Governors are the highest-ranking officials in state government. Much like CEOs in the private sector, governors serve as the chief executives of their state, wielding exclusive power and shouldering the responsibility that comes with the post. However, as public servants, state governors are generally compensated far less than their private-sector counterparts.
The average pay among CEOs of America’s 500 largest companies was $14 million in 2017 — more than double the combined salaries of all 50 state governors. Still, just as it does in the private sector, compensation for the top job varies from state to state. In some states, governors earn more than double the salaries of governors of other states.
24/7 Wall St. reviewed the listed salary of governors in each state to identify America’s highest-paid governors. These salaries do not factor in common benefits such as housing, access to government vehicles, and travel allowances and reimbursement.
While the size of the state and the number of constituents each governor is accountable for does not appear to directly impact compensation, many of the highest-paid governors work in more populous states.