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The chief executives of Australia' s top-listed companies earned an average total pay of 4.84 million Australian dollars (4.34 million U.S. dollars) in 2013 - 63 times an average worker's earnings, according to a new report released on Thursday.
The Australian Council of Superannuation Investors' (ACSI) annual survey of CEO pay found the bosses of nation's top-100 companies listed on the stock market received 2.9 percent more in the 2013 financial year than in the previous financial year.
However, termination payments to the top chief executives have shrunk by close to 70 percent in the past five years.
The highest paid chief executive in the 2013 survey was boss of blood products and vaccines maker CSL, Brian McNamee, who earned 19.1 million Australian dollars (17.1 million U.S. dollars). That sum included 10 million Australian dollars (8.95 million U.S. dollars) related to his retirement at the end of last year.
The lowest paid CEO in the top 100 was Regis Resources' Mark Clark, who received 616,972 Australian dollars (552,495 U.S. dollars).
ACSI chief executive, Gordon Hagart, said the study showed the average total pay for the nation's top bosses was at its lowest level in a decade when compared to average earnings.
"When investors behave like owners, and make it clear to boards their expectations around executive pay, Australian boards generally respond," he said in a statement.
"It seems boards and investors have, together, used the changes to termination payments legislation to drive down the aggregate costs to shareholders of executive departures."
