Unveiled: The Exact Salaries of Leading CEOs in Prominent German Corporations
In 2024, CEOs of Germany's largest companies, as listed on the DAX, earned an average of around €6.3 million. This figure was significantly higher than the average gross annual salary in Germany for full-time employees, which was roughly €52,300. The highest-earning CEOs were Volkswagen's Oliver Blume and Adidas's Bjørn Gulden, with €10.6 million and €10.3 million respectively. Two of these CEOs exceeded the €10 million 'Schallmauer' limit in 2024.
The 'Schallmauer' limit, a guideline intended to preserve social peace and transparency, is enforced through shareholder votes and public scrutiny, not fines or official sanctions. It is monitored by the German Shareholder Protection Association (DSW). In 2024, Deutsche Bank CEO Christian Sewing remained just below the limit with €9.9 million.
In Switzerland, CEOs at major companies received bumper pay increases of around 18 percent on average in 2024. The CEOs of the 39 largest Swiss corporations earned an average of 143 times more than their lowest-paid employees. The most striking example is Basel-based pharmaceutical multinational Novartis.
Almost three-quarters of Blume's remuneration came from long-term bonuses, despite a significant fall in the share prices of Volkswagen and Porsche in 2024. Porsche is set to leave the DAX index on September 22nd, following a significant drop in the company's share price.
In Germany, a CEO's annual income is usually made up of fixed base pay, short-term variable bonuses, and long-term incentives, usually linked to stock performance and company goals. The exact balance between fixed and variable remuneration varies from company to company. In 2024, maximum remuneration levels set by DAX companies averaged €10.4 million.
In 2025, major German trade unions, including IG Metall and Verdi, have focused on securing wage increases for regular employees and raising minimum salaries, rather than addressing top executive remuneration. The average annual salary of German CEOs in 2025, specifically those of DAX companies, is approximately 5.747 million euros, significantly higher than other board members, reflecting the top leadership compensation in large German companies. The average board member salary across the DAX was €3.76 million - up 3 percent from the previous year.
At Adidas, the CEO out-earned his employees by as much as 95 times, while at Siemens Energy it was just 13 times more. In Switzerland, the average CEO's income was not disclosed in the provided information.
The 'Schallmauer' was being eroded in 2024, according to CEO Marc Tüngler of the German Shareholder Protection Association (DSW). This erosion, however, did not seem to affect the overall trend of increasing CEO compensation compared to average employee wages.
Read also:
- Strategizing the Integration of Digital Menus as a Core Element in Business Operations
- Financial Actions of BlockDAG Following Inter and Borussia Agreements: Anticipating Future Steps
- International powers, including France, Germany, and the UK, advocate for the reinstatement of sanctions against Iran.
- Companies urged to combat employee resignation crisis, as per findings from the Addeco Group
