The World Tour of Executive Pay: From Tokyo to Texas, the C-Suite Knows No Borders
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March 24, 2025
Written by Frank Glassner, CEO Veritas Executive Compensation Consultants
There’s something oddly universal about executive compensation: no matter the language, culture, or GDP, CEOs everywhere are still figuring out how to get paid—and how to make sure someone else signs off on the bill. From the pinstriped boardrooms of London to the steely skyscrapers of Seoul, the pursuit of the perfect pay package is a global phenomenon that’s equal parts high finance, political theater, and dark comedy.
Let’s take a quick—and hopefully entertaining—jaunt around the world of executive pay, with a few cautionary tales, cultural quirks, eyebrow-raising anecdotes, and some truly obscure and obscene examples that show just how far (and how hilariously, or tragically) we’ve come.
United States: Go Big or Go Home
In the U.S., the motto is simple: if you’re not paying your CEO tens of millions, are you even trying? Median pay for an S&P 500 CEO clocks in around $15 million a year—and that’s before stock option gains and side perks. We’ve seen CEOs walk away with payouts larger than the GDP of small island nations.
In one now-legendary case, a Fortune 100 CEO earned over $100 million in the same year his company’s stock dropped by 30%
Tragic? Maybe. Capitalism? Absolutely.
Japan: Modesty is a Virtue (Until It Isn’t)
Japanese executives have long been known for their restraint. The average CEO in Japan earns a fraction of what their American counterpart makes—often under $1 million annually. But before you think it’s all sushi and humility, note that when Nissan’s Carlos Ghosn was arrested for allegedly underreporting income, it ignited a scandal so juicy it felt ripped from a John Grisham novel.
Honor, shame, and the occasional private jet escape—Tokyo-style.
Germany: Co-Determination and Compensation
In Germany, pay is kept in check by a powerful system of worker representation on boards. This means that while CEOs earn well, they tend to do so with one eye on the factory floor and another on their supervisory board. But let’s not pretend restraint is universal: Deutsche Bank once paid out bonuses larger than its profits—yes, really.
Efficiency, meet irony.
France: The Revolution Still Pending
The French have never been shy about revolting—just ask Louis XVI. Executive pay in France is often a lightning rod for public anger. CEOs who take home "too much" (“les rémunérations obscènes” [obscene compensation]) risk being hauled into political debates or worse, having their stock options taxed into oblivion (up to 66.2%). But despite the outrage, the big checks still get signed—usually with a shrug and a glass of Bordeaux.
Liberté and égalité wrapped in bureaucracy, with a side of foie gras.
UK: Politeness, Pay Caps, and Pension Scandals
In Britain, CEO pay is often debated in Parliament - usually between sips of tea. The Brits love a good outrage headline, and when former RBS chief Fred Goodwin walked away with a fat pension after helping tank the bank, the pitchforks came out. Yet London remains a global pay hub—just with better tailoring and passive-aggressive shareholder letters.
Remain calm and earn on.
China: State Control Meets Capitalist Dreams
In China, executive pay is a mix of strict state oversight and quiet ambition. State-owned enterprises cap CEO salaries—sometimes under $150,000. But in the private tech world? It’s a different universe. Think billionaire founders, sprawling bonus plans, and mysterious executive disappearances that make you wonder if a pay cut might have been safer after all.
Work hard, get paid, vanish quietly.
Canada and Australia: The Sensible Middle
Our friends in Canada and Australia generally play it safe. CEOs make millions, sure, but nothing too outrageous by U.S. standards. There’s oversight, transparency, and the occasional scandal just to keep things interesting. Bonus points to Canada for once publishing an annual “Top 100 CEO Compensation” list—like the Oscars, but with fewer speeches and more Excel sheets.
Mild manners, major money.
Brazil: Samba, Scandal, and Severance
In Brazil, executive pay often dances the fine line between ambition and absurdity. With sky-high inflation and a history of corporate corruption, some CEOs have been accused of earning “hazard pay” just for surviving board meetings. One oil company chief received a multimillion-dollar bonus while the company was under federal investigation.
Carnaval on the balance sheet.
South Africa: Boardrooms and the Bottom Line
In South Africa, the contrast is stark. Some CEOs earn U.S.-level salaries while leading companies in economies where the wage inequality is staggering. One mining executive was paid more than 1,000 times the average worker’s salary, igniting national protests.
Diamonds, dollars, and do as we say, not as we do.
India: Rupees, Rewards, and Reputation
India’s top executives can command serious compensation—especially in the private tech and telecom sectors. But with it comes a cultural expectation of modesty. Lavish paychecks often get quietly justified as “performance-linked” while public outrage simmers just below the surface.
Blessed are the stock options, for they shall inherit the wealth.
Russia: Oligarchs, Oil, and Overcompensation
Executive pay in Russia is less about base salary and more about influence, assets, and sometimes owning the company outright. When you're the CEO and also the majority shareholder of a gas empire, compensation becomes a murky mix of dividends, dachas, and diplomatic immunity. One tycoon reportedly received a year-end “bonus” in the form of a Black Sea villa previously owned by a rival.
Profit with a side of palace intrigue.
The Obscure and the Obscene:
Executive Pay You’ve Never Heard Of (But Won’t Forget)
Kazakhstan: One energy executive reportedly received a custom-built armored SUV and lifetime use of a private falconry lodge as part of his “retention bonus.” - Because apparently, nothing says loyalty like luxury bird hunting.
Nigeria: The CEO of a state-run oil company awarded himself a $15 million bonus during a year of environmental catastrophe and infrastructure collapse. - Public outrage was swift, and then mysteriously silenced.
Iceland: One banker funneled his bonuses through offshore accounts tied to a cousin’s reindeer farm. - Yes, really.
Philippines: A beachfront resort labeled as a “training facility” became a CEO’s golden goodbye. - Surf's up, and so is the audit.
Ukraine: A CEO vanished into the Carpathians with a bonus equal to seven years of average wages—along with the HR director. - A scandal with subtitles and a soundtrack.
Qatar: A CEO was given a $3.2 million diamond watch that only worked within range of his office. - Time is money, and sometimes it only ticks when you're at work.
Final Boarding Call
Executive compensation may be global, but it’s anything but standardized. It reflects a country’s values, corporate structure, and, often, its tolerance for outrage—or apathy. Whether you believe CEOs are modern-day gladiators - or overpaid figureheads, one thing’s clear: the world is watching - often with popcorn in hand.
So next time you read about a CEO earning $50 million, remember: somewhere in Japan, a chief executive just turned down a raise out of modesty. And somewhere in Kazakhstan, another one is selecting falcons for his weekend bonus hunt.
Same planet. Different playbooks.
FBG
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Frank Glassner is the CEO of Veritas Executive Compensation Consultants and a widely respected authority on executive pay and strategic compensation design. Known for his discerning judgment, consummate diplomacy, incisive insights, and unwavering discretion, he is a trusted advisor and confidant to boards, CEOs, and institutional investors worldwide.
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