DesignRush Reveals 10 States Where CEO Salaries Dropped the Most

CEOs, one of the highest-earning roles in a company, boasts an average annual salary of $258,900 in the United States, reflecting a 12.23% growth rate over the past five years.  

However, new data reveals a surprising twist in economic figures, highlighting a disparity in CEO wage growth across the country. 

Agency directory DesignRush conducted a study comparing the decline in CEO wages with the national trend of average wage growth in the U.S. 

The findings reveal that some states are experiencing unpopular decreases well below the national average, while others have increased CEO compensation. 

Understanding this disparity helps business owners create compensation packages that will boost productivity and retention.

CEOs, on the other hand, can make well-informed decisions when it comes to accepting a job offer or looking for a better one in a different state.

States with the Highest CEO Salary Drop 

Topping the list is the state of Oklahoma, where CEO wages took a steep dive.

According to our study, their average CEO salary dropped from $187,532 in 2019 to $158,230 in 2023, marking a significant 15.63% decline. 

Next to Oklahoma is Arizona, with salaries falling by 15.28% from $218,555 in 2019 to $185,160 in 2023. This sharp drop raises concerns about the business environment and economic conditions in the state. 

Third on the list is the state of Louisiana, which saw a 13.02% reduction in CEO compensation, with wages decreasing from $249,376 to $216,900.  

Pennsylvania comes next, with CEO salaries dropping by 12.98%, from $272,058 in 2019 to $236,750 in 2023. 

Meanwhile, Maine's CEOs experienced a 12.32% decline in wages, falling from $178,214 to $156,260.  

Sixth in the list is Missouri, with CEO salaries decreasing by 11.37%, from $205,192 in 2019 to $181,870 in 2023.  

While less severe than other states, Alaska saw a 7.32% reduction in CEO wages, with salaries falling from $210,380 to $194,980. 

In Kansas, CEO salaries dropped by 6.41%, from $196,064 in 2019 to $183,490 in 2023.  

Following Kansas is the state of Wyoming, as CEOs experience a 6.36% reduction in wages, with salaries decreasing from $155,188 to $145,320.  

In the tenth spot is New Hampshire, which experienced a 6.33% drop in CEO compensation, with wages falling from $201,693 to $188,920.  

Overall, these decreases highlight potential shifts in the state's business environment, contrasting with regions seeing growth.

Recently, DesignRush also revealed the most expensive states for outsourcing digital marketing projects.

Editing by Katherine 'Makkie' Maclang