Manager Salaries: DAX CEOs Earn 42 Times More Than Employees

Top executives at Germany's largest publicly traded companies saw their compensation rise in 2025, earning an average of nearly 3.9 million euros. This figure represents 42 times the average salary of an employee, according to an annual analysis by the German Association for Securities Protection (DSW) and the Technical University of Munich.

The study revealed a four percent increase in executive pay compared to the previous year. A significant portion of these earnings comes from performance-based bonuses, which are often paid out with a time lag. The average total compensation for DAX CEOs in 2025 reached approximately 6.14 million euros.

Two chief executives surpassed the "magic threshold" of 10 million euros, a level considered "socially and internally acceptable" by shareholder advocates. SAP CEO Christian Klein received a total remuneration of about 10.9 million euros, with nearly 86 percent from variable components. Deutsche Bank CEO Christian Sewing earned 10.5 million euros, including about 64 percent in short- and long-term bonuses tied to business success.

Despite these high figures, the report notes that such executive compensation remains relatively low in an international comparison. The article indicates that it will be updated with further information.

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The 'magic threshold of ten million euros,' which is 'socially and also within companies still acceptable' from the perspective of shareholder advocates, was broken through in two cases.