Korn Ferry

Chief communications officers working at companies in the Fortune 500 earned between $50,000 and $100,000 more this year than they did two years ago, according to a recent survey of chief communications officers by global consulting firm Korn Ferry.

The survey, which examines trends among senior-most communications executives at Fortune 500 companies, found that compensation continues to climb for these top communicators, with median base pay now standing at $400,000–$450,000, compared to $350,000–$400,000 in 2023. When total target compensation was taken into consideration—base salary along with bonuses, stocks, etc.—the median figure jumps to between $900,000 and $1 million.

Nearly half earned seven-figure salaries this year, according to the survey, while one in seven earned an annual salary of more than $2 million

Richard Marshall, Global Mng. Dir., Korn Ferry

The survey also found that more than half (54 percent) of CCOs reported working with budgets in excess of $5 million.

When it comes what kinds of teams they’re hiring for support, CCOs listed media relations, social/digital media, crisis/issues management, executive communications and internal communications as their top hiring priorities.

The survey also discovered that nearly all (96 percent) reported relying on external agencies for communication support. And CCOs have made major strides in embracing AI too, with 96 percent reporting that they’re leveraging the technology, even though nearly a third (29 percent) admitted that their organization still lacks a defined AI integration strategy.

Finally, Korn Ferry’s survey found that more than half (51 percent) of CCOs reported serving on their organization’s executive committee.

Korn Ferry’s latest “Chief Communications Officer Survey” collected data from senior-most communications professionals at 78 Fortune 500 companies representing industries ranging from the financial services sector to consumer, technology, industrials, media, healthcare and energy. CCOs who participated in the survey oversee teams ranging from fewer than 10 to more than 250 employees. Surveys were conducted between August and September.