Swiss CEO salaries rose by 7% in 2024

Flemming Ornskov, head of the American-Swiss pharmaceutical company Galderma, was the highest paid CEO in 2024, earning CHF19 million. Keystone-SDA

The salaries of Swiss company bosses soared last year, according to a study by the Ethos Foundation. Swiss chief executive officers (CEOs) are among the best paid in Europe, while board chairpersons earn some of the highest salaries in the world.

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According to the Ethos studyExternal link published on Thursday, the bosses of companies listed on the Swiss stock exchange earned on average CHF8.3 million ($10.2 million) last year, an increase of 7.4% compared to 2023.

The increase is mainly explained by the variable part of their salary package (bonuses, shares, or options), often linked to stock market performance. Since the Covid-19 pandemic, salaries have started to rise again, reaching their pre-2014 level.

The bosses of small- and medium-sized companies listed on the SPI (Swiss Performance Index) also saw their remuneration increase. On average, CEOs of small businesses earned CHF1.5 million last year (+5.5% compared to 2023), while those of medium-sized businesses took home CHF4.3 million (+37.4%).

Shareholder approval

In Switzerland, the bosses of the 20 top companies listed on the SMI are among the highest paid in Europe, behind their counterparts in the United States, Canada, and UK. Swiss board chairpersons are among the highest paid in the world.

While executive pay remains the most controversial issue at annual general meetings, criticism seems to be waning, with shareholders increasingly approving large compensation packages.

Translated from French by DeepL/sb

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