According to a study, the average salaries of top managers in the United States rose by 31 percent last year to a record $20 million.

Equilar said on Monday that many companies would reward their leaders for guiding them through challenges such as supply shortages.

Higher sales and higher share prices also drove compensation.

"Many of the companies have done well during the pandemic, which has definitely contributed to the pay increases," it said.

The study reportedly included the 100 largest US companies by revenue that had submitted their reports to the authorities on the subject by March 31.

A year ago, the Equilar study reported a two percent decline in top salaries to an average of $15.5 million.

Apple CEO Tim Cook in second place

This was justified by the weaker development of many companies in the wake of the corona pandemic and by the fact that many companies have adjusted their executive compensation packages to reduce the burden on employees from the pandemic.

The development has meant that by 2021, these CEOs will now be earning 254 times the salary of the average worker, according to Equilar.

In 2020 it was still 238 times.

Patrick (Pat) Gelsinger, Intel CEO, tops the list of top earners with nearly $178 million last year.

Apple CEO Tim Cook, who received $98.7 million in compensation last year, follows at some distance after $14.8 million the year before.

Hock Tan, CEO of semiconductor company Broadcom, earned 1542 percent more in 2021 than in the previous year and is the third highest-earning executive with a salary of $60.7 million.

Increases were recorded across all salary components.

While average salary and benefits increased incrementally, the largest jumps were examined in the form of cash awards and stock awards.

Median stock awards increased 22.7 percent in 2021 from $8.6 million to $10.5 million.

Cash bonuses increased 46.4 percent in 2021 from $2.8 million to $4.2 million.