PRESENTING: What The CEOs Of The Largest Australian Companies Are Paid

Chief executive officers of listed Australian companies come under huge amounts of public scrutiny, but they’re also paid pretty well for their efforts.

A recent ACSI report put Australia’s the average pay package of an ASX100 CEO at $4.7 million – almost 70 times the average national salary.

Among CEOs of Australia’s 100 largest companies, ACSI found a median fixed salary of $1.95 million and median bonus of $1.06 million – but packages varied widely from company to company.

Business Insider Australia looked at the latest annual reports of the 10 largest ASX-listed firms by market capitalisation to find out what their CEOs were paid last year:

Commonwealth Bank of Australia

Ian Narev has been CEO of the Commonwealth Bank of Australia since December 2011. The bank paid him a total of $7.8 million in the 12 months to 30 June 2013, including bonus payments and a $2.5 million base salary.

According to CBA's executive remuneration model, Narev may earn up to 2.5 times his base salary in bonus payments, which means he could receive a total of up to $8.75 million in an exceptional year.

BHP Billiton

Marius Kloppers was appointed CEO of resources giant BHP Billiton in 2007. He retired and was succeeded by Andrew Mackenzie on 10 May.

BHP Billiton paid Kloppers a total of $US16 million ($A17 million) in the ten-plus months until his retirement, comprising a $US2.7 million base salary and superannuation, and more than $US10 million in long-term incentives.

Mackenzie was paid a total of $US2.47 million ($A2.6 million) in his 7 weeks as CEO, including a base salary plus superannuation of $US302,000.


Gail Kelly was appointed Westpac CEO in 2008, after working her way up through the ranks in teller, human resources, marketing, and customer service roles in South African and Australian banks.

Westpac's financial year ends on 30 September and has yet to release figures for the 2013 financial year.

Westpac paid Kelly a total of $9.6 million in the 2012 financial year, including a fixed salary and superannuation of $3.03 million.

National Australia Bank

NAB also operates on a 1 November - 30 September financial year, with its annual report due out in November.

Cameron Clyne has been CEO since 2009. He was paid a total of $8.78 million in the 2012 financial year, including a base salary and superannuation of $2.39 million.

ANZ Group

Mike Smith was appointed CEO of the ANZ Banking Group in 2007, and has pushed the bank to expand in Asia in an ambitious 'Super Regional' strategy.

He was the best-paid Australian bank boss last year, taking home a total of $10.1 million, including a $3.15 million fixed salary.


Dr Brian McNamee was CEO of biotechnology firm CSL for 23 years until July, leading the company through its privatisation and 1994 IPO.

He was paid a total of $19.6 million in his final year as CSL's CEO, including a cash salary and superannuation of $3.44 million, and $2.91 million in termination payments.

McNamee was succeeded by CSL Behring President Paul Perreault.


David Thodey was appointed CEO of Australia's largest telco in 2009.

According to Telstra's latest annual report, Thodey was paid a total of $9.64 million including bonuses and almost $10,000 in 'non-monetary benefits' in the 12 months to 30 June, after a 8.7% rise in his fixed annual salary to $2.65 million in October.


One-time supermarket shelf-stacker Grant O'Brien has been CEO of Woolworths since October 2011.

He was paid a total of $4.77 million in the 12 months to 30 June 2013, including bonuses and $2.16 million in salary, superannuation and other allowances. Under Woolworth's remuneration model, O'Brien may be paid up to $6.45 million in salary and bonuses.

Westfield Group

Shopping centre group Westfield was founded by Frank Lowy and John Saunders in 1960 and is currently led by Lowy's two sons, Steven and Peter, who are co-CEOs.

In the 12 months to 31 December 2013, US-based Peter Lowy was paid a total of $US8.92 million ($A9.45 million), including a base salary of $US2.5 million, while Steven Lowy was paid $A9.41 million, including a base salary of $A2.5 million.

Now read: What Some Of Australia’s Chairmen Earned In A Year For Being The Boss Of A Board

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