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Norwegian CEOs earn small pay checks

Compared with senior executives in the world’s largest companies, the Norwegians’ pay checks are modest.

The top executives in the largest Norwegian companies are listed far down on the lists of the highest annual salaries also when compared to similar companies abroad.

«This is something we have stated for some time. Norwegian senior executive’s salaries are low,» said Harald Dale-Olsen at the Institute for Social Research, to the Norwegian daily Aftenposten.

Dale-Olsen said he does not doubt that federal ownership is one of the reasons for the low salaries.

Aftenposten compared the salary of senior executives in some of the largest companies at Oslo Bourse with British, American and Canadian companies of roughly the same size from the same industry with similar turnover, market value and number of employees. The average salary for the selected foreign companies was NOK 14 million (USD 2.09 million), while most Norwegian leaders earn an average of NOK 4 million (USD 596.120)

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