ASX 100 CEO remuneration increases below inflation

Guerdon Associates analysed ASX 100 CEO equity grant resolutions to determine the extent of remuneration change evident during the 2025 AGM season. The remuneration opportunities and changes year-on-year are current as at the time of each company’s latest AGM.

Summary findings include:

• The median annual increase in fixed remuneration for incumbent CEOs was 2.2% across the ASX 100.
• Maximum total remuneration opportunity, including STI and LTI, increased by 3.0% at the median.
• For context, the Wage Price Index rose by 3.4% over the twelve months to September 2025 (latest available data from the Australian Bureau of Statistics) and is forecast by the Reserve Bank of Australia to increase by 3.1% to June 2026.

The table below sets out summary statistics for increases in total fixed remuneration (TFR) and maximum total remuneration (TR).

Table 1: Annual change in remuneration for ASX 100 same incumbent CEOs

The sample excludes ASX 100 companies incorporated outside of Australia and comprises 73 same incumbent CEOs. 25 incumbent CEOs in the sample (34%) had unchanged total remuneration opportunities year-on-year.

Table 2 summarises the median change in TFR and TR by sector. Excluding sectors with less than 4 observations, the largest median remuneration increases were in the materials sector.

Table 2: Median annual change in remuneration for ASX 100 same incumbent CEOs by GICS sector

In coming newsletters, we will report on other developments from the latest AGM season.