WORKING OUT THE NUMBERS

Survey covers the top 50 NZX companies, plus Fonterra. Herald publisher NZME is included for transparency.

Some property companies are excluded if their management structure makes it impossible to obtain pay data.

Unless specifically declared, top paid employee was assumed to be the chief executive.

Situations with no specific declaration are marked "one employee earns".

Where earnings for an unspecified employee were declared in a band, upper limit was used.

Remuneration data is based on obvious declared earnings including base, bonus, performance, relevant share options and pensions in the year they were paid.

Averages are calculated using only individuals with data for both 2015-16 and 2016-17.

We only include what is disclosed. Company profit is net profit after tax.