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2026 Filings Show CEO Pay Growth Accelerated at S&P 500 Companies
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    2026 Filings Show CEO Pay Growth Accelerated at S&P 500 Companies

    ISS-Corporate Analysis Finds Equity Drove Increases in CEO Pay

    NEW YORK (April 27, 2026) – ISS-Corporate, a leading provider of robust SaaS and expert advisory services to companies globally, today announced the results of an analysis of CEO pay changes at S&P 500 companies with shareholder meetings on or after January 1, 2026. The study examined 318 companies at which the CEO was in the same role for the current and previous filing years.

    Median CEO pay increased for these large cap companies by 10.6 percent from the 2025 to 2026 filing periods, the analysis found, representing an acceleration from the 7.5 percent rise observed between the 2024 and 2025 filing periods.

    Median CEO pay, meanwhile, stood at $17.7 million. More than 74 percent of S&P 500 CEOs in the study received a pay increase while compensation fell for the remaining 26 percent. For the segment of companies that increased pay for their chief executives, the median change was 15.6 percent, while compensation decreased by a median of 9.5 percent among those companies where pay dropped. Notably, pay increased by more than $10 million for 27 CEOs, and 21 CEOs saw their pay more than double in 2025.

    Driving CEO pay growth were increases in the value of stock and option awards, the study found, which is consistent with other recent years. While the median base salary of $1.4 million reflects a relatively modest increase of 3.2 percent over the previous filing period, the median stock award now stands at $11 million and the median option award (when granted) stands at $3.6 million, representing increases of 10.7 percent and 5.3 percent respectively over award values in the previous year.

    Large cap companies generally demonstrated strong total shareholder returns (TSR) over the measurement period with a median 1-year TSR of 7.5 percent for the subject companies of the analysis (measured at the end of the fiscal year). TSR was positive for both companies that increased pay, who had a median TSR of 9.3 percent, and those that lowered pay, who had a median TSR of 1.3 percent.

    “While most companies delivered positive shareholder returns in 2025, the magnitude of CEO pay increases highlights the degree to which stock and option awards continue to drive compensation decisions,” said Roy Saliba, Managing Director at ISS-Corporate. “In a more uncertain macro environment marked by tariff risk, geopolitical tensions, and softer growth outlooks, investors are likely to scrutinize whether elevated pay outcomes remain well-aligned with long-term performance.”

    On an industry level, Media & Entertainment saw the most drastic increase in CEO compensation, with a median rise of 117.4 percent. The Consumer Discretionary Distribution & Retail industry followed, with a median increase of 29.6 percent. CEO compensation decreased by a median of 11.7 percent for companies in the Consumer Durables & Apparel industry.

    Variations at the industry level show the most notable disparity between median change in CEO pay and median TSR at companies in the same industries that saw the largest increase in pay. Companies in the Media & Entertainment sector had a median negative TSR of 28.6 percent while pay grew by 117.4 percent, and Consumer Discretionary Distribution and Retail companies had a median TSR of 2.3 percent while pay increased by 29.6 percent. Other poor performing industries include Software & Services and Consumer Durables & Apparel, where median TSR decreased by 15.4 percent and 10.7 percent respectively.

    ISS-Corporate is a leading provider of robust SaaS and expert advisory services to companies, globally. ISS-Corporate’s data-driven, research-backed Compass platform empowers businesses to understand and shape the signals they send to institutional investors, regulators, lenders, and other key stakeholders. By delivering essential data, tools, and advisory services, ISS-Corporate can help businesses around the world to be more resilient, align with market demands, and proactively manage governance, compensation, sustainability, and cyber risk initiatives. ISS Corporate Solutions, Inc. (“ISS-Corporate”) is a wholly owned subsidiary of Institutional Shareholder Services Inc. (“ISS”) and part of the ISS STOXX GmbH group of companies. This document and all of the information contained in it, including without limitation all text, data, graphs, charts (collectively, the “Information”) is the property of ISS-Corporate or its affiliates. The Information may not be reproduced or disseminated in whole or in part without prior written permission of ISS-Corporate. ISS-Corporate MAKES NO EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION. ISS-Corporate provides advisory services, analytical tools and publications to companies to enable them to improve shareholder value and reduce risk through the adoption of improved corporate governance practices. The ISS STOXX Governance and Sustainability research teams, which are separate from ISS-Corporate, will not give preferential treatment to, and are under no obligation to support, any proxy proposal of a corporate issuer nor provide a favorable rating, assessment, and/or any other favorable results to a corporate issuer (whether or not that corporate issuer has purchased products or services from ISS-Corporate). No statement from an employee of ISS-Corporate should be construed as a guarantee that ISS STOXX will recommend that its clients vote in favor of any particular proxy proposal or provide a favorable rating, assessment or other favorable result. For more information, please visit https://www.iss-corporate.com

    ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,800 professionals operating across 30 global locations in 20 countries. Its approximately 5,500 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.