Jim Anderson, a low-key executive from Pennsylvania, has become the highest-paid CEO in America. He leads Coherent, a company specializing in equipment for networks and lasers. Unlike the more recognizable names in the high-paid CEO world, Anderson’s total salary for 2024 reached a staggering $101,497,009, largely due to over $100 million in stock awards.
Among the top 100 highly paid CEOs, Anderson is the sole individual to exceed nine figures in compensation. Notable names like Tim Cook and Mark Zuckerberg may come to mind in this arena, but Anderson’s success stands out in a less familiar high-tech business landscape.
Despite a base salary of $1.06 million, Anderson, who only joined Coherent in June 2024, received just $81,538 in cash plus a $500,000 signing bonus. The bulk of his compensation came from the substantial stock awards totaling over $100 million, as detailed in Coherent’s 2024 proxy statement.
Anderson’s earnings surpass those of prominent CEOs like Starbucks’ Brian Niccol and Microsoft’s Satya Nadella, with his $101.5 million compensation for 2024 setting him apart as the top earner. However, there is a possibility that Anderson may be overtaken as the highest-paid CEO once all 2024 proxy statements are submitted.
Equilar’s study, which analyzed proxy statements from companies earning $1 billion or more in revenue through March 31, offers insights into executive compensation trends. The median CEO compensation in 2024 rose by 9.5% from the previous year, driven by significant stock payouts. Stock awards accounted for nearly three-quarters of the total median compensation for the CEOs studied by Equilar.
Anderson’s background includes leadership roles at Lattice Semiconductor and AMD, showcasing his expertise in the tech industry. With advanced degrees in engineering and a successful track record in executive roles, Anderson’s rise to the top of the CEO compensation ranks solidifies his position as a standout figure in the business world.
