Maine falls in the lower half of the country for income, but there are some big paychecks.

Mainebiz composed a list of the highest-paid public company executives ranked by total compensation in 2023. The top ten list out of the 21 they reported has something in common. The top 10 list comes from only two companies: IDEXX and WEX.

Wex and Idexx Labs
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50% WEX Inc. and 50% IDEXX Inc.

Five executives from WEX Inc. and five executives from IDEXX Laboratories Inc. make up the top ten highest-paid executives. All are millionaires, and 80% are men. But the highest-paid executive (of a public company) is once again a woman—Melissa Smith, the CEO, Chair, and president of WEX Inc.

READ MORE: Do You Work At One Of The 2024 Best Places to Work in Maine?

Melissa Smith
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Maine's average income for 2023 was $75,740

There's quite a disparity between Maine's average income and the top executives, but that's no different than other parts of the country or the world for that matter. Maine's Economic Year in Review for 2023 showed the average income at $75,740. That is still below the national average. Executives are executives for a reason. Mainebiz broke down the top executives' income to include 'total' compensation. For WEX's Melissa Smith that includes nearly 9 million in stock awards and options.

Judgement-free zone for Maine executive salaries

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This is just facts, not judgment. I'm always a fan of companies, especially those in Maine who are doing well and there is no doubt that WEX and IDEXX are two of the best. Glassdoor's survey of employees at WEX gave the company a 3.6 out of 5 (anonymously)  for satisfaction with the workplace. IDEXX was right behind with their Glassdoor survey of 3.5.

Here are the top 10 highest paid executives of public companies in Maine.

 

Maine's 10 Highest Paid Executives

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