Here’s Billboard Insider’s list of who makes what at the public out of home companies.  We computed the list based on total compensation in each company’s 2022 14A proxy statement.

Three observations:

Everyone except Reilly and Wells is down

All the execs except Sean Reilly and Scott Wells had pay decreases during 2022 due to a decrease in incentive bonuses and stock compensation.  This is as it should be.  No exec should be benefiting handsomely when the company’s stock is declining.  Exec salaries also declined because they were coming off a high base.  There were huge performance bonuses in 2022 as companies recovered from covid.

Reilly should be paid more or the other CEO’s should be paid less

Sean Reilly is the best CEO in the out of home business and should be paid the most.  Listen to the earnings calls.  Look at financials or stock price performance.  It’s obvious.

Why is executive pay higher at OUTFRONT?

Why are the highest salaries by position paid at OUTFRONT which has the smallest revenues, the smallest market cap and middling stock performance?  Perhaps it’s because OUTFRONT is based in New York were costs are higher than other cities.   Look at the pay ratio calculation below.  The Pay ratio is the ratio or a CEO salary to the median employee compensation at a company.  OUTFRONT has the industry’s lowest pay ratio.  OUTFRONT’s CEO Jeremy Male is paid 96 times the annual employee’s median income due to the fact that OUTFRONT employees have a higher median income than Lamar or Clear Channel Outdoor employees.

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