Boeing is a company that just can't seem to stay out of the headlines. Between the technical glitches and the massive labor strikes that dominated the news late last year, everyone is looking at the person in the cockpit. Specifically, people are looking at their paycheck. If you've been wondering about the salary of Boeing CEO Kelly Ortberg, you aren't alone. It’s a number that feels almost imaginary to most of us, yet it’s tied to the survival of one of America’s most critical manufacturing giants.
Kelly Ortberg took over the reins in August 2024, coming out of a very brief retirement to fix a ship that was, quite frankly, taking on water. But he didn't do it for free.
The Base Pay vs. The Big Picture
Let's get the boring stuff out of the way first. Ortberg’s base salary of Boeing CEO is set at $1.5 million annually.
That’s the "walking around money." It’s the guaranteed part. But in the world of C-suite executives, the base salary is usually just the tip of the iceberg. Honestly, it’s the stock awards and performance bonuses that make or break the total compensation package. For 2026, Ortberg’s potential total take-home is a much different story than just that $1.5 million.
When he signed on, the board laid out a very specific roadmap. For his first full year (2025), his target compensation was roughly $22 million. That includes:
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- The $1.5 million base salary.
- A target annual incentive (cash bonus) of $3 million.
- Long-term stock incentives worth about $17.5 million.
Why the Pay Package is So Controversial
You can't talk about the salary of Boeing CEO without talking about the people building the planes. Late in 2025 and into early 2026, Boeing has been under the microscope for its "pay ratio." That’s the gap between what the boss makes and what the average machinist on the floor in Renton or Everett takes home.
The math is a bit staggering. With a total package hovering around $19 million to $22 million, Ortberg makes roughly 183 times what the median Boeing employee earns.
That median salary is about $106,000. For a lot of folks, seeing a CEO pull in tens of millions while the company struggles with safety "glitches" and massive financial losses feels wrong. But the board argues that you have to pay top dollar to get someone who can actually fix the culture. Ortberg isn't just a suit; he’s an engineer by trade. He spent years at Rockwell Collins. The hope is that he brings an "engineering first" mindset back to a company that many feel became too focused on Wall Street.
Comparing Ortberg to Dave Calhoun
Remember Dave Calhoun? He was the guy before Ortberg. His pay was even more of a lightning rod. In 2023, Calhoun’s total compensation was a whopping $32.8 million.
People were furious.
The company was losing billions, the 737 MAX was still a PR nightmare, and yet the CEO got a 45% raise. Most of that was in stock that hadn't vested yet, but the optics were terrible. In 2024, Calhoun’s pay "dropped" to about $15 million because he declined his bonus and the stock price took a nosedive.
Ortberg’s current salary of Boeing CEO is actually lower than Calhoun's peak. It’s almost like the board realized they couldn't keep handing out $30 million checks while the planes were literally losing door plugs in mid-air.
The Hidden Perks and "Sign-on" Sweeteners
Executive pay is never just a check in the mail. When Ortberg took the job, he got a "cash payment" of $1.25 million in December 2024 just for showing up. Plus, he was handed restricted stock units (RSUs) worth $8 million and performance-based options worth another $8 million.
These aren't instant cash. He has to stay at the company for three to four years to see that money. If he gets fired tomorrow? Most of that evaporates. This is what's called "the golden handcuffs." It’s designed to make sure he doesn't just come in, make a few radical changes, and bail.
What’s Happening Right Now in 2026?
As of January 2026, Boeing is in a "prove it" phase. They just finished merging Spirit AeroSystems back into the fold—a move that cost a fortune but was necessary to control quality. Ortberg is also dealing with the aftermath of new labor contracts.
Just this month, Boeing reached a deal with SPEEA (the engineers' union) in Wichita. The union members are seeing 20% wage increases over the next few years. While that sounds like a lot, it’s a drop in the bucket compared to the executive suite. The tension between the salary of Boeing CEO and the frontline workers is the highest it's been in decades.
Is He Worth the Price Tag?
That’s the $22 million question.
If Ortberg successfully stabilizes the 777X program and gets the FAA off Boeing's back, the board will say he was a bargain. If the company continues to bleed cash—Boeing lost nearly $12 billion in 2024—then no amount of salary "reduction" will satisfy the critics.
One thing is for sure: Ortberg’s pay is heavily tied to the stock price. If the stock stays down, his "millions" in stock awards are worth significantly less. He’s essentially betting on himself.
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Actionable Insights for Investors and Observers
If you are tracking Boeing’s financial health or curious about how executive pay affects the stock, keep these points in mind:
- Watch the Proxy Statement: Boeing usually releases its annual proxy statement (Form DEF 14A) in March or April. This is the only place to find the "real" final numbers for the previous year's pay.
- The 183:1 Ratio: This is the benchmark for labor relations. If this gap widens in 2026, expect more friction with the International Association of Machinists (IAM) and SPEEA.
- Vesting Schedules Matter: Most of the CEO’s wealth is locked in stock that vests over 3-4 years. If you see Ortberg suddenly selling shares, it’s a major signal.
- Quality vs. Profit: Look for "quality metrics" in the bonus structure. In the past, CEOs were paid for profit. Now, the board has supposedly shifted some of that to safety and quality milestones. Check if those targets are actually being met before the bonuses are paid out.