Average total compensation for CEOs and CFOs in E&P companies increased last year vs. 2017 primarily due to the value of long-term incentives, according to a report by Alvarez & Marsal’s compensation and benefits practice reviewing the 2018 proxy statements of the largest U.S. E&Ps. 

The practice also surveyed annual and long-term incentives for CEOs and CFOs; the benefits to which executives are entitled upon a change in control; and CEO pay ratios. Seventy-six companies were analyzed, ranging from $25 million in market cap to as high as $65.6 billion.

Overall, CEOs saw a 5% increase in average total compensation with $7,285,457 the average paid in 2018; CFOs enjoyed a 12% boost with the 2018 average at $3,160,614.

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