ACSI’s 24th annual surveyof CEO pay in Australia’s largest listed companies, was conducted with researchfrom Ownership Matters. It remains the benchmark longitudinal study into remuneration trends and outcomes, and includes our unique ‘realised pay’ data.
Key findings:
- Termination payments cut – ASX100 CEO termination payments were at their lowest level in 15 years, dropping to $8.38 million in FY24, down from $33.52 million. Investors are saving on termination costs as the average payout per CEO fell from $1.97 to $1.40 million.
- Realised pay – ASX100 CEO pay has flattened over the last decade, with the median realised pay at $4.15 million compared to $3.96 million in FY14. Average realised pay for ASX100 CEOs was 55 times the average earnings of an Australian worker, down from to 71 times in FY14.
- Smaller company CEO pay increasing with the highest paid Australian-based CEO coming from outside the ASX100. Global jewellery chain Lovisa’s CEO, Victor Herrero, received the highest realised pay of the 150 CEOs in the sample, taking home $39.55 million (Mr Herrero left the company in May 2025). CEO pay in the smaller companies in the ASX101-200 has increased over time with the median climbing from $1.74 million in FY14 to $2.17 million in FY24.
- US-based CEOs continue to feature heavily in the top 20 highest paid CEOs on a realised pay basis with News Corporation CEO Robert Thomson topping the list with realised pay of $41.88 million.
- Bonuses remain persistent – It remains rare for CEOs to miss out on a bonus. Of the 142 CEOs eligible for a bonus in FY24, only five received zero. In FY24, the median CEO bonus was paid at just under 66% of maximum in line with the long term trend.
20 highest-paid ASX200 CEOs on a realised-pay basis in FY24 (including foreign-based company CEOs):
