Jim Anderson, CEO of Coherent, a company based in Saxonburg, Pennsylvania, specializing in the production of equipment and solutions for laser systems and networks, has become the highest-paid CEO in the United States. For 2024, his total compensation amounts to $101,497,009, according to preliminary research by the executive intelligence firm Equilar.

Although Anderson has a base salary of $1.06 million, having joined the company in June 2024, he received only $81,538 in cash compensation. However, his base salary, along with a $500,000 signing bonus, represented only a small portion of his total pay. The bulk of his compensation came in the form of stock awards, amounting to over $100 million, as disclosed in Coherent’s 2024 proxy statement. Among the top 100 highest-paid CEOs, Anderson was the only one to surpass the $100 million mark. At 52 years old, he outpaced prominent figures such as Starbucks’ Brian Niccol, whose $95.8 million compensation was $5 million less than Anderson’s.

Anderson’s position as the highest-paid CEO could still change following the release of all 2024 proxy statements. Equilar’s analysis reviewed proxy filings through March 31 from companies with revenues of $1 billion or more, offering an initial snapshot of executive compensation. Formerly the CEO of Lattice Semiconductor, Anderson succeeded Chuck Mattera, Coherent’s retired chief executive, last year. Prior to his tenure at Lattice, Anderson served as Senior Vice President and General Manager of the Computing and Graphics Business Group at AMD, according to Coherent’s website.

According to Equilar’s analysis, the median CEO compensation for 2024 is projected to reach $25.6 million, reflecting a 9.5% increase compared to the previous year. Equilar noted that in recent years, CEO pay has risen primarily due to significant stock award allocations.