When you hear about sky-high CEO pay, names such as Apple CEO Tim Cook, CEO of Microsoft Satya Nadella, or even Starbucks CEO Brian Niccol may spring to mind. But, the highest-paid CEO in the United States this year is someone most people have mostly never heard of: Jim Anderson, the CEO of a Pennsylvania-based laser and networking firm named Coherent, as per Fortune.
According to early 2024 figures gathered by executive intelligence company Equilar, Anderson tops the list of America's 100 best-paid CEOs with total compensation at $101,497,009, reported Fortune. That's higher than Apple's Tim Cook at $74.6 million, Microsoft's Satya Nadella at $79.1 million, Disney's Bob Iger at $40.6 million, and even Starbucks' Brian Niccol at $95.8 million, as per Fortune.
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While, Equilar found that CEO's compensations have increased in recent years due to big stock payouts, it also found that stock awards made up just under three-quarters of the total median pay for the CEOs studied, reported Fortune.
Anderson is the only CEO this year to exceed the $100 million threshold, according to proxy filings tallied through March 31. The median compensation of CEOs in 2024 was $25.6 million, up 9.5% from last year, as per Fortune.
He's currently the highest-paid CEO in the US for 2024, with a total compensation package of over $101 million,
as per Fortune.
How does his pay compare to CEOs like Tim Cook or Satya Nadella?
He actually made more than both of them this year. Cook earned $74.6 million and Nadella earned $79.1 million.
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Who is Jim Anderson?
The 52-year-old, became CEO of Coherent in June of 2024, taking the role from retired CEO Chuck Mattera, as per Fortune. He was previously CEO of Lattice Semiconductor and also served in senior leadership positions at AMD, heading up computing and graphics, according to the report.ALSO READ: Warren Buffett gave priceless lessons to young investors, and they had nothing to do with where to invest their money; here's what he said and why everyone is talking about it
How Did He Earn So Much?
Although his base pay is $1.06 million, he received just $81,538 in cash because he joined the company in the middle of the year, as per Fortune. He was also given a signing bonus of $500,000 and was awarded more than $100,000,000 in stock awards, as per Coherent’s 2024 proxy statement, reported Fortune.While, Equilar found that CEO's compensations have increased in recent years due to big stock payouts, it also found that stock awards made up just under three-quarters of the total median pay for the CEOs studied, reported Fortune.
A Standout in CEO Pay
Anderson is the only CEO this year to exceed the $100 million threshold, according to proxy filings tallied through March 31. The median compensation of CEOs in 2024 was $25.6 million, up 9.5% from last year, as per Fortune. FAQs
Why is Jim Anderson in the news?He's currently the highest-paid CEO in the US for 2024, with a total compensation package of over $101 million,
as per Fortune.
How does his pay compare to CEOs like Tim Cook or Satya Nadella?
He actually made more than both of them this year. Cook earned $74.6 million and Nadella earned $79.1 million.
