Record High Salaries for German Top Executives Despite Economic Slowdown

German corporate executives saw an average salary increase of 11% in 2023, reaching new heights even as company revenues and profits stagnated.

The average annual compensation for executives in Germany's top 160 publicly traded companies rose to 2.65 million euros, including bonuses.
CEO salaries saw an even sharper increase of 16%, averaging 3.7 million euros, with Volkswagen's CEO earning over 10 million euros.
Despite economic challenges, some companies reported significant profits, contributing to the rise in executive pay.
The gender pay gap in executive roles narrowed, with male executives' salaries increasing by 9%, surpassing their female counterparts for the first time since 2015.
Compensation is increasingly tied to sustainability targets, reflecting a shift in how executive performance is evaluated beyond financial metrics.