Tuck | Mr. Invest In Change
GMAT 710, GPA 3.1
Tuck | Mr. Chemical Engineer
GRE 326, GPA 3
INSEAD | Mr. Future AI Product Manager
GMAT 715, GPA 3.7
NYU Stern | Mr. Operations Strategy & Youth Leadership
GMAT 770, GPA 4
IE Business School | Mr. JD Garay
GRE GPA: 3.9, GPA 3.0
Kellogg SOM | Mr. Military To Entrepreneur
GMAT 745, GPA 2.38
London Business School | Mr. Decarbonisation
GMAT 695, GPA 3.5
Kellogg SOM | Mr. MENA Growth Equity
GMAT 730, GPA 3.4
Kellogg SOM | Mr. West Point Logistics
GRE 327, GPA 2.76
Harvard | Mr. Energy & AI PM
GRE 328, GPA 9.65
Tepper | Mr. Tech Mil-Veteran
GMAT TBD, GPA 3.35
Columbia | Mr. European MBB Consultant
GMAT 645 (Gmat Focus), GPA 8.2
MIT Sloan | Mr. Startup Strategy
GMAT 720, GPA 3.7
Stanford GSB | Mr. Mid-Market PE
GMAT 770, GPA 4
Stanford GSB | Mr. MBB Guy From Big 4 & Startup
GRE 325, GPA 3

The Most Overpaid MBA CEOs

by: Marc Ethier on November 22, 2023 | 14 minute read

AS YOU SOW’S 100 MOST OVERPAID CEOs OF 2023 & WHETHER THEY EARNED A B-SCHOOL DEGREE

As You Sow Most Overpaid Rank Company CEO Business Degree? CEO Pay Amount of

Overpay – As You Sow

 CEO:Worker

Pay Ratio

 Median

Worker Pay
1 Live Nation Entertainment, Inc. Michael Rapino Bachelor’s of Administration – Lakehead University $139,005,565 $123,765,001 5414:1 $25,673
2 Oracle Corporation Safra A. Catz Bachelor’s – Wharton; Lecturer in accounting at Stanford GSB $138,192,032 $122,500,250 1842:1 $75,043
3 Alphabet Inc. Sundar Pichai MBA – Wharton $225,985,145 $210,613,728 808:1 $279,802
4 American International Group, Inc. Peter Zaffino MBA – Stern $75,314,199 $60,519,535 894:1 $84,240
5 Western Digital Corporation David V. Goeckeler MBA – Haas/Columbia $32,137,338 $18,068,125 3332:1 $9,644
6 American Express Company Stephen J. Squeri MBA – Manhattan College $48,029,631 $32,793,343 972:1 $49,409
7 Netflix, Inc. Reed Hastings & Ted Sarandos No $101,372,533 $86,644,903 464:1 $218,400
8 Ingersoll Rand Inc. Vicente Reynal No $54,505,957 $39,080,237 837:1 $65,098
9 Simon Property Group, Inc. David Simon Bachelor’s; MBA – Columbia $35,667,783 $21,166,438 538:1 $66,313
10 Charter Communications, Inc Thomas M. Rutledge No $39,213,350 $24,382,217 707:1 $55,429
11 Prologis, Inc. Hamid Moghadam MBA – Stanford $48,152,756 $32,811,350 403:1 $119,453
12 Copart, Inc. A. Jayson Adair & Jeffrey Liaw Liaw: BBA Texas-Austin; MBA – Harvard … Adair: No $31,298,740 $15,453,717 751:1 $41,662
13 Broadcom Inc. Hock E. Tan MBA – Harvard $60,606,971 $44,545,639 338:1 $179,156
14 NVR, Inc. Paul C. Saville BBA – College of William & Mary; MBA – Pittsburgh $42,887,000 $27,506,477 600:1 $71,500
15 Equifax Inc. Mark W. Begor BS in Finance & Marketing; MBA – Rensselaer Polytechnic $37,255,853 $21,977,967 347:1 $107,256
16 Paramount Global Robert M. Bakish MBA – Columbia $32,046,006 $18,290,773 291:1 $110,221
17 Caesars Entertainment, Inc. Thomas R. Reeg BBA in Finance – Notre Dame $31,349,920 $16,480,026 865:1 $36,252
18 NIKE, Inc. John J. Donahoe II MBA – Stanford $28,838,060 $13,860,498 771:1 $37,410
19 Walmart Inc. C. Douglas McMillon BBA – University of Arkansas; MBA – University of Tulsa $25,306,714 $10,018,299 933:1 $27,136
20 Micron Technology, Inc. Sanjay Mehrotra Stanford GSB Executive Program $28,840,809 $14,037,166 597:1 $48,310
21 Apple Inc. Timothy D. Cook MBA – Duke $99,420,097 $83,231,979 1177:1 $84,493
22 Marsh & McLennan Companies, Inc. Daniel S. Glaser HBS Advanced Management Program $30,924,436 $15,410,444 454:1 $68,138
23 Estee Lauder Companies Inc. Fabrizio Freda Bachelor’s in Economics & Business Administration – University of Naples Federico II $25,480,056 $10,506,855 872:1 $29,236
24 Bath & Body Works Inc Sarah E. Nash No $22,795,013 $7,851,648 2137:1 $10,669
25 Warner Bros. Discovery, Inc. David M. Zaslav No $39,288,458 $25,348,760 227:1 $172,735
26 Norwegian Cruise Line Holdings Ltd. Frank J. Del Rio BS in Accounting – University of Florida $21,209,333 $7,261,395 866:1 $24,484
27 Lennar Corporation Richard Beckwitt & Jonathan M. Jaffe Beckwitt: Unknown … Jaffe: No $60,480,031 $44,942,913 578:1 $104,556
28 Fidelity National Information Services, Inc. Gary A. Norcross BS in Business Administration & Management – University of Arkansas $45,321,374 $31,170,441 724:1 $62,591
29 NextEra Energy, Inc. James L. Robo MBA – Harvard (Baker Scholar) $40,406,018 $25,122,359 286:1 $141,446
30 IQVIA Holdings Inc. Ari Bousbib MBA – Columbia $30,135,029 $14,698,024 293:1 $102,805
31 Bank of America Corporation Brian T. Moynihan No $30,177,503 $15,428,227 258:1 $117,040
32 TransDigm Group Incorporated Kevin Stein No $21,484,504 $5,793,195 365:1 $58,837
33 Illumina, Inc. Francis A. deSouza No $26,752,197 $12,492,511 205:1 $130,653
34 ServiceNow, Inc. William R. McDermott MBA – Kellogg $38,502,528 $22,645,470 174:1 $221,433
35 Halliburton Company Jeffrey A. Miller BS in Agriculture and Business – McNeese State University; MBA – Texas A&M $23,402,317 $9,006,161 290:1 $80,638
36 Salesforce, Inc. Marc Benioff & Bret Taylor Benioff: BSBA in Entrepreneurship – USC … Taylor: No $53,585,596 $38,543,495 269:1 $199,130
37 Booking Holdings Inc. Glenn D. Fogel BS in Economics & Finance – Wharton $30,774,922 $15,883,717 404:1 $76,175
38 Analog Devices, Inc. Vincent Roche No $22,098,295 $6,702,777 544:1 $40,596
39 Thermo Fisher Scientific Inc. Marc N. Casper Bachelor’s in Finance – Wesleyan; MBA – Harvard $28,208,909 $12,637,231 363:1 $77,806
40 Monolithic Power Systems, Inc. Michael Hsing No $20,664,936 $4,522,100 468:1 $44,194
41 D.R. Horton, Inc. David V. Auld BBA in Accounting – Texas Tech $29,996,862 $14,212,438 259:1 $116,088
42 Hilton Worldwide Holdings Inc Christopher J. Nassetta BS in Finance – Virginia McIntire $23,532,938 $8,300,522 539:1 $43,702
43 Align Technology, Inc. Joseph M. Hogan BS in Business and Economics – Geneva College; MBA – Robert Morris $18,684,044 $4,036,789 1026:1 $18,215
44 Match Group, Inc. Bernard Kim No $23,921,211 $8,254,994 189:1 $129,000
45 Biogen, Inc Christopher A. Viehbacher Bachelor’s in Commerce – Queen’s University $30,488,593 $15,889,645 182:1 $186,983
46 CVS Health Corporation Karen S. Lynch Bachelor’s in Accounting – Boston College; MBA – Boston University $21,317,055 $6,499,111 380:1 $56,129
47 PayPal Holdings, Inc. Daniel H. Schulman MBA – NYU Stern $21,957,922 $7,543,241 284:1 $77,244
48 DuPont de Nemours, Inc. Edward D. Breen No $25,584,297 $11,110,089 294:1 $86,886
49 JPMorgan Chase & Co. James Dimon MBA – Harvard (Baker Scholar) $34,848,606 $19,793,896 393:1 $88,730
50 Monster Beverage Corporation Rodney C. Sacks & Hilton H. Schlosberg Sacks: No … Schlosberg: No $30,811,484 $15,500,199 419:1 $73,523
51 Cadence Design Systems, Inc. Anirudh Devgan No $32,216,034 $15,728,495 292:1 $110,482
52 Exxon Mobil Corporation Darren W. Woods MBA – Kellogg $35,909,231 $20,894,991 210:1 $171,582
53 V.F. Corporation Steven E. Rendle No $15,423,154 $1,643,400 576:1 $26,784
54 Advanced Micro Devices, Inc. Lisa T. Su No $30,219,921 $13,274,694 224:1 $134,843
55 Texas Instruments Incorporated Richard K. Templeton No $21,629,586 $6,425,743 323:1 $67,144
56 Walgreens Boots Alliance Inc Rosalind G. Brewer Exec Ed programs at Booth, Stanford, Wharton $17,287,489 $3,082,726 705:1 $24,530
57 T-Mobile US, Inc. Michael Sievert No $29,060,047 $13,585,978 408:1 $71,333
58 CME Group Inc. Terrence A. Duffy No $22,943,077 $8,056,266 139:1 $164,792
59 Coca-Cola Company James Quincey No $22,822,519 $7,770,457 1883:1 $12,122
60 Ralph Lauren Corporation Patrice Louvet MBA – ESCP Europe; MBA – University of Illinois $18,553,058 $3,873,929 696:1 $26,670
61 Digital Realty Trust, Inc. A. William Stein MSIA – Carnegie Mellon Tepper $23,695,471 $8,886,497 230:1 $103,040
62 PepsiCo, Inc. Ramon L. Laguarta MBA – Esade; MiM, International Business – Thunderbird $28,388,228 $13,138,113 543:1 $52,315
63 Aptiv PLC Kevin P. Clark Bachelor’s in Finance and Master’s in Business Administration & Management – Michigan State Broad $16,206,621 $1,474,234 1991:1 $8,139
64 Cisco Systems, Inc. Charles H. Robbins No $29,283,936 $14,364,855 249:1 $117,400
65 Omnicom Group Inc John D. Wren MBA – Adelphi University $20,679,168 $5,722,289 414:1 $50,002
66 Microsoft Corporation Satya Nadella MBA – Chicago Booth $54,946,310 $38,982,039 289:1 $190,302
67 Global Payments Inc. Jeffrey S. Sloan BS in Finance – Wharton $22,270,578 $7,736,896 385:1 $57,883
68 Equinix, Inc. Charles Meyers MBA – Kellogg; MS in Engineering Management – Northwestern $22,282,928 $6,999,497 183:1 $121,753
69 Skyworks Solutions, Inc. Liam K. Griffin MBA – Boston Questrom $16,667,162 $1,839,293 552:1 $30,180
70 PNC Financial Services Group, Inc. William S. Demchak MBA – Michigan Ross $19,473,490 $4,757,409 276:1 $70,695
71 International Flavors & Fragrances Inc. Franklin K. Clyburn Jr. MBA – Arizona State $19,271,654 $4,896,662 341:1 $56,582
72 Keurig Dr Pepper Inc. Ozan Dokmecioglu BBA – Middle East Technical University $16,663,492 $1,487,218 295:1 $56,503
73 Cognizant Technology Solutions Corporation Brian Humphries BBA – University of Ulster $17,943,894 $3,438,942 571:1 $31,450
74 Meta Platforms, Inc. Mark Zuckerberg No $27,110,418 $12,116,455 91:1 $296,320
75 Accenture plc Julie Sweet No $33,701,108 $18,398,069 1506:1 $22,381
76 Dollar Tree, Inc. Michael Witynski BBA – Benedictine University $13,975,672 -$1,154,779 951:1 $14,702
77 The Boeing Company David L. Calhoun Bachelor’s in Accounting – Virginia Tech $22,480,396 $8,222,146 154:1 $145,756
78 ANSYS, Inc. Ajei S. Gopal No $21,872,498 $6,620,559 187:1 $116,670
79 Adobe Inc. Shantanu Narayen MBA – UC-Berkeley Haas $31,600,311 $16,288,635 185:1 $170,679
80 Molina Healthcare, Inc. Joseph M. Zubretsky BBA – University of Hartford $22,131,256 $6,341,820 293:1 $75,433
81 Cigna Corporation David M. Cordani BBA – Texas A&M; MBA – University of Hartford $20,965,504 $5,818,210 277:1 $75,627
82 Ford Motor Company James D. Farley Jr. MBA – UCLA Anderson $20,996,146 $5,919,863 281:1 $74,691
83 Ameriprise Financial, Inc. James M. Cracchiolo BS in Accounting and Economics and MBA – NYU Stern $22,847,623 $7,281,909 183:1 $125,033
84 Globe Life Inc. Gary L. Coleman & Larry M. Hutchison Coleman: BBA – University of Texas-Austin; Hutchison: No $17,776,636 $2,841,335 283:1 $62,883
85 Fortive Corp. James A. Lico Master in Management – Kellogg $16,611,190 $1,837,016 246:1 $67,554
86 CBRE Group, Inc. Robert E. Sulentic MBA – Harvard $25,912,100 $10,780,192 361:1 $71,748
87 Travelers Companies, Inc. Alan D. Schnitzer No $21,072,397 $6,022,774 194:1 $108,583
88 Abbott Laboratories Robert B. Ford MBA – UC-Berkeley Haas $21,722,152 $6,457,878 214:1 $101,360
89 BlackRock, Inc. Laurence D. Fink MBA – UCLA $32,726,109 $17,686,333 212:1 $154,312
90 Philip Morris International Inc. Jacek Olczak No $15,775,108 $760,216 813:1 $19,411
91 Visa Inc. Alfred F. Kelly Jr. MBA – Iona University $28,103,602 $12,882,029 184:1 $152,395
92 Starbucks Corporation Kevin Johnson BBA – New Mexico State $16,718,154 $1,302,708 1364:1 $12,254
93 AbbVie, Inc. Richard A. Gonzalez No $26,287,185 $11,136,825 224:1 $117,189
94 Comcast Corporation Brian L. Roberts Bachelor of Science – Wharton $32,069,850 $17,122,558 385:1 $83,399
95 Viatris Inc Michael Goettler Business degree – WHU Otto Besheim School of Management; MBA – Texas-Austin McCombs $14,669,592 $1,036,936 398:1 $36,865
96 Carnival Corporation and PLC Arnold W. Donald MBA – Chicago Booth $11,144,435 -$2,672,044 769:1 $14,496
97 Seagate Technology Holdings plc William D. Mosley No $13,210,318 -$1,680,561 1227:1 $10,763
98 Trimble Inc. Robert G. Painter BS in Finance – West Virginia University; MBA – Harvard $16,134,366 $1,051,436 209:1 $77,178
99 Fox Corporation Lachlan K. Murdoch No $21,748,681 $6,529,177 237:1 $91,803
100 Archer-Daniels-Midland Company Juan R. Luciano No $24,749,178 $9,544,980 362:1 $68,383
Source: As You Sow Top 100 Most Overpaid CEOs, 2023. Sources for MBA info: LinkedIn, Wikipedia, various business sites

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