Charted: Boston's highest-paid CEOs
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Several CEOs leading Greater Boston’s largest public companies saw bigger paychecks in 2022 despite volatility in the stock market.
What’s happening: 11 chief executives saw increases in pay last year, while five saw drops, according to an Axios analysis of financial disclosures for 16 companies.
Why it matters: Even in the worst stock market year since 2008, the heads of these companies were paid hundreds of times more than their median employees.
Zoom in: Thermo Fisher CEO Marc Casper’s total compensation grew by $7 million last year, reaching $28.2 million.
- Casper’s total pay was 363 times the median employee salary of $77,806.
Joe Nolan of Eversource Energy saw his total compensation nearly double last year to reach nearly $13 million.
- Nolan’s total pay was 95 times the median employee salary of $136,254.
Meanwhile, General Electric CEO Larry Culp saw his total pay fall by $14.5 million last year after he agreed to a smaller annual stock award, per Bloomberg.
- Culp still made $8.2 million last year — 164 times the median employee salary of $49,947. In 2021, his total pay was 412 times the median salary.
Between the lines: CEO salaries largely remained steady, even for executives like Casper and Nolan. Compensation changes are almost always tied to fluctuations in stock and retirement benefits, which are closely tied to the stock market.
Worth noting: Wayfair spent $668,021 on personal security for CEO Niraj Shah in 2022, comprising the bulk of his total pay of $751,221.
- In 2021, Wayfair paid Shah $227,271, with $144,059 going toward his personal security, per SEC filings and the BBJ.
We also tracked which companies reported subsidizing their CEO’s personal use of corporate jets and planes.
- Thermo Fisher, GE, BJ’s Wholesale, Keurig Dr Pepper, Boston Scientific Corp. and Analog Devices covered the cost for their CEOs.