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News

New York-Area CEOs’ Median Compensation Rose Last Year

By:
S.J. Steinhardt
Published Date:
Sep 9, 2022

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Inflation may be eating into New Yorkers’ net worth, but some CEOs may not be feeling its bite, Crain’s New York Business has revealed.

An analysis by the magazine found that the median compensation for New York-area executives of the top 100 publicly traded companies rose by about one third—34 percent—last year. The national inflation rate is 8.5 percent.

The median compensation for those on the list was almost $20 million. That includes “salary, bonus, nonequity incentive plan, option awards, stock awards, deferred compensation and other compensation for the year 2021,” the magazine reported.

Topping the list were Joseph Bae and Scott Nuttall, the new co-CEOs of private equity firm KKR & Co., with a total compensation of $559.6 million and $523.1 million, respectively. Crain’s noted that the bulk of their compensation is contained in units of equity—a common structure that rewards meeting certain targets.

Only eight of the 100 CEOs on this year’s list are women, though that number is double that of last year’s list. The average age of the listed executives is 57.