The highest paid CEOs in the ASX 200

The size of pay cheques for ASX 200 chief executive officers is often a contentious debate.

Does anyone deserve millions of dollars per year when the Australian Prime Minister doesn't even take home seven figures?

Or is it fair enough that people with business acumen and cerebral aptitude rake in as much money each year as celebrities and sporting heroes?

Regardless of your opinion, it can't be denied that the leaders of our biggest public companies have a huge influence on the wealth of millions of Australians.

The Motley Fool readers likely own some shares directly, but even those who don't, have some skin in the game through their superannuation accounts.

With one big mistake or one genius move, ASX 200 CEOs can make or break our portfolios, let alone the employment of thousands of Australians.

CEO pay inflation is slowing

The Australian Council of Superannuation Investors (ACSI) this month released its analysis regarding the remuneration of the S&P/ASX 200 (ASX: XJO) CEOs.

ACSI Chief Executive, Louise Davidson, said that scrutiny from her organisation and other investors had slowed the inflation of executive pay packets. She commented, "More boards are using sensible discretion to rein in outcomes for senior executives – demonstrated by the fact that 25 CEOs had their bonuses zeroed out where performance was not adequate, compared with only seven a year earlier."

The upheaval this year created by the COVID-19 pandemic will challenge management teams right across the ASX 200.

"…people at every level of society have been wrestling with unprecedented changes to their work – for those who have kept their jobs – financial pain, isolation and family dislocations," said Davidson.

She went on to say, "Against this backdrop, boards of ASX 200 companies will need to be mindful this year of how remuneration outcomes will be perceived externally, given the widespread impact of the pandemic on investors, staff, customers, governments and other key stakeholders."

The 20 highest paid ASX 200 CEOs

ACSI compiled a league table of the highest paid ASX 200 CEOs by using a 'realised pay' metric. That's the value of cash and equities actually received, rather than the accounting numbers shown in annual reports.

• IDP Education Ltd (ASX: IEL) chief, Andrew Barkla, set a new record for the highest pay in the history of the report, taking home $37.76 million.
• CSL Limited (ASX: CSL) boss, Paul Perreault, pocketed $30.5 million to rank second, with a significant gap to the third highest pay packet.
• Qantas Airways Limited (ASX: QAN) chief, Alan Joyce, who has featured prominently in the public consciousness during the Covid-19 pandemic, came in 8th with a pay packet of $12.2 million.
• Macquarie Group Ltd (ASX: MQG) chief, Shemara Wikramanayake, was not eligible for the table as she took over the position from Nicholas Moore in the middle of the company's 2019 financial year.

On that note, let's take a look at the top 20 chief executive 'realised' pay packets for their company's 2019 financial year:

Data Source: Australian Council of Superannuation Investors, Table created by Author

Foolish takeaway

As a shareholder, how you interpret these salaries is up to you.

Do you think these particular chief executives have provided value in return for the level of remuneration received?