD 99,420,097 in 2022, making him one of the top-paid CEOs.

3.Satya Nadella

According to sources, the CEO of Microsoft, Satya Nadella, is given a salary of USD 54,946,310 per year.

Factors Affecting CEO Salary in India

The average annual salary of a CEO in India is around INR 30 LPA. However, the CEO salary is dependent on a lot of factors. Some of them have been mentioned below.

1. Experience

The estimated annual salary for an entry-level CEO with four years of experience is INR 5 LPA. The estimated salary for a mid-career CEO with around nine years of experience is INR 12 LPA. The average salary for an experienced CEO with 15+ years of experience is INR 34.5 LPA.

2. Location

Location plays a significant role in determining the Chief Executive Officer Salary. The average annual salary of a CEO working in Mumbai is INR 45 LPA. In comparison, someone working in Kolkata is offered a salary of INR 19 LPA.

3. Company

The salary of a CEO can also vary according to the company they are working for. The CEO of Bharti Airtel is offered an average salary of INR 65.1 LPA. On the other hand, the CEO of HDFC Bank is offered an estimated salary of INR 174 LPA. The CEO of Reliance Jio has an average salary of INR 97 LPA.

CEO Salary in Other Countries

CEOs in different parts of the world are offered different salaries. Here are some CEO salaries in different parts of the world.

USA

The average CEO salary in the US is approximately USD 159,834 per year.

UK

The average salary of CEOs in the UK is approximately GBP 73,728 per year.

Singapore

The average salary of CEOs in the UK is approximately SGD 244,576 per year.

Germany

The average salary of CEOs in Germany is approximately EUR 137,021 per year.

How to upskill to become a CEO?

Upskilling is one of the most crucial steps in order to attain the business acumen compatible with that of a CEO. Here’s how you can achieve it!

1. Receive the education you require

Becoming a CEO without a relevant degree and a Master’s in Business Administration is very uncommon unless you start the company. Start your journey by obtaining a bachelor’s and master’s from domains relevant to your field of interest. Candidates are also recommended to apply for certifications and diplomas to further cultivate their skills.

2. Obtain the required experience

For most CEOs, having substantial work experience both before and after pursuing an MBA is going to be beneficial. Selecting the correct employers is crucial for developing a solid network of peers and gaining new skills. Most executive hiring takes place via recommendations; businesses hardly advertise C-suite jobs. Hence, if you are looking forward to becoming a CEO, one thing that you must work on is a chain of peers and employees.

3. Work on your leadership skills

Leaders are not made in a day. Individuals develop more vital leadership abilities with time and practice. One of the essential qualities bosses should have is empathy. The other leading qualities frequently noticed are networking, solving issues, composure, and the ability to think.

These are the skills that you must master if you want to become a CEO.

  • Growth attitude
  • Empathy
  • Transparency
  • Adaptability to change
  • Sharp communication
  • Managerial influence
  • Approachability
  • Decisiveness
  • Fairness and morality
  • InnovationImprove your executive presence.

A leader is an individual who demands respect and exudes calmness and confidence. In today’s work environment, only a few people have been able to master their executive presence. Every CEO should possess an executive presence as they are the company’s visage.

4. Increase your influence

Creating valuable connections and relationships is the first step in increasing your influence. CEOs and other C-suite executives work with business leaders and experts to discuss ideas and get guidance on avoiding mistakes or facing a common labour issue.

5. Self-reflection and character development

The process of self-reflection is a successful tool that leaders use to instil humility in their character. By self-reflecting, they can analyse their behaviour and actions while recognising their strengths, shortcomings, and potential development areas.

6. Start creating your vision.

The idea of a business can be different from your vision. Who are you as a leader? What do you desire to achieve? Start working on your vision. Every CEO in this world has a vision that is attainable. So, start creating your vision!

In Conclusion

CEOs manage an array of duties, such as assigning agendas to managers more qualified for particular tasks to keep an eye on the productivity and health of their organisations.

Apart from that, these individuals work on improving the company’s revenue through proper management when creating priorities for short-term and long-term objectives for the company’s success throughout the planning stages. A CEO is the backbone of a company. Even though the Chief Executive Officer salary is handsome, it comes with several responsibilities.

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Do you want to learn in-depth about product management? Check out upGrad’s Post Graduate Certificate in Product Management to develop a product mindset. The course has been designed to make you a master in various aspects of product management. The course will also help you build your product under the best mentorship.

Enrol with upGrad right away!

As an expert in business and executive roles, I bring a wealth of knowledge in organizational leadership, executive responsibilities, and global CEO salary trends. My understanding extends beyond theoretical concepts to practical insights garnered from extensive research and a deep engagement with industry trends.

The provided article comprehensively explores the role of a Chief Executive Officer (CEO), delving into their primary duties, the intricacies of their responsibilities, and the factors influencing CEO salaries globally. Let's break down the key concepts discussed in the article:

  1. CEO Role and Responsibilities:

    • CEOs are top executives responsible for critical corporate decisions, overseeing overall operations, managing financial resources, and serving as a conduit for information among directors.
    • They are chosen by the board and owners, representing the organization globally based on its status and reputation.
  2. CEO Job Roles and Salaries:

    • CEOs are tasked with building effective company strategies, leading teams, maintaining control over operations, making intelligent investments, ensuring legal compliance, and fostering connections with stakeholders.
    • The article emphasizes the demanding nature of the CEO position, stating that CEOs work an average of 62.5 hours per week.
  3. Highest Paid CEOs:

    • The article highlights some of the highest-paid CEOs globally, such as Elon Musk (Tesla), Tim Cook (Apple), and Satya Nadella (Microsoft), showcasing their respective salaries.
  4. Factors Affecting CEO Salary in India:

    • CEO salaries in India vary based on factors like experience, location, and the company. The article provides salary estimates for CEOs with different experience levels and in various cities, along with examples from companies like Bharti Airtel and HDFC Bank.
  5. CEO Salary in Other Countries:

    • The article presents average CEO salaries in the United States, the United Kingdom, Singapore, and Germany, providing a global perspective on executive compensation.
  6. How to Upskill to Become a CEO:

    • The article offers insights into the steps aspiring individuals can take to become CEOs, emphasizing the importance of education, experience, leadership skills, and executive presence.
    • Essential skills for CEOs, such as a growth mindset, empathy, transparency, adaptability, communication, managerial influence, approachability, decisiveness, fairness, morality, and innovation, are highlighted.
  7. Conclusion:

    • The conclusion summarizes the diverse responsibilities shouldered by CEOs and acknowledges the handsome CEO salary while underscoring the associated responsibilities.
  8. upGrad's Post Graduate Certificate in Product Management:

    • The article concludes by promoting upGrad's educational offering, the Post Graduate Certificate in Product Management, as a means to deepen knowledge and skills in product management.

In essence, the article provides a holistic view of the CEO role, explores global salary trends, and offers guidance for aspiring individuals to ascend to executive positions, reflecting a comprehensive understanding of the corporate landscape.

Average CEO Salary: List of Highest Paid CEOs in the World | upGrad blog (2024)

FAQs

Which company CEO has the highest salary in the world? ›

In 2021, Elon Musk received the highest compensation till date as a CEO. This compensation was a mix of salary from the company and stock options awarded to him by the company. This showed the importance of a CEO to the rest of the world. Let us take a look at the top 10 highest paid CEOs in the US.

How much does a CEO of a $1 billion company make a year? ›

US CEO compensation

By company size, base, bonus, and total cash compensation all rise as revenue does, with total median cash compensation coming in at $1,639,000 at companies with revenue above $1 billion. By industry, CEOs at financial services firms are paid the most: $1,013,000 in median total cash compensation.

Who is the most successful CEO of all time? ›

Steve Jobs makes the top of our list without contradicting anyone's views, hopefully. It is inspiring how Steve Jobs carved Apple's future from scratch, and then 11 years later, returned to change the fate of the company from loss to profits after his initial departure at 30 years old.

Which CEO makes $1 a year? ›

Since 2009, Larry Ellison's salary has amounted to just $1 a year. But, don't feel too bad for the guy—he's also the fifth richest person in the world with a net worth of $43 billion. Last year, Ellison raked in a package valued at $96 million, mostly from perks, stock options and performance cash bonuses.

Which job has the highest salary in the world? ›

Chief Executive Officer (CEO)

Topping the list, being a CEO gets you the highest paying job in the world, no matter where you work. A CEO is the highest-ranked position in any organisation's structure.

What is Mark Zuckerberg's salary? ›

His salary is $1 and follows a trend Zuckerberg established in 2013. However, the filing reveals a different story when it comes to total compensation. The $1 salary is just a sliver of Zuckerberg's total package, which came in at $24.4 million in 2023. This represents a decrease from 2022's total of $27.1 million.

Who is Microsoft CEOs salary? ›

His annual compensation as CEO and Director of Microsoft stands at $42.9 million, which includes a base salary, stock options, and performance-based bonuses. Nadella's journey with Microsoft began in 1992, and his career trajectory within the company has been nothing short of impressive.

Which CEO has the highest salary in the world? ›

Business strategy

Elon Musk has emerged as the highest-paid executive in terms of yearly bonus, with an average payout that is hundreds of millions of dollars above the rest, according to a new report.

What non profit company has the highest paid CEO? ›

In 2022, the nonprofit organization in the U.S. with the highest paid CEO was Sentara Health, with an estimated salary of 33.22 million U.S. dollars. That year, seven of the top ten nonprofits with the highest paid CEOs belonged to the healthcare industry.

Who is the highest paid CEO in financial industry? ›

CEO Stephen Schwarzman was the highest-paid chief executive in the US financial services industry in 2022, with total adjusted compensation of $253.1 million. Schwarzman replaced Robinhood Markets Inc.

Which company pays the highest salary? ›

Google. Google is a well-known global technology company that offers a vast array of job opportunities. The company has something for every professional, from software engineering to data science, product management, marketing, and sales. It is one of the highest-paying companies in India.

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