How Boeing Pays
Boeing's L1 to L6 technical ladder and K, L and M management grades priced across 35 markets, alongside an ESPP that buys shares at 95 percent of fair market value, executive-only RSUs and premium-priced options, a $23.58M CEO package at 166:1, and 49 FY2025 H-1B wage records.
Band Hierarchy
Boeing quotes both the level code and the base range inside most United States job postings, which makes the ladder unusually observable at home and almost invisible abroad. The L1 to L6 technical track and the K, L and M management grades below are consolidated from recurring posting language; Director, Vice President and Executive Vice President are public titles whose internal grade codes Boeing has never published.
Technical and professional ladder — L1 through L6
Management ladder — grades K, L and M
Leadership and executive tiers — Director through EVP
Disclosed executive layer
Track divergence
Hierarchy qualifications and legacy structures
- Boeing postings routinely label professional roles Level 1 through Level 6 and people-leader roles grade K, L or M, and quote a base range for the specific job and city. That is the strongest public evidence in this report.
- The same numeric level carries materially different pay by city, job family, security clearance, programme and bargaining status. An L3 example spans roughly $110,000 to $135,000 in lower-cost markets and $135,000 to $183,000 in Northern Virginia before clearance premiums.
- There is no published bridge from grade M into Director, Vice President, Senior Vice President or Executive Vice President. This report treats those as title tiers rather than claiming a numeric band.
- The technical fellowship overlay names Associate Technical Fellow, Technical Fellow, Senior Technical Fellow, Principal Senior Technical Fellow and Distinguished Senior Technical Fellow. Grade and salary equivalence to the L ladder is not published, so fellows are folded into the L5 and L6 rows here.
- Boeing and McDonnell Douglas combined in 1997, but the reviewed evidence does not establish an active, separately paid legacy grade system or a current harmonisation schedule.
- Approximately 72,000 employees are covered by collective agreements whose wage steps, general increases and progression rules are contractual. Those populations are outside the bands in this report.
Peer-level mapping
| Band | Archetype | Peer mapping | Caveat |
|---|---|---|---|
| L1 | Entry / Early Career | Lockheed Martin Engineer Early Career, Northrop Grumman Engineer 1, RTX Engineer I | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $70,000 to $95,000 national posting band scaled by the 1.08 Arlington differential. A St. Louis L1 requisition quoted $71,400 to $96,600 and a Hazelwood-area example quoted $78,200 to $105,800. |
| L2 | Associate | Lockheed Martin Engineer, Northrop Grumman Engineer 2, RTX Engineer II | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $88,000 to $125,000 national posting band scaled to Arlington. Oklahoma City software L2 quoted $92,650 to $125,350, St. Louis software L2 quoted $99,450 to $134,550 and Seal Beach software L2 quoted $106,250 to $143,750. |
| L3 | Experienced | Lockheed Martin Senior Engineer, Northrop Grumman Engineer 3, RTX Senior Engineer | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $110,000 to $160,000 national posting band scaled to Arlington. Northern Virginia L3 quoted $135,150 to $182,850, St. Louis software L3 quoted $126,650 to $171,350 and Oklahoma City L3 quoted $118,150 to $159,850. |
| L4 | Senior / Lead | Lockheed Martin Staff Engineer, Northrop Grumman Principal Engineer, RTX Principal Engineer | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $140,000 to $205,000 national posting band scaled to Arlington. Northern Virginia L4 quoted $171,700 to $232,300, St. Louis software L4 quoted $160,650 to $217,350 and Puget Sound L4 quoted $130,900 to $177,100. |
| K | First-Line Manager (Grade K) | Lockheed Martin Manager, Northrop Grumman Manager 1, RTX Associate Director | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $145,000 to $210,000 national posting band scaled to Arlington. A Florida K manager quoted $141,100 to $190,900, a Hazelwood first-line engineering manager quoted $141,100 to $190,900 and a California K manager quoted $169,750 to $253,000. |
| L5 | Lead / Expert | Lockheed Martin Senior Staff, Northrop Grumman Sr Principal Engineer, RTX Fellow track entry | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $170,000 to $235,000 national posting band scaled to Arlington. Puget Sound L5 quoted $161,500 to $218,500, a national principal-engineer example quoted about $176,800 to $239,200 and a further national L5 example quoted $164,900 to $257,600. |
| L-MGR | Senior Manager (Grade L) | Lockheed Martin Senior Manager, Northrop Grumman Manager 2, RTX Director | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $170,000 to $240,000 national posting band scaled to Arlington. A Wichita senior manager quoted $142,500 to $218,500, a Hazelwood senior engineering manager quoted $170,000 to $230,000 and an El Segundo senior manager quoted $180,200 to $265,000. |
| L6 | Principal / Chief Expert | Lockheed Martin Fellow, Northrop Grumman Technical Fellow, RTX Technical Fellow | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $205,000 to $285,000 national posting band scaled to Arlington. A Long Beach Software Chief Architect posted in August 2026 was labelled Level 6 and quoted $249,900 to $338,100; a national L6 example quoted $194,650 to $302,450. |
| M | Senior Manager / Delivery Leader (Grade M) | Lockheed Martin Director, Northrop Grumman Director 1, RTX Senior Director | Scope orientation only; Boeing publishes no peer-level crosswalk.Midpoint of the $185,000 to $260,000 national posting band scaled to Arlington. A San Antonio requisition labelled Level M quoted $167,450 to $226,550. |
| DIR | Director | Lockheed Martin Senior Director, Northrop Grumman Director 2, RTX Vice President | The grade-code bridge from M into Director is not publicly disclosed.No salary-transparent Director requisition was found, so the $220,000 to $340,000 band behind this row is a market model scaled to Arlington. Equity at this tier is selective rather than routine and the bundles model it as a $0 to $250,000 range, so the row carries a zero recurring grant. |
| VP | Vice President | Lockheed Martin Vice President, Northrop Grumman Vice President, RTX Vice President | Boeing discloses vice-president titles but no compensation for the tier.Modelled from a $300,000 to $600,000 officer base range scaled to Arlington, with the midpoint of a $250,000 to $2.0 million annual award model as equity. Stock-ownership guidelines start at this tier at one to two times base salary. |
| EVP | SVP / EVP / C-Suite | Lockheed Martin EVP, Northrop Grumman Corporate VP, RTX President of a business | Only named executive officers are disclosed; other officers appear in Forms 4 alone.Anchored on the 2025 proxy. Named-executive base salaries excluding the chief executive ran from $651,846 to $1,200,000, cash incentives from $763,475 to $2,625,240, aggregate grant-date equity from $4.5 million to $10.0 million, and other compensation from $69,900 to $416,699. |
Critical evidence warning
Boeing publishes salary ranges in United States postings but no global grade matrix, no midpoint table, no non-executive bonus target grid and no country salary schedule. Every non-United States figure here is a calibrated model around the Arlington anchor and should be used for orientation rather than quoted as a Boeing pay band.
Compensation by Band — Arlington
Low / median / high annual values at 1.00× base and 1.00× total-compensation factors versus Arlington. Total equals base plus bonus plus annualized equity.
| Band | Title | Base | Variable | Total TC | Equity |
|---|---|---|---|---|---|
| L1 | Entry / Early Career 0–2 years · verified | $76K – $102K | 3% | $92K $78K – $106K | — |
| L2 | Associate 2–5 years · verified | $98K – $132K | 4% | $120K $102K – $138K | — |
| L3 | Experienced 5–9 years · verified | $124K – $168K | 5% | $153K $130K – $176K | — |
| L4 | Senior / Lead 9–14 years · verified | $158K – $214K | 7% | $199K $169K – $229K | — |
| K | First-Line Manager (Grade K) 8–14 years · verified | $163K – $220K | 10% | $211K $179K – $243K | — |
| L5 | Lead / Expert 14–20 years · verified | $186K – $252K | 10% | $241K $204K – $277K | — |
| L-MGR | Senior Manager (Grade L) 12–18 years · verified | $188K – $255K | 15% | $255K $216K – $293K | — |
| L6 | Principal / Chief Expert 20+ years · verified | $225K – $304K | 12% | $296K $252K – $341K | — |
| M | Senior Manager / Delivery Leader (Grade M) 15–22 years · verified | $204K – $276K | 20% | $288K $245K – $332K | — |
| DIR | Director 15–25 years · modeled | $257K – $348K | 30% | $393K $334K – $452K | — |
| VP | Vice President 20+ years · modeled | $413K – $559K | 75% | $1.98M $1.68M – $2.27M | $1.13M |
| EVP | SVP / EVP / C-Suite 20+ years · verified | $849K – $1.15M | 120% | $8.40M $7.14M – $9.66M | $6.00M |
Total Compensation Range by Band
Total compensation in Arlington across the employee bands. Proxy-disclosed executive cohorts are excluded so the employee bands stay readable.
Global Footprint & Pay Arbitrage
Boeing reported approximately 182,000 employees at the end of 2025 across more than 65 countries, with 14 percent based outside the United States. Arlington, Virginia is the pay anchor as the corporate headquarters metro; Puget Sound is the largest single cluster and Bengaluru is the largest engineering site outside the United States.
Office and market catalogue — calibration factors versus Arlington
| Location | Likely office profile | Presence | Base | TC |
|---|---|---|---|---|
Arlington United States · USD | Corporate headquarters, defence and enterprise staff functions | Official headquarters; salary-transparent postings | 1.00× | 1.00× |
Seattle / Puget Sound United States · USD | Commercial Airplanes engineering, manufacturing and flight test | Official footprint; salary-transparent postings | 0.97× | 0.97× |
St. Louis United States · USD | Defence, fighter, weapons and autonomy programmes | Official footprint; salary-transparent postings | 0.85× | 0.85× |
North Charleston United States · USD | 787 final assembly, manufacturing and engineering | Official footprint; H-1B worksite records | 0.81× | 0.81× |
Long Beach / El Segundo United States · USD | Space, satellites, avionics engineering and services | Official salary-transparent postings | 1.04× | 1.04× |
Mesa United States · USD | Rotorcraft, attack helicopter and defence programmes | Official footprint; regional posting evidence | 0.85× | 0.85× |
Huntsville United States · USD | Space, missile defence and defence engineering | Official footprint; regional posting evidence | 0.81× | 0.81× |
Oklahoma City United States · USD | Defence sustainment and software engineering | Official salary-transparent postings | 0.79× | 0.79× |
Wichita United States · USD | Engineering, manufacturing and supplier integration | Official salary-transparent postings | 0.79× | 0.79× |
San Antonio United States · USD | Aircraft maintenance, modification and sustainment | Official salary-transparent postings | 0.80× | 0.80× |
Bengaluru India · INR | Boeing India Engineering and Technology Centre; engineering, digital and product support | Official Boeing India disclosure; crowdsourced records | 0.13× | 0.13× |
Chennai India · INR | Engineering and product support extension of the India centre | Official footprint; modelled city differential | 0.12× | 0.12× |
Hyderabad India · INR | Engineering, digital and shared services | Official footprint; modelled city differential | 0.13× | 0.13× |
New Delhi India · INR | Country leadership, government affairs and customer-facing roles | Official footprint; modelled city differential | 0.14× | 0.14× |
London United Kingdom · GBP | Regional leadership, commercial and enterprise functions | Official footprint; UK market calibration | 0.60× | 0.60× |
Bristol United Kingdom · GBP | Defence engineering, services and Boeing Defence UK | Official footprint; UK market calibration | 0.52× | 0.52× |
Sheffield United Kingdom · GBP | Advanced manufacturing and research partnership site | Official footprint; UK market calibration | 0.48× | 0.48× |
Brisbane Australia · AUD | Largest Australian cluster; defence, autonomy, research and services | Official footprint; crowdsourced records | 0.61× | 0.61× |
Melbourne / Fishermans Bend Australia · AUD | Boeing Aerostructures Australia; advanced manufacturing and research | Official Boeing Australia disclosure | 0.63× | 0.63× |
Sydney Australia · AUD | Commercial, services and enterprise functions | Official footprint; Australian market calibration | 0.65× | 0.65× |
Auckland New Zealand · NZD | Regional commercial, technical and defence support roles | Official Oceania footprint; market model | 0.58× | 0.58× |
Winnipeg Canada · CAD | Composite manufacturing; largest Canadian site at about 1,500 people | Official Boeing Canada disclosure | 0.53× | 0.53× |
Toronto Canada · CAD | Distribution, services and customer support | Official footprint; Canadian market calibration | 0.63× | 0.63× |
Frankfurt / Munich Germany · EUR | Engineering, services, commercial and regional functions | Official footprint; limited German salary evidence | 0.72× | 0.72× |
Paris France · EUR | Commercial, policy and services | Official footprint; European market calibration | 0.70× | 0.70× |
Madrid Spain · EUR | Commercial, engineering and services | Official footprint; European market calibration | 0.60× | 0.60× |
Amsterdam Netherlands · EUR | Commercial, distribution and parts services | Official footprint; European market calibration | 0.73× | 0.73× |
Warsaw Poland · PLN | Engineering, software and business services | Official footprint; Polish posting and market data | 0.35× | 0.35× |
Singapore Singapore · SGD | Regional headquarters, services, parts distribution and training | Official footprint; Singapore salary evidence | 0.53× | 0.53× |
Tokyo Japan · JPY | Country leadership, commercial and customer services | Official footprint; Japanese market model | 0.41× | 0.41× |
Beijing China · CNY | Country leadership, commercial and government-facing roles | Official footprint; Chinese market model | 0.40× | 0.40× |
Seoul South Korea · KRW | Country leadership, commercial and defence services | Official footprint; single crowdsourced observation | 0.45× | 0.45× |
Dubai United Arab Emirates · AED | Regional commercial, services, parts and training hub | Official footprint; Gulf expatriate market model | 0.76× | 0.76× |
Riyadh Saudi Arabia · SAR | Defence, government and customer-facing programmes | Official footprint; Gulf expatriate market model | 0.72× | 0.72× |
São Paulo Brazil · BRL | Regional commercial, engineering and services | Official footprint; Brazilian market model | 0.27× | 0.27× |
Boeing does not publish city-level headcount for most sites, so this catalogue does not rank offices by employee count. The disclosed regional figures are roughly 7,000 in India, more than 3,000 in the United Kingdom, about 5,000 across Australia and Oceania and more than 2,000 in Canada, with about 1,500 of the Canadian total in Winnipeg. News reporting placed roughly 65,000 employees in Washington state and more than 9,000 in South Carolina in February 2026.
Arlington anchor medians — the basis of every modeled cell
| Band | Base | Stock | Bonus | Other | Total |
|---|---|---|---|---|---|
| L1 | $89K | $0 | $3K | — | $92K |
| L2 | $115K | $0 | $5K | — | $120K |
| L3 | $146K | $0 | $7K | — | $153K |
| L4 | $186K | $0 | $13K | — | $199K |
| K | $192K | $0 | $19K | — | $211K |
| L5 | $219K | $0 | $22K | — | $241K |
| L-MGR | $221K | $0 | $33K | — | $255K |
| L6 | $265K | $0 | $32K | — | $296K |
| M | $240K | $0 | $48K | — | $288K |
| EVP | $999K | $6.00M | $1.20M | $200K | $8.40M |
- The Arlington column is the anchor. Every band median is the midpoint of the national posting band for that level multiplied by the 1.08 headquarters-metro differential the bundles derive from Northern Virginia requisitions.
- Puget Sound sits at 0.97 of the anchor, Long Beach and El Segundo at 1.04, St. Louis and Mesa at 0.85, and Oklahoma City and Wichita at 0.79. Those are city differentials on the same posting evidence, not separate salary schedules.
- India is Boeing's largest workforce outside the United States at roughly 7,000 people, and the Boeing India Engineering and Technology Centre in Bengaluru is its largest facility of that kind outside the country. Crowdsourced Bengaluru records cover L1 through L4 directly; everything above is modelled.
- India total compensation runs at roughly 13 percent of the Arlington anchor at L1 and rises towards 55 percent at the executive vice president tier, because senior Indian roles compete in a global leadership market while entry-level engineering competes in a local one.
- The Gulf columns exceed the anchor at leadership levels. That is a local expatriate-package market model in a tax-free jurisdiction, not a Boeing schedule, and it should be treated as the weakest row in the table.
- Australia, New Zealand and Canada run slightly the other way: their factors are highest at entry level and drift down towards the leadership tiers, because local mid-market pay is comparatively strong and local executive pay is comparatively weak against the United States.
- The chief executive row is deliberately absent from the bands. Boeing's chief executive salary is a single global figure identical in every city table, and carrying it into the ladder would force every location's factor towards parity at the top.
Model rules
- Every modelled cell is the Arlington median multiplied by the city base or total factor and then by the 25 August 2026 foreign-exchange snapshot.
- Factors are derived from the bundles' own market benchmark tables divided by the Arlington anchor at the same level, with the junior factor taken at L1 and the senior factor at the executive vice president tier, interpolated by seniority in between.
- Total compensation is rebuilt from its components as base plus target variable plus annualised equity. The source bundles add an 8 to 14 percent notional employer benefit load into a planning figure they call CTC; that load is employer cost rather than pay and has been stripped here.
- Base and total factors coincide for most markets because Boeing applies one target-variable scaffold globally in the source model, so the only element that could separate them is equity, which is zero across the modelled employee ladder.
- Union wage schedules are excluded. IAM and SPEEA agreements set contractual steps, general wage increases and ratification bonuses for roughly 72,000 employees, and no published rate table exists to model them.
- Where no direct city observation exists the cell is modelled and should be read as a planning envelope. Crowdsourced observations exist only for Bengaluru L1 to L4, Australian L1 to L3, Canadian L1 to L4 and a single Seoul L2 record.
Variable Pay & Annual Cash Incentive
From 2025 a single One Company score drives the annual cash incentive for the executive team and more than 100,000 employees worldwide. It is weighted 80 percent on free cash flow, core earnings per share and revenue and 20 percent on safety, quality and programme execution, with each measure able to score between 0 and 200 percent. The 2025 score was 131 percent. Boeing publishes no target percentage table for non-union salaried bands.
| Band | Target | Mechanism | Recent payout |
|---|---|---|---|
L1 Entry / Early Career | 3% of base | Annual cash incentive on the One Company score, where the employee is eligible. Union-represented employees receive their contractual plan instead. | 131% company score in FY2025. The only verified employee target is the SPEEA Puget Sound Employee Incentive Plan at 5 percent, which paid 6.55 percent of eligible earnings. |
L2 Associate | 4% of base | Annual cash incentive on the One Company score; eligibility varies by plan and bargaining status. | 131% company score in FY2025; the band target itself is a planning scaffold. |
L3 Experienced | 5% of base | Annual cash incentive on the One Company score; eligibility varies by plan and bargaining status. | 131% company score in FY2025; the band target itself is a planning scaffold. |
L4 Senior / Lead | 7% of base | Annual cash incentive on the One Company score; eligibility varies by plan and bargaining status. | 131% company score in FY2025; the band target itself is a planning scaffold. |
K First-Line Manager (Grade K) | 10% of base | Annual cash incentive on the One Company score, with a management scorecard element. | 131% company score in FY2025; the band target itself is a planning scaffold. |
L5 Lead / Expert | 10% of base | Annual cash incentive on the One Company score; eligibility varies by plan and bargaining status. | 131% company score in FY2025; the band target itself is a planning scaffold. |
L-MGR Senior Manager (Grade L) | 15% of base | Annual cash incentive on the One Company score, with a management scorecard element. | 131% company score in FY2025; the band target itself is a planning scaffold. |
L6 Principal / Chief Expert | 12% of base | Annual cash incentive on the One Company score; eligibility varies by plan and bargaining status. | 131% company score in FY2025; the band target itself is a planning scaffold. |
M Senior Manager / Delivery Leader (Grade M) | 20% of base | Annual cash incentive on the One Company score, with a management scorecard element. | 131% company score in FY2025; the band target itself is a planning scaffold. |
DIR Director | 30% of base | Annual cash incentive on the One Company score, with a leadership scorecard element. | 131% company score in FY2025; the band target itself is a planning scaffold. |
VP Vice President | 75% of base | Annual executive incentive: the One Company score multiplied by an individual performance multiplier that can run from 0 to 120 percent. | 131% company score in FY2025; every disclosed named executive received a 100 percent individual multiplier. |
EVP SVP / EVP / C-Suite | 90% to 167% of base for the disclosed named executives | Annual executive incentive: the One Company score multiplied by an individual performance multiplier of 0 to 120 percent, with the design and each target disclosed in the proxy. | 131% company score and a 100 percent individual multiplier produced payouts from $763,475 to $2,625,240. |
Executive incentive targets — percent of salary
Named-executive outcomes
| Executive | Target | Paid | Attainment |
|---|---|---|---|
| Kelly Ortberg | $3,000,000 | $3,930,000 | 131% company score, 100% individual |
| Stephanie Pope | $2,004,000 | $2,625,240 | 131% company score, 100% individual |
| Jay Malave | $1,260,000 | $1,650,600 | 131% company score, 100% individual |
| Brian West | $1,144,000 | $1,498,640 | 131% company score, 100% individual |
| Brett Gerry | $960,000 | $1,257,600 | 131% company score, 100% individual |
| Jeffrey Shockey | $582,800 | $763,475 | 131% company score on a prorated target |
Employee payout timing and history
Boeing publishes no bonus target grid for non-union salaried employees, so the L1 to Director targets above are a planning scaffold rather than a disclosed table. The verified employee data points are contractual: the SPEEA Puget Sound Employee Incentive Plan target has been 5 percent of eligible earnings since the 2020 contract, which the 131 percent score turned into 6.55 percent for 2025, and the January 2026 Wichita SPEEA agreement raises its target from 6 to 7 percent and its maximum from 12 to 14 percent with effect from the 2027 payout. The 2023 Employee Incentive Plan paid between about 3.60 and 5.95 percent depending on business unit, and no single verified enterprise percentage was found for 2024.
Sales and special incentives
Boeing does not publish a separate sales commission plan structure for its commercial and defence sales organisations, and no public source establishes quota, accelerator or draw mechanics. Sales and campaign roles appear in postings with the same total rewards language as other salaried roles.
Equity — RSUs, PSUs, Options & ESPP
The broadly accessible vehicle is a purchase plan, not a grant programme. Employees buy shares at 95 percent of fair market value on the last trading day of each three-month offering, and recurring RSUs, performance stock units and options under the 2023 Incentive Stock Plan are award-specific and concentrated in officers and selected leaders.
- The employee stock purchase plan was authorised for 12 million shares. Employees purchased 336,831 shares during 2025 at an average price of $182.28, against 216,719 shares at an average of $193.52 in 2023.
- Boeing did not state a consolidated pool-utilisation percentage across the purchase plan and the incentive plan award types in the reviewed 2025 extracts, so no utilisation rate is published here.
- The 2025 executive grant mix was 55 percent premium-priced options and 45 percent RSUs. The 2026 mix is 30 percent performance stock units, 20 percent cliff RSUs with a hold and 50 percent ratable RSUs.
- Executive arrangements carry clawback provisions and generally avoid automatic change-in-control vesting.
Employee stock purchase plan
Vesting — common reported employee schedule
Boeing's disclosed executive RSU schedule is 33, 33 and 34 percent over three years, not the generic four-year quarter-per-year schedule that third-party salary sites display on its pages. Premium-priced options granted in 2025 vest on a three-year cliff and expire ten years from grant, and they carry no value below a $221.44 strike. The 2026 design adds a two-year holding period on top of the cliff RSU tranche, extending the economic horizon to five years.
Eligibility by hierarchy level
- L1 through grade M: the employee stock purchase plan where eligible and where local law permits the plan to operate. No universal recurring grant is evidenced, and crowdsourced United States, India and Australia records at these levels show near-zero annual stock. That is evidence about reported packages rather than proof of categorical ineligibility.
- Director: selective rather than routine. The source bundles model a $0 to $250,000 annual award range and label it low confidence, so the Director band in this report carries a zero recurring grant.
- Vice President: expected for many officers but not a published schedule. The bundles model a $250,000 to $2.0 million annual range, and stock-ownership guidelines start at this tier at one to two times base salary.
- Executive Vice President: disclosed for named executives, with 2025 aggregate grant-date values of $10.0 million for Pope, $6.0 million for West, $5.0 million for Shockey and $4.5 million for Gerry, plus $9.5 million of new-hire replacement equity for Malave.
- Chief Executive: a $17.5 million 2025 long-term incentive target and a six times base salary ownership requirement with a five-year attainment period.
- Non-employee directors: an annual $200,000 stock-unit retainer, generally not distributed until after Board service ends.
Indicative annual grant value by band — Arlington
| Band | Annual value (USD) | Median | Shares at $211.08 |
|---|---|---|---|
| VP | $844K – $1.41M | $1.13M | ~3,997–6,662 |
| EVP | $4.50M – $7.50M | $6.00M | ~21,319–35,532 |
Annualized planning value (±25%), not the face value of every new-hire grant. Share equivalents use the $211.08 reference price at 25 August 2026 close and ignore plan valuation rules and PSU performance. Highlighted rows are disclosed grant-date stock awards.
Named executive target equity
| Executive | Target | Units / structure |
|---|---|---|
Kelly Ortberg President and Chief Executive Officer | $17.50M | 42,675 RSUs plus 121,023 premium-priced options at a $221.44 strike, split 45 percent RSUs and 55 percent options |
Stephanie Pope President and Chief Executive, Boeing Commercial Airplanes | $10.00M | 24,386 RSUs plus 69,156 premium-priced options at a $221.44 strike |
Jay Malave Executive Vice President and Chief Financial Officer | $9.50M new-hire equity | 21,373 new-hire RSUs plus 44,321 new-hire premium-priced options at a $280.73 strike; replacement rather than annual award |
Brian West Former Executive Vice President and Chief Financial Officer | $6.00M | 14,631 RSUs plus 41,493 premium-priced options at a $221.44 strike |
Jeffrey Shockey Executive Vice President, Government Operations and Corporate Strategy | $5.00M | 13,904 new-hire RSUs plus 6,257 long-term incentive RSUs and 17,785 premium-priced options at a $215.75 strike |
Brett Gerry Executive Vice President and Chief Legal Officer | $4.50M | 10,973 RSUs plus 31,120 premium-priced options at a $221.44 strike |
Executive Compensation
Boeing's 2025 Summary Compensation Table covers six named executives, including two chief financial officers because Jay Malave joined during the year and Brian West left the role. Grant-date stock and option values dominate every row, and the 2023 to 2025 performance-unit cycle that settled at nil is the clearest demonstration that those values are accounting measures rather than realised pay.
Reading the package
Salary was 6.4 percent of Ortberg's reported total, stock awards 33.4 percent, option awards 40.8 percent, the annual cash incentive 16.7 percent and other compensation 2.8 percent. Equity was therefore 74.2 percent of the headline figure, but 40.8 percentage points of that sat in premium-priced options struck at $221.44, which deliver nothing unless the shares clear the premium. Other compensation included perquisites, tax assistance and retirement contributions, with corporate aircraft use the largest specifically identified item.
Boeing's chief executive package sits in the middle of the large United States aerospace and defence group and within roughly 10 percent of every peer, despite Boeing being much the largest of them by revenue and headcount. The comparison is Summary Compensation Table totals, which are grant-date accounting values, so it ranks intended pay rather than realised value. Award design matters more than the headline: Boeing was alone among these companies in loading more than half its 2025 executive long-term incentive into premium-priced options.
Named Executive Officers & Board
Only named executive officers carry a compensation table. The wider officer group is visible through Section 16 filings and the governance pages alone.
Malave's $20.18 million total is not a steady-state run rate. It contains $8.5 million of non-recurring new-hire cash and $9.5 million of replacement equity against only $399,808 of salary for a partial year, so his ongoing annual target is far lower. Shockey similarly received a one-time new-hire equity award inside his $5.0 million figure. Boeing reviews executive base salaries in February: Gerry received an approximately 7 percent adjustment towards market median in 2025 and West a 4 percent cost-of-living increase, which shows the company does not apply a uniform merit percentage even at officer level.
Board compensation framework
| Element | Amount | Notes |
|---|---|---|
| Annual cash retainer | $135,000 | Standard retainer for non-employee directors in 2025, before any role-based addition. |
| Annual stock-unit retainer | $200,000 | Granted as deferred stock units that generally are not distributed until after Board service ends, aligning director pay with long-term ownership. |
| Independent Board Chair addition | $250,000 | Paid to Steven Mollenkopf on top of the standard retainers, taking his 2025 total to $614,500. |
| Committee chair additions | $15,000 to $50,000 | Range across the Board's standing committees, scaled to committee workload. |
| Charitable gift matching | Up to $31,000 | Boeing matched eligible non-profit gifts for directors up to this amount during 2025. |
| Director ownership requirement | Multiple of the cash retainer | Expressed as a multiple of the annual cash retainer with staged expectations after three and six years of service. |
Executive officers employed by Boeing receive no additional compensation for Board service, so Kelly Ortberg's director role is unpaid. The deferred settlement of the stock-unit retainer is the distinguishing feature of the programme: directors accumulate units through their tenure and receive shares only afterwards, which keeps their economic exposure to the share price running through the whole period of their oversight.
Regional heads and other officers
Compensation for the chief human resources officer, chief engineer, chief information officer, regional presidents and most business presidents is not separately disclosed because they do not qualify as named executive officers. Uma Amuluru and Howard McKenzie appear in this report only through their Form 4 filings. Stock-ownership guidelines are the one public quantification of the tier: six times base salary for the chief executive, four times for executive vice presidents, three times for senior vice presidents and generally one to two times for vice presidents, with a five-year attainment period.
Insider Trades — SEC Forms 3/4/5
Boeing is a New York Stock Exchange issuer, so SEC Forms 3, 4 and 5 and Form 144 are the applicable insider regime. No Boeing India listed subsidiary triggering Indian exchange, SEBI takeover or promoter-group reporting was identified.
| Date | Person | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-17 | Jay Malave Executive Vice President and Chief Financial Officer | Withholding Shares retained by Boeing to satisfy tax on an RSU vesting, not a discretionary market sale. | 4,205 | $228.65 | $962K |
| 2026-08-10 | Kelly Ortberg President and Chief Executive Officer | Withholding Tax withholding on an RSU vesting reported on Form 4 as a code F disposition. | 6,233 | $234.09 | $1.46M |
| 2026-02-24 | Uma Amuluru Executive Vice President and Chief Human Resources Officer | Sale Open-market sale reported on Form 4 with a matching Form 144 notice. | 1,503 | $233.79 | $351K |
| 2026-02-19 | Kelly Ortberg President and Chief Executive Officer | Withholding Tax withholding on the February vesting tranche; aggregated from Form 4 lines. | 5,017 | $236.71 | $1.19M |
| 2026-02-19 | Brian West Former Executive Vice President and Chief Financial Officer | Withholding Tax withholding on a legacy RSU vesting after leaving the chief financial officer role. | 1,446 | $236.71 | $342K |
| 2026-02-19 | Howard McKenzie Chief Engineer and Executive Vice President | Withholding Tax withholding on an RSU vesting for an officer who is not a named executive. | 966 | $236.71 | $229K |
| 2026-02-17 | Kelly Ortberg President and Chief Executive Officer | Award Equity award reported as a zero-price acquisition. The Form 4 states no price, so no grant-date value can be calculated from the filing alone. | 58,097 | — | $0 |
| 2026-02-17 | Howard McKenzie Chief Engineer and Executive Vice President | Award Equity award reported as a zero-price acquisition with no stated price on the filing. | 9,248 | — | $0 |
| 2026-02-05 | Howard McKenzie Chief Engineer and Executive Vice President | Sale Proposed open-market sale notified on Form 144 rather than a completed Form 4 transaction. | 10,497 | $233.99 | $2.46M |
| 2026-02-04 | Uma Amuluru Executive Vice President and Chief Human Resources Officer | Sale Open-market sale following the February vesting window. | 2,731 | $236.00 | $645K |
| 2025-05-01 | Stephanie Pope Executive Vice President; President and Chief Executive, Boeing Commercial Airplanes | Sale The largest single open-market disposition in the reviewed window, executed roughly 27 percent below the February 2026 price level. | 16,768 | $183.78 | $3.08M |
| 2025-05-01 | Michael Cleary Senior Vice President and executive officer | Sale Open-market sale on the same day as the Pope disposition. | 2,000 | $184.01 | $368K |
Reading guide
Benefits & Perks
United States benefits are documented in detail on Boeing's own benefits and careers pages, and the United Kingdom and Australia have partial published provisions. Everywhere else Boeing describes an international framework of locally appropriate healthcare, retirement, leave and employee assistance without publishing a contribution table, so those rows record the statutory baseline and mark the Boeing enhancement as undisclosed.
United States
- Retirement — 401(k) match. Dollar-for-dollar match on the first 10 percent of eligible pay for most non-union employees, with immediate vesting of company contributions. Collective agreements and plan eligibility can differ. [official]
- Retirement — Student-loan match. Current postings reference a mechanism that matches qualifying student-loan repayments into the retirement plan for eligible employees. [official]
- Health — Medical, dental and vision. Multiple health and insurance choices with eligibility generally beginning on the first day of the month after hire. Provider and payroll contribution depend on plan and location. [official]
- Family — Paid parental leave. Up to 12 weeks at full pay under the published United States programme, subject to eligibility rules. [official]
- Family — Adoption and surrogacy assistance. Up to $10,000 per adoption for up to two adoptions, and up to $15,000 of surrogacy assistance in a lifetime. [official]
- Education — Learning Together tuition assistance. Up to $15,000 a year for undergraduate study and $25,000 for graduate study, with eligible STEM programmes potentially fully funded. Boeing reported about 12,000 users and 5.8 million learning hours in 2025. [official]
- Wellbeing — Employee assistance and mental health. Counselling and coaching support referenced in published materials; vendor and allowance can change. [official]
- Wellbeing — Charitable gift matching. Matching of eligible charitable contributions and volunteer activity up to $10,000 a year, subject to law and programme rules. [official]
- Protection — Life, disability and paid time off. Available under plan and posting descriptions. Exact coverage and paid time off depend on employment category or the applicable collective agreement. [official]
Global programs
- Equity — Employee stock purchase plan. Shares bought at 95 percent of fair market value on the last trading day of each three-month offering, where the plan operates and the employee is eligible. [official]
- Education — Learning Together. The global tuition and education support programme, with about 12,000 users and 5.8 million learning hours reported for 2025. [official]
- Wellbeing — International employee assistance. Boeing's international framework describes an employee assistance programme available to international employees alongside recognition awards and mobility support. [official]
- Cash — Annual incentive eligibility. More than 100,000 employees worldwide were tied to the single One Company score from the 2025 performance year, replacing separate business-unit scores. [official]
- Leave — Time away from work. Boeing states that time-off provisions vary by country, hire date, business unit and bargaining status, and publishes no global leave matrix. [npd]
Benefit fields not publicly quantified
Boeing explicitly warns that benefit programmes vary by location, hire date, subsidiary or business unit and bargaining status, and it publishes no country-by-country contribution table outside the United States and partially the United Kingdom and Australia. The India health insurer and sum insured, the India leave schedule and allowance amounts, the Australian employer superannuation rate above the statutory 12 percent, the Canadian national retirement contribution and any pan-European benefits grid are all not publicly disclosed and should only be populated from a country policy document or an offer letter.
Performance Review & Pay Progression
Boeing introduced a refreshed Performance and Development process in July 2025 that assesses both what an employee delivers and how they demonstrate the company's values and behaviours, with the how dimension weighted more heavily for employees whose incentive carries an individual multiplier. Beyond that framing, almost nothing about the rating machinery is public.
Not publicly disclosed
Modeled promotion planning timeline
| Band | Years to next scope | Promotion hike | Status |
|---|---|---|---|
| L1 | About 2 years to L2 | Not disclosed | Modeled planning interval |
| L2 | About 3 further years to L3 | Not disclosed | Modeled planning interval |
| L3 | About 4 further years to L4 | Not disclosed | Modeled planning interval |
| L4 | About 5 further years to L5 | Not disclosed | Modeled planning interval |
| K | Selection into people leadership, not an automatic step from L4 | Not disclosed | Modeled planning interval |
| L5 | About 6 further years to L6 | Not disclosed | Modeled planning interval |
| L-MGR | Scope-driven; Boeing publishes no tenure rule for K to L | Not disclosed | Modeled planning interval |
| L6 | Highest professional grade routinely visible in postings | Not disclosed | Modeled planning interval |
| M | Scope-driven; Boeing publishes no tenure rule for L to M | Not disclosed | Modeled planning interval |
| DIR | No published tenure; appointment is scope-driven | Not disclosed | Modeled planning interval |
| VP | Appointed rather than promoted | Not disclosed | Modeled planning interval |
| EVP | Board-appointed officer tier | Not disclosed | Modeled planning interval |
Posting language is the only public evidence of career timing. Level 2 requisitions commonly cite two or more years, Level 3 five or more, Level 4 nine or more, and some Level 5 and Level 6 postings cite 14 and 20 years respectively. Movement into the grade K first-line manager population is a separate leadership selection at roughly 8 to 14 years, not an automatic step off the technical ladder, and Boeing publishes no tenure rule for grade K into L or M. The technical fellowship offers a parallel route for people who do not want to manage, but its pay equivalence to Director or Vice President is not public.
Pay progression evidence
Three different mechanisms run in parallel. Non-union salaried employees receive base adjustments, promotion increases, market corrections and the annual incentive, none of which Boeing quantifies publicly. Union-represented employees receive contractual wage steps, general wage increases, progression rules and ratification bonuses: the 2024 IAM 751 agreement carried 38 percent of nominal general wage increases over four years, approximately 43.65 percent compounded, and the January 2026 Wichita SPEEA agreement schedules wage pool increases of 5 percent in July 2026 and then 3.5, 4, 3.5 and 4 percent in the following four Marches with a 2 percent individual floor. Executives receive a February Board salary review, and the 2025 proxy shows a roughly 7 percent market adjustment for one officer and a 4 percent cost-of-living increase for another, which demonstrates that even at that level there is no uniform merit percentage.
H-1B / LCA Visa Footprint — United States
Boeing is a light H-1B sponsor for a company of 182,000 people, and its filings cluster in engineering worksites rather than at the Arlington headquarters. The FY2025 record set contains 49 certified labour condition applications across 16 cities. Every wage below is the offered base salary on the application, not total compensation.
Dataset summary
| Dataset | Result | Interpretation |
|---|---|---|
| H1BData FY2025 record set | 49 records; median $119,475; 25th percentile $116,854; 75th percentile $144,934; range $79,331 to $272,717 | A secondary interface over Department of Labor records. This is the basis for the city table below. |
| MyVisaJobs FY2025 | 53 certified applications; average salary $140,889 | Broader entity and time aggregation than the H1BData snapshot, which is why the count and the average both run higher. |
| MyVisaJobs FY2026 | 72 applications; 23 Form I-129 decisions with 21 approved and 2 denied | The same page also displays 8 green-card petitions and 41 prevailing-wage determinations, and its internal totals do not reconcile. Do not merge them blindly. |
| H1BGrader FY2026 legal-name subset | 13 applications, 100 percent certified in the displayed subset | A narrower legal-entity filter than MyVisaJobs. The gap between 13 and 72 is the clearest illustration of how much entity matching changes the answer. |
City-level H-1B wage history
| City | P25 | Median | P75 | Records |
|---|---|---|---|---|
Seal Beach, CA Space and satellite engineering; the single largest concentration at a third of all FY2025 records. | $117K | $127,848 | $145K | 16 |
Seattle, WA Commercial Airplanes engineering; the widest internal spread of any worksite. | $123K | $136,843 | $177K | 6 |
North Charleston, SC 787 manufacturing and engineering; the lowest median of any multi-record worksite. | $88K | $108,555 | $117K | 6 |
Everett, WA Widebody final assembly and engineering; the highest median among multi-record worksites. | $123K | $150,270 | $171K | 4 |
Dallas, TX Services and digital roles; one filing at $190,000 pulls the 75th percentile well above the median. | $92K | $98,972 | $127K | 4 |
Long Beach, CA Space and avionics engineering; a tight two-record band. | $122K | $127,046 | $132K | 2 |
Renton, WA 737 programme engineering; contains the lowest single wage in the set at $79,331. | $99K | $118,066 | $137K | 2 |
Glendale, AZ Single record; percentiles necessarily equal the one filing. | $190K | $190,000 | $190K | 1 |
Centennial, CO Single record; percentiles necessarily equal the one filing. | $180K | $179,729 | $180K | 1 |
Englewood, CO Single record; percentiles necessarily equal the one filing. | $162K | $161,886 | $162K | 1 |
Indian Trail, NC Single record; percentiles necessarily equal the one filing. | $160K | $160,000 | $160K | 1 |
Auburn, WA Fabrication site; single record. | $136K | $136,427 | $136K | 1 |
Irving, TX Single record; percentiles necessarily equal the one filing. | $125K | $124,930 | $125K | 1 |
SeaTac, WA Single record; percentiles necessarily equal the one filing. | $119K | $119,475 | $119K | 1 |
Mukilteo, WA Single record; percentiles necessarily equal the one filing. | $115K | $115,211 | $115K | 1 |
Kent, WA Single record and the lowest worksite median in the set. | $86K | $85,821 | $86K | 1 |
All-years aggregates. P25/P75 are rounded reconstruction values marked modeled; medians and record counts are the stronger fields.
Selected title / worksite records
| Title | Worksite | Proffered wage | Notes |
|---|---|---|---|
| Associate AI Researcher | Ellicott City, MD | $167,981 | An FY2026 filing well above the FY2025 median, reflecting a research rather than production engineering role. |
| Engineer | Seal Beach, CA | $145,246 | An FY2026 filing at Boeing's largest single sponsorship worksite, about 14 percent above the FY2025 Seal Beach median. |
Reading the data correctly
- The wage on a labour condition application is the offered base salary. It excludes the annual incentive, any equity and any allowance, so it is not comparable with the total compensation figures elsewhere in this report.
- Single-record cities have no meaningful percentile distribution: the 25th percentile, median and 75th percentile all equal the one filing.
- Counts differ sharply between providers, from 13 to 72 applications for FY2026 depending on legal-entity matching, fiscal-year cut-off, amendment inclusion and refresh timing. This report preserves the discrepancy rather than adopting the largest count.
- The 91.3 percent figure is 21 approvals over 23 displayed Form I-129 decisions in one snapshot. It is not a company-wide lifetime approval rate and should not be combined with labour condition application certification rates, which measure a different step.
- Defence and space work carries security-clearance requirements that many visa holders cannot meet, which is the structural reason a company of Boeing's size sponsors so few H-1B workers relative to comparable technology employers.
Key Nuances & Insights
The L1 to L6 and grade K, L and M codes are unusually well evidenced because Boeing quotes them alongside a base range in United States postings. What does not exist is a universal global midpoint table. Job family, union status, security clearance, programme and city all move pay materially at the same level, and a Level 3 engineering example spans roughly $110,000 to $135,000 in lower-cost markets against $135,000 to $183,000 in Northern Virginia.
Boeing's broadly accessible stock vehicle buys shares at 95 percent of fair market value with no lookback, which is worth about 5.3 percent on the money contributed. It is not an option or restricted stock grant, and the public record shows no routine free equity for the L1 to grade M population. Describing Boeing as operating a universal employee share-ownership plan misreads the disclosure.
Ortberg's 2025 grant-date equity of $17.5 million was almost twelve times his salary, but 55 percent of it was premium-priced options struck at $221.44, which pay nothing below that level. Grant-date fair value is an accounting measure, and the separate 2023 to 2025 performance-unit cycle settled at zero in February 2026.
Moving from a 55 percent premium-priced option mix to 30 percent performance stock units, 20 percent cliff restricted stock units with a two-year hold and 50 percent ratable restricted stock units shifts the balance among leverage, measured performance and retention. It also lengthens the economic horizon on part of the package to five years.
Consolidating separate business-unit incentive scores into a single One Company score from 2025 improves enterprise alignment and makes safety and quality a shared financial interest. It also removes any insulation an employee in one business had from problems in another, and it makes the annual incentive conversation a company-level rather than a team-level one.
Roughly 72,000 employees, about 40 percent of the workforce, are covered by collective agreements with contractual wage steps, general increases, bonus targets and progression rules. A salaried merit model cannot be applied to them, and none of the bands in this report describe their pay. The 2024 IAM 751 agreement carried 38 percent of nominal general wage increases over four years and the 2025 IAM 837 settlement reportedly carried 24 percent of wage growth plus a $6,000 ratification bonus.
On 21 August 2026 roughly 17,000 SPEEA-represented engineers and technical workers rejected Boeing's four-year offer, engineers by 64 percent and technical workers by about 72 percent, citing increases that lagged Seattle-area inflation. No further talks were scheduled, the contract expired on 6 October 2026 and the earliest possible strike date was 7 October 2026. The rejected terms, including its wage pools and proposed restricted stock unit award, are excluded from every table here because they are not active policy.
The Boeing India Engineering and Technology Centre in Bengaluru is Boeing's largest facility of its kind outside the United States, and India's roughly 7,000 employees do global engineering, digital and product-support work rather than a client-site rotation. Compensation arbitrage is real, but it should not be read as the classic onsite-offshore billing ladder of an IT services vendor.
Bengaluru sits at roughly 13 percent of the Arlington anchor at L1 and at roughly 55 percent at the officer tier, so the multiple falls from about seven and a half times to under two. That compression is a cash-market effect: senior Indian leadership competes in a global market for scarce programme experience while entry-level engineering competes locally.
Boeing-specific evidence for India above L4, Australia above L3, and every level in the United Kingdom, continental Europe, Asia and the Gulf is thin or absent. Those cells are explicitly modelled from local market anchors. The Gulf columns, which exceed the anchor at leadership levels because of expatriate packaging in a tax-free jurisdiction, are the least reliable rows in the table.
Boeing's fellowship runs from Associate Technical Fellow to Distinguished Senior Technical Fellow, giving deep technical authority a route that does not require managing people. The pay equivalence to Director or Vice President is not public, so fellows are folded into the L5 and L6 rows here rather than given a band of their own.
Award documents under the 2023 Incentive Stock Plan permit cash settlement or local modification where securities, tax or administrative rules make share settlement impracticable. An equity figure quoted for a non-United States leader is therefore not necessarily shares.
Twenty percent of the annual incentive score is safety, quality and programme execution, and Boeing describes compensation as part of its safety-accountability architecture. That is unusual weight for a non-financial measure in a large-cap annual bonus and it is the most distinctive feature of the plan design.
Boeing announced a roughly 10 percent workforce reduction during the 2024 crisis, yet year-end headcount rose from about 172,000 in 2024 to about 182,000 in 2025. Gross reductions, redeployment, hiring and the December 2025 Spirit AeroSystems acquisition coexisted, so announcement counts should never be read as net headcount.
Boeing identified its 2025 median employee after excluding 16,961 Spirit AeroSystems employees acquired on 8 December 2025 under the SEC acquisition exemption. The $141,933 median therefore describes the pre-acquisition workforce, and the 2026 ratio will not be directly comparable once those employees enter the population.
The reviewed materials do not provide a country-by-country adjusted pay-gap analysis detailed enough to support band-level conclusions, and no lateral-versus-internal premium is quantifiable from public evidence.
Research control
Against Lockheed Martin, Northrop Grumman, General Dynamics and RTX, Boeing's disclosed chief executive package sits fourth of five and within roughly 10 percent of every peer, despite Boeing being the largest of the group by revenue and headcount. At employee level the comparison is harder because none of the peers publishes a level-coded posting range as consistently as Boeing does. What distinguishes Boeing is not the level of pay but the structure: an enterprise-wide incentive score covering more than 100,000 people, an explicit 20 percent safety and quality weighting, a purchase plan rather than a grant programme for the broad population, and roughly 40 percent of the workforce on contractual union wage schedules rather than a merit model.
Evidence classification
| Label | Meaning | Examples and permitted use |
|---|---|---|
| official | A Boeing filing, an official benefit page, a government rule or a salary-transparent Boeing job posting. | Quote directly. Covers the L1 to grade M anchor ranges, all executive compensation, the equity plan terms and the United States benefits. |
| reported | Employee-submitted pay, a labour condition application wage or a third-party salary record. | Treat as an observation of what some people received, not as a Boeing schedule. Covers Bengaluru L1 to L4, Australian L1 to L3, Canadian L1 to L4, a single Seoul L2 record and every H-1B wage. |
| modeled | The Arlington anchor multiplied by a city calibration factor and the 25 August 2026 foreign-exchange snapshot. | Use as a planning envelope only. Covers every non-United States cell and the Director and Vice President rows. |
| npd | Not publicly disclosed in any reviewed source. | Left explicitly blank rather than estimated. Covers the rating scale, merit percentages, most country benefit contributions and the non-union bonus target table. |
Explicit “Not publicly disclosed” index
Known gaps and diligence before relying on a cell
- 1The chief executive row is deliberately absent from the band table. Boeing's chief executive salary is a single global figure of $1,500,000 that both source bundles convert identically into every city column, so carrying it into the ladder would force every location factor towards parity at the top and produce absurd offshore cells. The full package is presented in the executive section instead.
- 2Union-represented employees are excluded from the bands. Roughly 72,000 people are covered by IAM and SPEEA agreements whose contractual wage steps run on a different logic from the salaried ladder, and neither bundle contains a negotiated wage-scale rate table that could be modelled. Only percentage outcomes are public: 38 percent of nominal general wage increases over the 2024 IAM 751 agreement, a reported 24 percent plus a $6,000 ratification bonus in the 2025 IAM 837 settlement, and the 2026 Wichita SPEEA wage-pool schedule. Those figures appear in the progression and news sections rather than in any band anchor.
- 3The source bundles compute a planning figure they call CTC as base plus target variable plus an 8 to 14 percent notional employer benefit load plus any equity range. That load is employer cost rather than employee pay, and it has been stripped here: every usTotal is rebuilt as base plus target variable plus annualised equity so the components reconcile.
- 4The two bundles disagree on the foreign-exchange snapshot. One uses 95.41 rupees to the dollar and the other 95.3594, with similar sub-0.1 percent differences on other crosses. This report uses the first bundle's rates throughout because they are the set the larger bundle's location matrix was built on.
- 5The two bundles also disagree on peer coverage: the larger one includes Northrop Grumman at $25,357,443 in the chief executive comparison and the smaller one omits it. Both agree on Lockheed Martin, General Dynamics and RTX, so Northrop Grumman is retained.
- 6Director and Vice President anchors have no salary-transparent posting behind them. Boeing posts ranges up to grade M and stops, so those two rows are market models and are labelled as such. The Vice President row is excluded from the range chart because its modelled equity component blows out the scale.
- 7Equity is recorded as zero for every band from L1 through Director. That reflects an absence of evidence for a routine grant rather than proof of ineligibility: the bundles model a selective $0 to $250,000 range at Director, and occasional recognition or negotiated awards below that are possible but are not a published band entitlement.
- 8Base and total calibration factors are identical for every market because the source model applies one global target-variable scaffold and no market carries employee equity. Where a company has genuinely different local bonus practice, those two factors would separate; here there is no evidence to separate them.
- 9No geographic revenue split is presented. Boeing reports revenue by segment rather than by region in the material reviewed for these bundles, so the panel is omitted rather than filled with a segment split relabelled as geography.
- 10H-1B application counts differ by a factor of five between providers for FY2026, from 13 on a narrow legal-entity filter to 72 on a broad one. Both are reported rather than reconciled, because neither bundle contains the entity-level mapping needed to choose between them.
FX rates used — 1 USD equals, snapshot 2026-08-25
Single-date conversion layer for comparability; it ignores payroll-date FX, tax, purchasing power, benefits valuation and hedging. Compensation intelligence, not legal, tax, investment, immigration or employment advice.
Source register — 20 sources
| S01 | 2026 Proxy Statement (DEF 14A) · The Boeing Company via SEC · 2026. Named-executive compensation, annual incentive design and outcomes, long-term incentive structure, ownership guidelines, director pay and the pay ratio. |
| S02 | FY2025 Annual Report and Form 10-K · The Boeing Company via SEC · FY2025, filed 2026. Revenue, workforce, union coverage, stock plans, employee stock purchase plan activity and benefit-plan disclosures. |
| S03 | Full-Year 2025 and Q1/Q2 2026 results releases · The Boeing Company · 27 Jan, 22 Apr and Jul 2026. Revenue, deliveries, backlog and free cash flow that feed the incentive scorecard. |
| S05 | United States salary-transparent job postings · Boeing Careers · 2025–2026. The L1 to L6 technical ladder, the K, L and M management grades, experience thresholds and city base ranges. |
| S08 | Benefits and total rewards pages · Boeing and BoeingBenefits.com · Accessed Aug 2026. 401(k) match, tuition assistance, parental leave, adoption and surrogacy assistance, and wellbeing programmes. |
| S09 | United Kingdom careers and benefits materials · Boeing UK · Accessed Aug 2026. Pension, BUPA medical, sickness and disability cover, life assurance and incentive eligibility. |
| S10 | Australia careers and current postings · Boeing Australia · Accessed Aug 2026. Bonus language, superannuation options, discounts, Fitness Passport and novated leasing. |
| S15 | Forms 4 and 144 for Boeing insiders · SEC EDGAR · 2025–2026. Insider sales, equity awards and tax-withholding transactions. |
| S16 | 2023 Incentive Stock Plan award forms · The Boeing Company · 2023–2026. RSU, performance unit and option terms, and international cash-settlement provisions. |
| S18 | Employee Incentive Plan communications · Boeing and SPEEA · 2022–2026. The 5 percent SPEEA target, the 6.55 percent 2025 payout and the 2023 range of 3.60 to 5.95 percent. |
| S20 | IAM 751 and IAM 837 contract announcements · Boeing and IAM · 2024–2025. Union wage progression, ratification bonuses and pension provisions. |
| S22 | Boeing engineers and technical workers reject offer · Reuters · 21 Aug 2026. SPEEA vote results, membership size, bargaining status and contract expiry. |
| S23 | Crowdsourced compensation records · Levels.fyi · Aug 2026. United States, India, Australia, Canada and Seoul employee-submitted packages by level. |
| S28 | FY2025 labour condition application records · H1BData over Department of Labor data · FY2025 snapshot. The 49-record wage set and its city-level distribution. |
| S29 | Boeing immigration profile · MyVisaJobs · Updated 18 Aug 2026. Broader application counts, petition decisions and example FY2026 offered wages. |
| S30 | Boeing sponsor profile · H1BGrader · FY2026 snapshot. Legal-entity-filtered application count, wage-level distribution and certification rate. |
| S31 | Daily and reference exchange rates · Reserve Bank of Australia and European Central Bank · 25 Aug 2026. Every currency cross used in this report. |
| S40 | 2026 peer proxy statements · Lockheed Martin, Northrop Grumman, General Dynamics and RTX via SEC · 2026. FY2025 peer chief executive compensation. |
| S41 | NYSE market data for BA · New York Stock Exchange · 25 Aug 2026 close. The $211.08 share price used for equity share-count illustrations. |
| S46 | Company profile and global presence pages · The Boeing Company · Accessed Aug 2026. The 182,000 employees in more than 65 countries figure and the regional footprint. |
Recent News & Workforce Trend
Two things dominate the recent compensation record: the consolidation of the annual incentive into one enterprise score covering more than 100,000 employees, and an unresolved white-collar contract dispute that was live at the research cut-off.
The 2024 to 2025 increase of roughly 10,000 people ran directly against an announced 10 percent workforce reduction, because gross reductions, redeployment, rehiring and the Spirit AeroSystems acquisition all landed in the same period. Union coverage grew faster than headcount, from about 58,000 to about 72,000, which is a structural change in how much of Boeing's payroll is set by contract rather than by merit review. Boeing publishes no company-wide attrition rate, and the 79 percent of employees who said they were proud to work at Boeing in the 2026 survey, up 12 points, is an engagement measure rather than a turnover one.
Roughly 17,000 engineers and technical workers voted the proposal down, engineers by 64 percent and technical workers by about 72 percent, citing increases that lagged Seattle-area inflation against an offer capped at 3 percent of inflation-linked increases plus individual performance elements. No further talks were scheduled at the cut-off, the contract expired on 6 October 2026 and the earliest possible strike date was 7 October 2026. The rejected wage pools, incentive target change and proposed restricted stock unit award are excluded from every table in this report.
One enterprise score, weighted 80 percent on free cash flow, core earnings per share and revenue and 20 percent on safety, quality and programme execution, set the annual cash incentive for the executive team and more than 100,000 employees. For a SPEEA Puget Sound member on a 5 percent target it produced 6.55 percent of eligible earnings.
The three-year cumulative free cash flow condition finished below threshold and the awards settled at nil in February 2026. It is the clearest available demonstration that a grant-date value in the Summary Compensation Table is not income.
Premium-priced options were removed from new grants and performance stock units reintroduced. The 2026 mix is 30 percent performance units measured half on cumulative free cash flow and half on relative total shareholder return, 20 percent three-year cliff restricted stock units with a two-year post-vesting hold, and 50 percent ratable restricted stock units.
The transaction added a substantial acquired workforce and is the main reason year-end headcount rose despite announced reductions. Boeing excluded 16,961 Spirit employees from its 2025 median-employee identification under the SEC acquisition exemption, so the 166:1 pay ratio describes the pre-acquisition population.
The five-year agreement reportedly carried about 24 percent of wage growth and a $6,000 ratification bonus for defence production employees in Missouri. It is a contractual schedule, not a merit outcome, and it applies to none of the bands in this report.
The refreshed process assesses both what an employee delivers and how they demonstrate the company's values, with the how dimension weighted more heavily for employees whose incentive carries an individual multiplier. Boeing published no rating scale, distribution or increase matrix alongside it.
The Puget Sound production agreement carried 38 percent of nominal general wage increases over its term, approximately 43.65 percent compounded, plus ratification and pension provisions. It reset the pay expectations that the 2026 SPEEA negotiation was measured against.