Survey Includes Participation from 2,000 Senior Executives in Latin America
The political and economic uncertainties have impacted the earnings of senior leadership. This is revealed by the Executive Compensation Survey for presidents and CEOs by Page Executive, a business unit of PageGroup specialized in the recruitment of senior executives. According to the survey, the average fixed monthly salary of this group in Brazil showed salary stability across all positions, regardless of the size of the company.
“Even with stable fixed compensation, it is evident that companies are being selective in deciding who to keep at the center of their strategies. There is an intentional movement to retain leaders who, in addition to delivering results, can engage teams and drive transformations in complex contexts. In a scenario of low growth and high competition for differentiated profiles, these choices say a lot about the type of future each organization aims to build.” Comments Humberto Wahrhaftig, CEO at Page Executive.
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The study was conducted from October 2024 to February 2025 and involved the participation of 2,000 senior executives working in companies of various sizes across Latin America. The compensation of these professionals is categorized by ranges, according to the revenue size of the company where they work: up to R$ 250 million, from R$ 250 million to R$ 500 million, from R$ 500 million to R$ 1 billion, and above R$ 1 billion.
According to Paulo Dias, CEO of Page Executive, the stability of fixed compensation for the second consecutive year reflects the direct impacts of an uncertain political and economic scenario. “The current environment requires caution in salary reviews. What we observed was the maintenance of levels for most executives, with gains occurring sporadically — more linked to specific contexts of each company than to a generalized market trend,” he explains.
“Salary ranges should be interpreted not only by the values they present but also by what they communicate about the company’s positioning. Adjustments at certain salary levels indicate where the company is investing and which roles are gaining prominence within the business,” says Humberto.
See below how the compensation turned out for each position analyzed in senior leadership:
CTO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 50,000 |
| 2024 | R$ 30,000 to R$ 50,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 60,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 80,000 |
| 2024 | R$ 40,000 to R$ 80,000 |
| Stability |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 60,000 |
| 2024 | From R$ 60,000 |
| Stability |
“With the market readjustment in technology, many organizations have reduced the flow of large investments and increases in compensation, maintaining salary stability for CTOs,” explains Humberto.
CEO
“Although we are talking about the main position in the organization, salary adjustments for CEOs have been sporadic. In many cases, the maintenance of compensation comes with an even greater demand for delivering results, leadership in digital transformation, and preparing successors,” says Wahrhaftig.
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 65,000 |
| 2024 | R$ 40,000 to R$ 65,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 50,000 to R$ 80,000 |
| 2024 | R$ 50,000 to R$ 80,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 60,000 |
| 2024 | From R$ 60,000 |
| Stability |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 80,000 |
| 2024 | From R$ 80,000 |
| Stability |
CFO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 60,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 70,000 |
| 2024 | R$ 40,000 to R$ 70,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 50,000 to R$ 80,000 |
| 2024 | R$ 50,000 to R$ 80,000 |
| Increase in Base |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 70,000 |
| 2024 | From R$ 70,000 |
| Stability |
“CFOs have been playing an increasingly central role in business expansion. In IPO cycles, M&As, or restructurings, it is natural for this position to concentrate part of the salary increases even in periods of economic caution,” says Paulo Dias.
CHRO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 60,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 70,000 |
| 2024 | R$ 30,000 to R$ 70,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 80,000 |
| 2024 | R$ 40,000 to R$ 80,000 |
| Stability |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 50,000 to R$ 80,000 |
| 2024 | R$ 50,000 to R$ 80,000 |
| Stability |
“Human Resources leaders play a central role in moments like this, supporting senior leadership in conducting negotiations with other executives in a cautious manner aligned with organizational culture. Still, we observe stability in the average compensation of these professionals,” comments Paulo.
CTO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 50,000 |
| 2024 | R$ 30,000 to R$ 50,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 60,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 80,000 |
| 2024 | R$ 40,000 to R$ 80,000 |
| Stability |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 60,000 |
| 2024 | From R$ 60,000 |
| Stability |
“With the readjustment in the technology market, many organizations have reduced the flow of major investments and salary increases, maintaining the stability of CTO salaries,” explains Humberto.
CCO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 58,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 60,000 |
| 2024 | R$ 40,000 to R$ 60,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 45,000 to R$ 80,000 |
| 2024 | R$ 45,000 to R$ 80,000 |
| Stability |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 50,000 |
| 2024 | From R$ 50,000 |
| Stability |
“Suffering from economic adjustments, the sales area did not see many salary movements in 2023. Only slight growths were observed in companies with higher revenues and investment capacity,” says Wahrhaftig. [HW1]
COO
Up to R$ 250 million:
| Year | Salary Range |
| 2023 | R$ 30,000 to R$ 60,000 |
| 2024 | R$ 30,000 to R$ 60,000 |
| Stability |
From R$ 250 million to R$ 500 million
| Year | Salary Range |
| 2023 | R$ 40,000 to R$ 70,000 |
| 2024 | R$ 40,000 to R$ 70,000 |
| Stability |
From R$ 500 million to R$ 1 billion:
| Year | Salary Range |
| 2023 | R$ 45,000 to R$ 80,000 |
| 2024 | R$ 45,000 to R$ 80,000 |
| Increase in Base |
Above R$ 1 billion:
| Year | Salary Range |
| 2023 | From R$ 60,000 |
| 2024 | From R$ 60,000 |
| Increase in Base |
“The average compensation of operation directors, in general, maintained the index of recent years, except for cases where these executives may have taken on more responsibilities,” adds Dias.
To access the complete study, click here: https://www.pageexecutive.com/executive-compensation-insights?utm_source=linkedin&utm_medium=social&utm_campaign=eci25
Page Executive
Page Executive, a business unit of PageGroup, specializes in recruiting C-Level executives, decision-makers at the board and council levels, as well as Advisory and Assessment projects for leadership. With a national presence and a team of over 42 consultants distributed across various offices in Latin America, Page Executive conducts over 250 projects per year, providing strategic and high-value solutions for companies looking for the best leaders.
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Cell: (11) 99196-3890

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