The CEOs of S&P 500 companies continue to enjoy record-breaking compensation packages, with technology and finance industry leaders dominating the top spots. In 2023, the pay for chief executives at these major companies reached new heights, reflecting their role in driving corporate success and shareholder value. Among the top earners, two Indian-origin leaders have made their mark, underscoring their growing influence in global business.
According to data from Equilar and AFL-CIO, the average CEO compensation at S&P 500 companies hit $17.7 million in 2023, marking a 6% increase from the previous year. The median pay for CEOs also saw a significant rise, reaching $16.3 million—a 12.6% growth. These figures reflect the strong economic performance and resilience of corporations, which in turn has rewarded executives with hefty pay packages. Some CEOs even received pay increases of 50% or more due to their outstanding leadership and the soaring stock prices of their companies.
Top 10 Highest-Paid CEOs of the S&P 500 in 2023:
- Hock Tan, Broadcom Inc. – $161.8 million
- Nikesh Arora, Palo Alto Networks Inc. – $151.4 million
- Stephen Schwarzman, Blackstone Inc. – $119.8 million
- Christopher Winfrey, Charter Communications – $89.1 million
- William Lansing, Fair Isaac Corp. – $66.3 million
- Tim Cook, Apple Inc. – $63.2 million
- Hamid Moghadam, Prologis Inc. – $50.9 million
- Ted Sarandos, Netflix Inc. – $49.8 million
- David Zaslav, Warner Bros. Discovery – $49.7 million
- Satya Nadella, Microsoft Corp. – $48.5 million
At the top of the list is Hock Tan, CEO of Broadcom Inc., who received a massive pay package of $161.8 million in 2023. Broadcom has been thriving in the semiconductor sector, and under Tan’s leadership, the company’s market value has skyrocketed. In second place is Nikesh Arora, CEO of Palo Alto Networks, with a total compensation of $151.4 million. Arora’s leadership in the cybersecurity sector has been highly praised, and his compensation reflects his impact on Palo Alto Networks’ success.
Another notable Indian-origin leader is Satya Nadella, CEO of Microsoft Corp., who ranks 10th on the list with $48.5 million in total compensation. Since becoming CEO in 2014, Nadella has transformed Microsoft, focusing on cloud computing and artificial intelligence, which has driven Microsoft’s continued growth and innovation.
Despite the immense rewards enjoyed by these top executives, there remains a significant gender gap in CEO representation. While women’s participation in executive positions has increased, out of the 341 CEOs surveyed, only 25 were women. Lisa Su, CEO of AMD, stands out as the highest-paid female executive, earning $30.3 million in 2023. Her leadership has been instrumental in AMD’s rise as a semiconductor powerhouse.
These figures highlight not only the growing influence of tech and finance sectors but also the ongoing conversation around executive pay, gender representation, and corporate governance.
