U.S. CEO Pay Climbs Nearly 6% To USD 17.7 Million In 2025: AP Survey

CEO pay at major U.S. public companies increased significantly in 2025, with the typical package rising nearly 6% to USD 17.7 million, according to the Associated Press’ annual CEO Compensation Survey. The increase was driven by stronger corporate profits, higher stock prices, and compensation structures designed to retain executives and align their interests with shareholder returns.

Meanwhile, median employee pay at surveyed S&P 500 companies rose 4.7% to USD 89,744, outpacing inflation. However, the gap between executive and employee earnings continued to widen, with a median employee needing 200 years to earn what a CEO makes in a single year. Shareholders remained largely supportive of executive compensation, with around 90% approval in non-binding “say on pay” votes. Among the highest-paid executives, Tesla CEO Elon Musk topped the list with a compensation package valued at USD 132.3 billion, followed by Welltower CEO Shankh Mitra at USD 821.1 million and Broadcom CEO Hock Tan at USD 205.3 million.

Citigroup CEO Jane Fraser received USD 95.8 million, making her the highest-paid woman CEO in the survey’s history. The survey also found that while median compensation for male CEOs increased 6.4% to USD 17.7 million, median pay for women CEOs declined 2.6% to USD 18.1 million. The AP noted that modern CEO compensation is increasingly tied to long-term stock awards and performance targets rather than traditional salary and bonuses.