Remuneration of Boards of Directors and Executive Management in State-Owned Enterprises
![](/adobe/dynamicmedia/deliver/dm-aid--d0819a92-08da-4b39-837a-ad8a6f39fc99/80d6dc04-en.jpg?preferwebp=true&quality=80)
Annex B. Actual remuneration levels of supervisory board members according SOEs’ orientation and size
Actual remuneration levels of supervisory board members (or non-executive directors)
Table A B.1. Average annual remuneration of supervisory board members of commercially oriented SOEs
Shown in actual USD, and (as a percentage of average annual wages)
Country |
Board chair |
Board vice chair |
Ordinary board member |
||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Large SOEs |
Medium SOEs |
Small SOEs |
Average total |
Large SOEs |
Medium SOEs |
Small SOEs |
Average total |
Large SOEs |
Medium SOEs |
Small SOEs |
Average Total |
||
Austria |
35 444 (67%) |
N/A |
N/A |
29 536 (56%) |
N/A |
N/A |
23 629 (44%) |
N/A |
N/A |
||||
Brazil1 |
9 694 (162%) |
N/A |
6 688 (112%) |
9 148 (153%) |
9 694 (162%) |
N/A |
6 688 (112%) |
9 148 (153%) |
9 694 (162%) |
N/A |
6 688 (112%) |
9 148 (153%) |
|
Bulgaria |
28 610 (345%) |
N/A |
20 211 (244%) |
25 250 (304%) |
N/A |
N/A |
N/A |
N/A |
|||||
Chile2 |
67 418 (252%) |
46 467 (174%) |
48 271 (181%) |
54 052 (202%) |
39 234 (147%) |
27 511 (103%) |
27 344 (102%) |
31 363 (117%) |
37 649 (141%) |
24 660 (92%) |
25 205 (94%) |
29 171 (109%) |
|
Costa Rica |
N/A |
N/A |
N/A |
N/A |
10 854 (97%) |
16 152 (145%) |
10 337 (93%) |
12 448 (112%) |
10 854 (97%) |
16 152 (145%) |
10 337 (93%) |
12 448 (145%) |
|
Croatia |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
|
Czech Republic3 |
28 987 (97%) |
19 154 (64%) |
9 880 (33%) |
19 340 (65%) |
22 370 (75%) |
14 168 (47%) |
8 528 (29%) |
15 007 (50%) |
20 273 (68%) |
10 859 (36%) |
7 690 (26%) |
12 955 (43%) |
|
Estonia4 |
22 020 (72%) |
12 760 (42%) |
17 390 (57%) |
N/A |
N/A |
N/A |
N/A |
10 699 (35%) |
6 557 (21%) |
9 215 (30%) |
|||
Finland |
34 498 (75%) |
20 849 (45%) |
|||||||||||
France5 |
N/A |
N/A |
N/A |
94 518 (207%) |
N/A |
N/A |
N/A |
26 630 (58%) |
N/A |
N/A |
N/A |
26 630 (58%) |
|
Iceland |
56 235 (83%) |
27 992 (41%) |
16 678 (25%) |
27 414 (41%) |
35 629 (54%) |
13 945 (21%) |
8 279 (12%) |
15 164 (22%) |
30 539 (45%) |
13 945 (21%) |
8 279 (12%) |
12 020 (18%) |
|
Ireland |
19 560 (40%) |
11 126 (22%) |
|||||||||||
Korea |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
23 487 (56%) |
|
Latvia |
41 852 (140%) |
35 385 (118%) |
N/A |
38 619 (129%) |
39 804 (133%) |
N/A |
N/A |
39 804 (133%) |
37 668 (126%) |
31 852 (107%) |
N/A |
34 760 (116%) |
|
Lithuania6 |
24 125 (76%) |
15 299 (48%) |
11 650 (37%) |
18 241 (57%) |
N/A |
N/A |
N/A |
N/A |
16 829 (53%) |
9 768 (62%) |
3 884 (12%) |
10 592 (33%) |
|
Netherlands6 |
52 279 (8%) |
43 184 (73%) |
22 962 (39%) |
44 873 (76%) |
38 641 (66%) |
31 252 (53%) |
N/A |
34 946 (59%) |
38 641 (66%) |
30 691 (52%) |
18 756 (33%) |
26 696 (45%) |
|
New Zealand |
67 594 (149%) |
47 576 (105%) |
30 315 (67%) |
48 520 (107%) |
42 312 (93%) |
29 761 (66%) |
18 963 (42%) |
30 345 (67%) |
33 854 (75%) |
23 803 (53%) |
15 168 (34%) |
24 275 (54%) |
|
Norway |
50 166 (90%) |
37 639 (67%) |
25 330 (45%) |
38 555 (69%) |
32 159 (58%) |
21 574 (39%) |
12 519 (22%) |
23 410 (42%) |
26 463 (47%) |
18 219 (33%) |
14 353 (23%) |
19 341 (35%) |
|
Portugal7 |
31 331 (110%) |
26 631 (94%) |
25 065 (88%) |
27 673 (97%) |
28 206 (99%) |
23 977 (84%) |
22 568 (79%) |
24 919 (88%) |
25 076 (88%) |
21 314 (75%) |
20 060 (71%) |
22 150 (78%) |
|
Slovak Republic8 |
9 767 (41%) |
3 635 (15%) |
8 872 (38%) |
7 712 (33%) |
10 073 (43%) |
N/A |
N/A |
10 073 (43%) |
6 728 (28%) |
2 631 (11%) |
6 193 (26%) |
5 184 (22%) |
|
Sweden |
56 879 (121%) |
35 622 (76%) |
17 811 (38%) |
36 196 (77%) |
N/A |
N/A |
N/A |
N/A |
26 429 (56%) |
17 236 (37%) |
8 732 (19%) |
17 121 (36%) |
|
Turkey |
16 150 (273%) |
8 075 (137%) |
8 075 (137%) |
Note: Data covers non-listed SOEs with a state shareholding of at least 50% which are not listed on the stock exchange, except for Chile where data includes one listed SOE (ZOFRI), albeit with remuneration levels similar to those of non-listed SOEs.
Data unavailable for Australia, Belgium, Colombia, Germany, Greece, Hungary, Israel, Japan, Mexico, Peru, Philippines and Spain. Data partially available for Bulgaria, Chile, France, Korea, Lithuania and the Netherlands. For details on SOE classification according to orientation and size, see Annex A.
1 In Brazil, SOEs are classified as “dependent” and “non-dependent”.
2 For Chile, indicated amounts refer to the maximum remuneration levels for each board member (as opposed to the average), and include performance‑related compensation.
3 In the Czech Republic, SOEs are divided between commercial companies and state enterprises.
4 In Estonia, SOE boards do not include a “vice chair” position.
5 In France, SOEs are not categorised according to their commercial or public policy orientation.
6 In Lithuania and the Netherlands, indicated amounts refer to all SOEs regardless of their orientation. In the Netherlands, SOEs include BNG, COVRA, FMO, Gasunie, Holland Casino, Invest NL, Nederlandse Loterii, NIO, NS, Schipol, SRH, TennerT, UCN.
7 For Portugal, indicated amounts refer to the maximum remuneration levels for each board member (as opposed to the average), and to all SOEs regardless of their orientation.
8 For the Slovak Republic, indicated amounts refer to remuneration levels of board members of SOEs operating only in the transportation sector.
Source: Country responses to the OECD questionnaire supplemented by desk research, and OECD calculations based on OECD database (https://data.oecd.org/earnwage/average-wages.htm) and ILOSTAT database (https://ilostat.ilo.org/topics/wages/).
Table A B.2. Average annual remuneration of supervisory board members of public policy-oriented SOEs
Shown in actual USD, and (as a percentage of average annual wages)
Country |
Board chair |
Board vice chair |
Ordinary board member |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Large SOEs |
Medium SOEs |
Small SOEs |
Average total |
Large SOEs |
Medium SOEs |
Small SOEs |
Average total |
Large SOEs |
Medium SOEs |
Small SOEs |
Average Total |
|
Austria |
3 072 (6%) |
2 835 (5%) |
2 126 (4%) |
2 835 (5%) |
2 835 (5%) |
2 600 (5%) |
2 000 (4%) |
2 600 (5%) |
2 363 (4%) |
2 362 (4%) |
1 890 (4%) |
2 363 (4%) |
Brazil1 |
7 233 (121%) |
N/A |
7 284 (122%) |
7 261 (121%) |
7 233 (121%) |
N/A |
7 284 (122%) |
7 261 (121%) |
7 233 (121%) |
N/A |
7 284 (122%) |
7 261 (121%) |
Bulgaria |
N/A |
N/A |
N/A |
N/A |
N/A |
20 512 (247%) |
20 049 (242%) |
16 944 (204%) |
19 169 (123%) |
|||
Costa Rica2 |
N/A |
N/A |
N/A |
N/A |
6 246 (56%) |
4 941 (44%) |
2 169 (19%) |
4 452 (40%) |
6 246 (56%) |
4 941 (44%) |
2 169 (19%) |
4 452 (40%) |
Croatia |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
3 780 (23%) |
Czech Republic3 |
13 888 (46%) |
3 961 (12%) |
2 889 (10%) |
6 897 (23%) |
9 786 (33%) |
2 330 (8%) |
2 377 (8%) |
4 847 (16%) |
7 643 (26%) |
2 330 \ (8%) |
2 330 (8%) |
4 101 (14%) |
Estonia4 |
15 183 (49%) |
12 311 (40%) |
6 530 (21%) |
11 150 (36%) |
N/A |
N/A |
N/A |
N/A |
7 827 (25%) |
6 532 (21%) |
3 646 (12%) |
5 911 (19%) |
Finland |
N/A |
34 498 (75%) |
||||||||||
Iceland |
38 853 (58%) |
24 925 (37%) |
13 670 (20%) |
18 204 (27%) |
29 026 (43%) |
12 606 (19%) |
5 790 (9%) |
9 431 (14%) |
19 347 (29%) |
12 606 (19%) |
5 790 (9%) |
8 626 (13%) |
Ireland |
18 573 (38%) |
10 568 (21%) |
||||||||||
Latvia |
34 934 (117%) |
12 854 (43%) |
23 894 (80%) |
N/A |
N/A |
N/A |
N/A |
29 740 (100%) |
11 041 (37%) |
20 391 (68%) |
||
New Zealand |
48 703 (108%) |
34 575 (76%) |
32 175 (71%) |
38 484 (85%) |
31 928 (71%) |
21 605 (48%) |
20 103 (44%) |
24 545 (54%) |
24 105 (53%) |
17 617 (39%) |
16 082 (36%) |
19 268 (43%) |
Norway |
26 365 (47%) |
26 365 (47%) |
15 573 (28%) |
15 573 (28%) |
14 961 (27%) |
14 961 (27%) |
||||||
Slovak Republic5 |
10 203 (43%) |
10 203 (43%) |
10 790 (46%) |
N/A |
N/A |
10 790 (46%) |
6 917 (29%) |
6 917 (29%) |
||||
Turkey |
16 150 (273%) |
8 075 (137%) |
8 075 (137%) |
Note: Data covers SOEs with a state shareholding of at least 50% which are not listed on the stock exchange, except for Chile where data includes one listed SOE (ZOFRI), albeit with remuneration levels similar to those of non-listed SOEs.
In France, Lithuania, the Netherlands and Portugal, SOEs are not classified according to their orientation. Data unavailable for Australia, Belgium, Colombia, Germany, Greece, Hungary, Israel, Japan, Korea, Mexico, Peru, Philippines and Spain. Data partially available for Bulgaria. For details on SOE classification according to orientation and size, see Annex A.
1 In Brazil, SOEs are classified as “dependent” and “non-dependent”.
2 In Costa Rica, the chair of the board is the CEO.
3 In the Czech Republic, SOEs are divided between commercial companies and state enterprises.
4 In Estonia, SOE boards do not include a “vice chair” position.
5 For the Slovak Republic, indicated amounts refer to remuneration levels of board members of SOEs operating only in the transportation sector.
Source: Country responses to the OECD questionnaire supplemented by desk research, and OECD calculations based on OECD database (https://data.oecd.org/earnwage/average-wages.htm) and ILOSTAT database (https://ilostat.ilo.org/topics/wages/).