CEO pay for top 300 companies has fallen for the first time since the onset of the pandemic as investor and public activism, lacklustre economic growth and job cuts weigh heavily on leading boards.

Macquarie Group chief executive Shemara Wikramanayake has remained Australia’s highest-paid chief executive for the third year in a row. Her reported pay in 2022-23 was boosted by almost 30 per cent to top $30 million for the first time.