Disney CEO Bob Iger has been in the headlines quite a bit lately.
From the mass layoffs that took place within the Walt Disney Company to allow for restructuring that focuses on streaming, to his contract getting extended until 2026, to the release of his salary in a recent SEC filing, it’s safe to say that Iger has been a big topic! A lot of folks are curious about what his salary could look like going forward. Let’s talk about it.
On January 16th, Iger’s salary — along with several other executives’ — was released in an SEC filing. In fiscal 2023, CEO Bob Iger made $32,123,717. This number includes base pay, bonuses, stock awards, stock-option awards, and other compensation.
Also included in the report, though, was the average salary of a Disney employee in 2023, which was $54,010. The report puts this into perspective for us: that ratio is 595:1. Yes, Bob Iger makes 595 times more than the average Disney employee.
According to Variety, the number is actually down from what Iger received in his full year of employment in 2021, when he made $45.9 million.
We’re interested to see how that number changes in the next year, as Iger has set his mind to accomplish some major changes based on four building opportunities, as he shared in the final earnings call of 2023. Although his contract was initially supposed to end in 2024, we learned last year that it would be extended until December 31st, 2026 — so we’ll have to wait and see if Iger pulls through with those changes!
If Iger succeeds in his goal of upping streaming and Experiences revenue, there’s a good chance we’ll see him take a pay increase. However, a pay increase (especially when you’re looking at a salary of this magnitude) isn’t always received well.
Abigail Disney, the granddaughter of Roy Disney, shared on X that although she likes Bob Iger, a pay ratio over a thousand is “insane.” This comment was made in 2019 after Iger’s salary increased 80% to reach $65.6 million. That salary is 1,424 times that of the average Disney employee.
Let me very clear. I like Bob Iger. I do NOT speak for my family but only for myself. Other than owning shares (not that many) I have no more say in what happens there than anyone else. But by any objective measure a pay ratio over a thousand is insane. https://t.co/O34OjXd6rr
— Abigail Disney (@abigaildisney) April 21, 2019
So… What does this have to do with his salary in 2024? Let’s look into the past. Back in April of 2020, Disney CEO Bob Chapek and former CEO (current Chairman) Bob Iger both elected to take temporary pay cuts due to the pandemic. Disney shared that Iger would be forgoing his entire salary for the unspecified amount of time, and Chapek would be giving up 50% of his.
The salary cuts ended in August of 2020, a month after the Walt Disney World parks reopened. Iger and Chapek made $35 million in 2020. Thanks to the cuts then, Iger’s base salary went from $3 million to $1.6 million for the year, according to Variety. He didn’t receive any large bonuses like he did in 2019, so his total compensation for the year added up to $21 million. The rest of that package included stock awards, option awards, and other compensations.
So, looking forward, it’s hard to say whether or not Iger will have an increase in salary or voluntarily give up his stock awards and other compensations. Granted, he doesn’t have a pandemic to consider so far into 2024, but based on how these numbers have been received in the past, there’s still a chance that he could allow that extra money to be put elsewhere. However, we wouldn’t be surprised to see that number grow in 2024 based on his success.
In the meantime, we’re always on the lookout for the latest Disney news, so stay tuned for more.
CONFIRMED: Bob Iger Will Step Down from Disney CEO Position in 2026
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What do you think of Iger’s 2023 salary? Let us know in the comments!
The important comparison should be the average Disney employee salary vs other large company average salaries. This reflects management’s ability to attract and retain top people. Executive’s incomes have always been a high multiple of average salaries, and they will continue that way. Those incomes may sound astronomical, but that’s how it is in the real world.
Comparing his salary to the average Disney employee is ridiculous.
He runs a multi Billion dollar company & with that comes alot of responsibility. He does not get to clock out after his shift. I work for a multi Million dollar company & do not expect to make as much as the owners
Thats an absolutely ridiculous amount of money, especially when its the park cast members that provide all the magic along with the imagineers that design great attractions.
When I worked at Disney World in the 1990’s, Michael Eisner had a few years where he made over $200 million with pay, stock options, etc. I was making $6.25/hr at the time as a second year cast member. Back then we were told over and over that we had to make money for the shareholders. Helped Eisner out really well. Sounds like it’s not much different now.