How Carnival Pays
Carnival's S1 to S10 shoreside ladder and its entirely separate M1 to M6 shipboard hierarchy, priced across 16 markets alongside 2020 Stock Plan RSUs, performance RSUs that settled at 170.4 percent of target, a 1993 ESPP, an $18.89M CEO package at 1,063:1, and 54 FY2026 H-1B filings.
Band Hierarchy
Carnival publishes no global grade system and no title-to-grade catalogue. The S1 through S8 shoreside rows priced here are an analytical normalization built from current job postings, visa wage records and employee submissions. The shipboard M1 to M6 hierarchy is described but deliberately not priced on the same scale, because a fixed-length maritime contract with housing, meals and gratuities is not comparable to a twelve-month shoreside salary.
Shoreside ladder — S1 through S8
Disclosed executive layer
Track divergence
Hierarchy qualifications and legacy structures
- Carnival describes structured goal setting, check-ins, formal evaluations and succession pipelines in its Form 10-K, but it has never published a numerical grade system or a title-to-grade catalogue for any brand.
- The group operates eight consumer brands, Carnival Cruise Line, Princess, Holland America Line, Seabourn, P&O Cruises, Cunard, AIDA and Costa, each of which can use different titles and market practices for economically similar roles. A single harmonised ladder should not be assumed simply because they share a parent.
- P&O Cruises Australia was integrated into Carnival Cruise Line during 2025, so historical P&O Australia titles and pay observations carry a legacy break and are not treated as a separate ongoing hierarchy.
- The May 2026 unification of the dual-listed company simplified the legal and listing structure but Carnival stated it did not change team-member roles, leadership or underlying operations. It is not evidence of pay-band harmonisation.
- Roughly 48 percent of shipboard and 21 percent of shoreside employees were covered by collective bargaining agreements in 2025, so for a substantial minority of the workforce pay is set by agreement rather than by any company band structure.
- Only the chief executive, the named executive officers and the board carry a disclosed compensation figure. Every row below them in this report is a third-party observation or a model built on one.
Peer-level mapping
| Band | Archetype | Peer mapping | Caveat |
|---|---|---|---|
| S1 | Coordinator / Personal Cruise Advisor | Royal Caribbean guest services coordinator, Norwegian reservations agent, Hilton and Marriott corporate coordinator | Cruise-line entry titles vary by brand and are not standardised across Carnival's own eight brands, so this row is scope-based orientation only.No Miami entry-level range is published. Set below the $72,200 floor of the lowest employer-posted Miami analyst range and cross-checked against the Southampton Personal Cruise Advisor observation of £17,000 to £22,000. |
| S2 | Analyst / Specialist | Royal Caribbean revenue analyst, Norwegian pricing analyst, Marriott corporate analyst | Carnival publishes no peer-level crosswalk; the mapping compares observed scope rather than any grade equivalence.Midpoint of the Miami Performance Analytics Analyst posted range of $72,200 to $97,500. The annual cash bonus is confirmed by current US recruiting language but no target percentage is published, so the bonus line is modeled. |
| S2-T | Solutions Developer / Technology Analyst | Royal Caribbean software developer, Norwegian application analyst, Booking Holdings developer | Technology roles sit in the same normalized band as commercial analysts but are recruited against a separate labour market.Doral labour condition application guaranteed base of $83,658 for a Solutions Developer. A $68,474 Analyst, Onboard Revenue record and an $82,867 FOC Watch Leader record sit in the same cluster. |
| S3 | Senior Analyst / Senior Specialist | Royal Caribbean senior analyst, Norwegian senior specialist, Hilton senior corporate analyst | The Miami and Seattle senior-analyst ranges overlap the analyst ranges almost entirely, so the step between S2 and S3 is smaller than a title change implies.Set in the upper half of the two employer-posted senior-analyst ranges, Miami Senior Analyst Finance at $71,200 to $96,100 and Seattle Senior Analyst Benefits at $70,000 to $95,000, so the senior professional row sits above the analyst row. |
| S3-T | Senior Software Engineer / Senior DBA | Royal Caribbean senior software engineer, Norwegian senior systems engineer, Booking Holdings senior engineer | These are visa wage records for sponsored roles, which skew technical and are guaranteed base only with no bonus or equity attached.Midpoint of the Fort Lauderdale Senior Software Engineer record at $125,445 and the Tampa Senior Database Administrator record at $103,917. The FY2026 sponsor median across all Carnival filings was $115,440. |
| S4-M | Technical / Marine Superintendent | Royal Caribbean marine superintendent, Norwegian technical superintendent, V.Group technical manager | Superintendent roles compete with the marine and offshore labour market rather than the corporate market, so a like-titled manager comparison misleads.Midpoint of the Seattle Electrical Superintendent posted range of $83,200 to $112,300, carried as the US anchor because no Miami superintendent range was published. |
| S4 | Manager | Royal Caribbean manager of itinerary planning, Norwegian deployment manager, Marriott corporate manager | First-line management at Carnival can sit below a senior technology individual contributor on cash, which is visible in this ladder.Midpoint of the Seattle Manager, Deployment and Marine Itinerary Planning posted range of $89,600 to $121,000. |
| S5 | Senior Manager / Principal | Royal Caribbean senior manager of onboard revenue, Norwegian senior manager of hotel operations | This row rests on a single employer-posted snapshot, so it should be read as one observation rather than a band.Midpoint of the Seattle Senior Manager, Restaurant and Bar Operations posted range of $100,000 to $135,000. |
| S5-T | Senior Manager, Delivery and Support | Royal Caribbean senior manager of technology delivery, Norwegian IT delivery manager | A single visa wage record. It is guaranteed base only and happens to be Carnival's disclosed FY2026 H-1B 75th percentile.Miami and Doral labour condition application record of $138,258 for a Senior Manager, Delivery and Support, which is also the FY2026 sponsor 75th percentile. |
| S6 | Director | Royal Caribbean director, Norwegian director, Marriott and Hilton corporate director | Eight Glassdoor submissions. Director is the first level at which current US postings say discretionary equity may apply, but no grant value is disclosed anywhere.Glassdoor Miami director submissions: base $116,000 to $177,000, total $130,000 to $203,000 and a median bonus of $19,000 across eight submissions. Equity is carried as a real zero because no grant value exists in any source. |
| S7 | Senior Director / Assistant Vice President | Royal Caribbean senior director, Norwegian AVP, large-cap hospitality senior director | No employer-posted or crowdsourced Carnival range exists at this level; the row is interpolated between the director and vice president observations.Modeled between the Miami director and vice president observations. The equity line is a planning placeholder inside the disclosed director-and-above eligibility, not a disclosed grant. |
| S8 | Vice President | Royal Caribbean vice president, Norwegian vice president, large-cap hospitality VP | Eight Glassdoor submissions with a disclosed stock component of $41,000 to $76,000. Brand presidents and corporate officers sit above this row and appear only in the proxy.Glassdoor Carnival Corporation vice president submissions: base $154,000 to $246,000, total $227,000 to $381,000 and stock of $41,000 to $76,000. The bonus line is the residual once the observed base and stock midpoints are removed from the observed total midpoint. |
Critical evidence warning
Carnival does not publish grade codes, salary minima, midpoints or maxima, ordinary bonus targets, band-level equity grants, appraisal rating labels or a promotion matrix, and the FY2025 Form 10-K and 2026 proxy statement disclose pay only for named executives and directors. The S1 through S8 rows here are an analytical normalization: the strongest evidence is six current employer-posted US salary ranges, six labour condition application wage records and two Glassdoor samples of eight submissions each, and everything outside the United States is a crowdsourced total-pay estimate rather than an employer range. Use these figures for orientation, never as a quote of a Carnival pay band, and never apply the shoreside ladder to a shipboard contract.
Compensation by Band — Miami
Low / median / high annual values at 1.00× base and 1.00× total-compensation factors versus Miami. Total equals base plus bonus plus annualized equity.
| Band | Title | Base | Variable | Total TC | Equity |
|---|---|---|---|---|---|
| S1 | Coordinator / Personal Cruise Advisor 0–2 years · modeled | $49K – $67K | 5% | $61K $52K – $70K | — |
| S2 | Analyst / Specialist 1–4 years · verified | $72K – $98K | 6% | $90K $76K – $103K | — |
| S2-T | Solutions Developer / Technology Analyst 2–5 years · reported | $71K – $96K | 6% | $89K $75K – $102K | — |
| S3 | Senior Analyst / Senior Specialist 3–7 years · verified | $75K – $101K | 7% | $94K $80K – $108K | — |
| S3-T | Senior Software Engineer / Senior DBA 5–10 years · reported | $97K – $132K | 7% | $123K $104K – $141K | — |
| S4-M | Technical / Marine Superintendent 6–12 years plus a marine engineering background · verified | $83K – $112K | 10% | $108K $91K – $124K | — |
| S4 | Manager 6–10 years · verified | $90K – $121K | 10% | $116K $98K – $133K | — |
| S5 | Senior Manager / Principal 8–14 years · verified | $100K – $135K | 12% | $132K $112K – $151K | — |
| S5-T | Senior Manager, Delivery and Support 10–15 years · reported | $118K – $159K | 12% | $155K $132K – $178K | — |
| S6 | Director 10–18 years · reported | $125K – $168K | 13% | $166K $141K – $190K | — |
| S7 | Senior Director / Assistant Vice President 12–20 years · modeled | $146K – $198K | 17% | $227K $193K – $261K | $25K |
| S8 | Vice President 15–25 years · reported | $170K – $230K | 23% | $304K $258K – $350K | $59K |
Total Compensation Range by Band
Total compensation in Miami across the employee bands. Ranges are planning envelopes around the median, not offer bands.
Global Footprint & Pay Arbitrage
Miami and Southampton are the only two shoreside operations the FY2025 Form 10-K names as principal. Seattle, Santa Clarita, Sydney, Rostock and Genoa are significant brand hubs, but Carnival publishes no city-level headcount anywhere. Miami is the pay anchor and every other market is calibrated against it.
Office and market catalogue — calibration factors versus Miami
| Location | Likely office profile | Presence | Base | TC |
|---|---|---|---|---|
Miami United States · USD | Global headquarters at Doral, Carnival Cruise Line brand operations and every corporate function | Named as a principal shoreside operation in the FY2025 Form 10-K | 1.00× | 1.00× |
Seattle United States · USD | Holland America Line and Seabourn brand headquarters plus marine, deployment and support functions | Official brand headquarters with five current employer-posted salary ranges | 0.99× | 0.99× |
Santa Clarita United States · USD | Princess Cruises brand operations; a verified office with no verified Carnival salary range | Official brand office; carried at anchor parity rather than a fabricated differential | 1.00× | 1.00× |
Fort Lauderdale United States · USD | South Florida cruise operations and a technology worksite appearing in labour condition application records | One Senior Software Engineer visa wage record at $125,445 | 1.00× | 1.00× |
Tampa United States · USD | Florida worksite covering remote and technology roles rather than a brand headquarters | One Senior Database Administrator visa wage record at $103,917 | 1.00× | 1.00× |
Southampton United Kingdom · GBP | Carnival UK headquarters running P&O Cruises and Cunard; the second principal shoreside operation | Named as a principal shoreside operation in the FY2025 Form 10-K | 0.46× | 0.44× |
London United Kingdom · GBP | Commercial, legal and support roles with no verified London-specific salary range | Verified but limited; carried at Southampton parity rather than a London premium | 0.46× | 0.44× |
Sydney Australia · AUD | Carnival Australia headquarters and regional operations, reshaped by the 2025 P&O Cruises Australia integration | Official regional headquarters with three sparse employee-reported observations | 0.80× | 0.78× |
Brisbane Australia · AUD | Regional cruise operations and port-facing activity with no verified salary range | Verified but limited; carried at Sydney parity | 0.80× | 0.78× |
Melbourne Australia · AUD | Regional commercial activity with no verified Carnival salary range | Verified but limited; carried at Sydney parity | 0.80× | 0.78× |
Rostock Germany · EUR | AIDA Cruises headquarters, the largest continental European hub and the source of most German pay evidence | Official brand headquarters with six crowdsourced observations and a published benefit page | 0.70× | 0.64× |
Hamburg Germany · EUR | Commercial and maritime ecosystem presence with no verified Carnival salary ladder | Verified but limited; carried at Rostock parity | 0.70× | 0.64× |
Genoa Italy · EUR | Costa Cruises headquarters and the centre of Carnival's southern European operation | Official brand headquarters with two sparse employee-reported observations | 0.45× | 0.41× |
Rome Italy · EUR | Commercial and regional support activity with no verified location-specific range | Verified but limited; carried at Genoa parity | 0.45× | 0.41× |
Mumbai India · INR | Carnival Support Services India, a crew recruitment, deployment and support entity rather than a corporate delivery centre | Official entity that reported deploying more than 22,000 personnel in 2023 | 0.06× | 0.06× |
Manila Philippines · PHP | Carnival recruiting, training and crew payroll support; the largest seafarer sourcing hub in the group | Official footprint with no verified Carnival salary range; carried at Mumbai parity | 0.06× | 0.06× |
Carnival also operates verified destination and port businesses at Nassau, Grand Bahama and Celebration Key, and Grand Turk, and a crew sourcing and training footprint in Manila. No shoreside compensation was verified for any Caribbean destination, and some of that work involves contractors and joint-venture personnel rather than Carnival employees, so those locations are described here but not priced. Bengaluru, Jakarta, Singapore, Hong Kong, Tokyo, Shanghai and Vancouver were checked and no material current Carnival employment hub was verified in any of them.
Miami anchor medians — the basis of every modeled cell
| Band | Base | Stock | Bonus | Total |
|---|---|---|---|---|
| S2 | $85K | $0 | $5K | $90K |
| S2-T | $84K | $0 | $5K | $89K |
| S3 | $88K | $0 | $6K | $94K |
| S3-T | $115K | $0 | $8K | $123K |
| S4-M | $98K | $0 | $10K | $108K |
| S4 | $105K | $0 | $11K | $116K |
| S5 | $118K | $0 | $14K | $132K |
| S5-T | $138K | $0 | $17K | $155K |
| S6 | $147K | $0 | $19K | $166K |
| S8 | $200K | $59K | $46K | $304K |
- Miami is the anchor because it is the verified global headquarters. The original research brief defaulted to Bangalore, but no material Carnival office was verified there, so Bengaluru is recorded as a research gap rather than presented as an office.
- The strongest Miami evidence is two current employer-posted ranges, a Performance Analytics Analyst at $72,200 to $97,500 and a Senior Analyst, Finance at $71,200 to $96,100, plus Glassdoor director and vice president samples of eight submissions each.
- Four Seattle employer-posted ranges are used as US anchors for the manager, superintendent and senior manager rows, because Carnival published no equivalent Miami postings. Seattle and Miami analyst midpoints differ by under 1 percent, which is why Seattle carries a 0.99 factor rather than a materially different one.
- Southampton is the only non-US market with more than a handful of observations, and every one of them is a crowdsourced total-pay estimate rather than an employer-posted range. UK total pay reads about 44 percent of Miami at entry level and about 65 percent at the manager band, which is why Southampton and London carry separate junior and senior factors.
- Mumbai runs the opposite way. Observed pay falls from about 6 percent of the Miami anchor at coordinator level to under 3 percent at head-of-operations level, because Carnival Support Services India is a crew recruitment and deployment entity rather than a corporate delivery centre. A flat factor is used and no seniority interpolation is applied.
- Executive pay is a global parent-company disclosure. It does not change when the location selector changes, and no named executive officer or brand president row appears in the priced ladder.
Model rules
- Every modeled cell is the Miami anchor midpoint multiplied by the city base or total factor and then by the locked 25 August 2026 foreign-exchange snapshot. No cell is a payroll or tax calculation.
- Total compensation is base plus the modeled annual cash bonus plus any disclosed equity. No employer benefit load, superannuation, pension contribution, provident fund or 13th-month payment is added into total pay, because those are employer cost rather than pay to the employee.
- Bonus lines below the named executive level are modeled. Carnival confirms that US non-sales roles participate in an annual cash bonus and sales roles have an incentive plan, but publishes no target percentage for any band.
- Equity is carried as a real zero below director because current US recruiting language reserves discretionary equity for director and above, and the Form 10-K states awards are principally for management-level employees and directors.
- Markets with a verified Carnival presence but no verified salary range, Santa Clarita, Fort Lauderdale, Tampa, London, Brisbane, Melbourne, Hamburg, Rome and Manila, are carried at parity with the nearest evidenced market rather than given a fabricated differential. Their cells are planning envelopes, not benchmarks.
- Monthly maritime contract rates, such as the AIDA First Engineer posting at €5,432 a month, are deliberately not annualized, because the paid-month and rotation pattern is not disclosed.
Variable Pay & Annual Cash Incentive
Carnival discloses its executive incentive design in the proxy and discloses nothing quantitative about the employee bonus grid. Current US recruiting language confirms that every non-sales role participates in an annual cash bonus programme and that sales roles have an incentive plan, but no target percentage, payout curve, payment month or proration rule is published for any band below the named executive level.
| Band | Target | Mechanism | Recent payout |
|---|---|---|---|
S1 Coordinator / Personal Cruise Advisor | Not publicly disclosed | Annual cash bonus for US non-sales roles; contact-centre and sales roles move to an incentive plan. | Not publicly disclosed |
S2 Analyst / Specialist | Not publicly disclosed | Annual cash bonus confirmed in current US postings with no quantified target. | Not publicly disclosed |
S3 Senior Analyst / Senior Specialist | Not publicly disclosed | Annual cash bonus confirmed in current US postings with no quantified target. | Not publicly disclosed |
S4 Manager / Technical Superintendent | Not publicly disclosed | Annual cash bonus. Current wording reserves potential discretionary equity for director and above, so the manager package is cash only. | Not publicly disclosed |
S5 Senior Manager / Principal | Not publicly disclosed | Annual cash bonus; equity is not indicated until director in current US postings. | Not publicly disclosed |
S6 Director | Approximately 13% of base implied | Annual cash incentive, plus discretionary equity for which director is the stated eligibility threshold. | Median bonus of $19,000 across eight Miami director submissions |
S7 Senior Director / Assistant Vice President | Not publicly disclosed | Annual cash incentive with discretionary equity; award mix depends on role, market, performance and retention need. | Not publicly disclosed |
S8 Vice President | Approximately 23% of base implied | Annual cash incentive plus discretionary equity within the management-level award population. | Implied from the $227,000 to $381,000 observed total range net of base and stock |
S9–S10 Brand president and corporate C-suite | Not publicly disclosed except for named executives | Annual cash incentive on Compensation Committee financial, operational and strategic measures, plus time- and performance-based RSUs. | 170.4% of target on the 2023 to 2025 performance-RSU cycle |
M1–M6 Shipboard ratings, officers and command | Not publicly disclosed | May include gratuities, service charges, contract allowances or role incentives depending on brand, flag, itinerary and collective agreement. | Not publicly disclosed |
Executive incentive targets — percent of salary
Named-executive outcomes
| Executive | Target | Paid | Attainment |
|---|---|---|---|
| Josh Weinstein | $0 | $5,420,100 | Target not disclosed; 170.4% certified on the 2023–2025 performance-RSU cycle |
| David Bernstein | $0 | $2,523,150 | Target not disclosed; 170.4% certified on the 2023–2025 performance-RSU cycle |
| Enrique Miguez | $0 | $1,168,125 | Target not disclosed |
| Bettina Deynes | $0 | $934,500 | Target not disclosed |
Employee payout timing and history
No defensible companywide ordinary-employee bonus payout percentage was located for FY2023, FY2024 or FY2025, and no companywide 2025 or 2026 salary-hike percentage, freeze or cut announcement was found in the two-year review window. Financial performance improved materially through FY2025 and the second quarter of FY2026, but strong results do not prove a specific employee bonus or salary outcome, and the absence of an announcement is not evidence that no changes occurred.
Sales and special incentives
Current US recruiting language separates sales roles onto an incentive plan rather than the annual cash bonus. The cadence, whether monthly, quarterly or annual, the metrics and the payout curve are all undisclosed. Onboard revenue roles, personal cruise advisors and trade sales roles are the populations most likely to sit on that plan.
Equity — RSUs, PSUs, Options & ESPP
Carnival is a US issuer, so employee equity means restricted share units, performance restricted share units and an employee stock purchase plan rather than an Indian-style employee stock ownership plan. The 2020 Stock Plan permits options and stock appreciation rights, but the awards actually granted are time-based and performance-based share units, and the practical eligibility threshold in current US recruiting language is director and above.
- FY2025 grants totalled 6,025,742 shares at a weighted-average grant-date fair value of $17.76, against a 25 August 2026 close of $26.14.
- Unrecognised compensation cost was $157 million at 30 November 2025, expected to be recognised over a weighted-average 1.6 years.
- A simple capacity calculation of 46,650,000 authorised less 22,700,000 available implies 23,950,000 shares, or 51.3 percent, used or committed. This is directional only: plan recycling and forfeiture rules affect legal availability, so it is not an accounting utilisation measure.
- Outstanding awards of 12,564,103 are not the same thing as cumulative shares used, because settled and forfeited awards leave the outstanding balance without leaving the used figure.
- The Form 10-K states that equity awards are principally granted to management-level employees and directors, which is the closest Carnival comes to publishing an eligibility rule.
2020 Stock Plan capacity at 30 November 2025
Vesting — common reported employee schedule
Time-based awards vest pro rata over three years. Josh Weinstein's 8 May 2026 grant of 190,965 units and Bettina Deynes's grant of 20,778 units both vest one third in April 2027, 2028 and 2029, accumulate dividend equivalents and settle only in shares. Performance awards work differently: they cliff-settle after a three-year period at anywhere between 0 and 200 percent of target, and the 2023 to 2025 cycle settled at 170.4 percent on 10 February 2026, one share per vested unit subject to tax withholding.
Eligibility by hierarchy level
- S1 to S3: no routine grant disclosed. US employees may have ESPP access, but ordinary restricted share unit grants are not indicated by any current posting.
- S4 to S5: no routine grant disclosed. Annual cash bonus only; current US wording points to director as the potential discretionary-equity threshold.
- S6 director: may be eligible. Grants are discretionary and commonly annual for selected leaders, driven by role, performance, retention need and management or Compensation Committee decisions. No grant size is published.
- S7 to S9: likely within the management-level award population described in the Form 10-K, but not automatic. Award mix and value depend on role, market, performance and succession considerations.
- S10 named executives: yes. Actual grants are disclosed in the proxy and in Forms 4, in time- and performance-based restricted share units, with no standard band schedule.
- M1 to M6 shipboard: not publicly disclosed. Do not assume the shoreside director threshold applies to a maritime contract.
Indicative annual grant value by band — Miami
| Band | Annual value (USD) | Median | Shares at $26.14 |
|---|---|---|---|
| S7 | $19K – $31K | $25K | ~717–1,195 |
| S8 | $44K – $73K | $59K | ~1,678–2,797 |
Annualized planning value (±25%), not the face value of every new-hire grant. Share equivalents use the $26.14 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 |
|---|---|---|
Josh Weinstein Chief Executive Officer | $11,961,027 of FY2025 stock awards at grant-date value | Mix of time- and performance-based restricted share units. A further 190,965 time-based units were granted on 8 May 2026 vesting pro rata in April 2027, 2028 and 2029. |
David Bernstein Chief Financial Officer and Chief Accounting Officer | $3,364,685 of FY2025 stock awards | Time- and performance-based units. 333,805 performance units settled on 10 February 2026 at 170.4 percent of target. |
Enrique Miguez General Counsel | $1,543,466 of FY2025 stock awards | Time- and performance-based units under the 2020 Stock Plan. |
Bettina Deynes Chief Human Resources Officer | $1,354,193 of FY2025 stock awards | Time- and performance-based units. A further 20,778 time-based units were granted on 8 May 2026 with three-year pro-rata vesting. |
Lars Ljoen Chief Maritime Officer | $977,672 of FY2025 stock awards | Time- and performance-based units; salary and annual incentive were not separately verified. |
Executive Compensation
FY2025 Summary Compensation Table values from the 2026 proxy statement, covering the year ended 30 November 2025. Stock is a grant-date accounting value rather than cash received, and for a package that is roughly 63 percent stock the two diverge sharply.
Reading the package
Salary was 7.6 percent of the FY2025 reported total, the annual cash incentive 28.7 percent and stock awards 63.3 percent. The stock figure is grant-date fair value, not realised gain. Realised value ran ahead of it during 2026: 635,820 performance units settled on 10 February 2026 at 170.4 percent of target, worth about $21.1 million at the same-day withholding price, with 271,172 shares withheld for tax.
Carnival sits in the middle of the listed cruise trio on chief executive pay and in the middle on pay ratio. All three ratios are elevated for the same structural reason: a global shipboard workforce on seasonal and rotational patterns pulls the median employee figure down to between $17,000 and $20,000. Comparing a cruise-line pay ratio with a technology or banking ratio compares workforce composition, not executive restraint.
Named Executive Officers & Board
Carnival runs a corporate C-suite alongside seven brand presidents. Only the chief executive and four other corporate officers appear in the FY2025 compensation tables; no brand president does, so the pay of the people running Carnival Cruise Line, Princess, Holland America Line, Seabourn, P&O Cruises and Cunard, AIDA and Costa is not public.
Lars Ljoen, Chief Maritime Officer, was a named executive officer for FY2025 with a disclosed total of $2,826,115 including $977,672 of stock awards and $224,914 of other compensation, but his salary and annual incentive were not separately verified in the retrieved proxy extract, so he is described here rather than shown as a reconciled row. Micky Arison, the founding family chair, took $126,507 of director compensation rather than executive pay in FY2025.
Board compensation framework
| Element | Amount | Notes |
|---|---|---|
| Highest FY2025 director total | $418,661 | Randall Weisenburger, reflecting committee chair responsibilities. |
| Typical continuing director total | $328,661 to $358,661 | Helen Deeble, Jason Cahilly and Katie Lahey at $328,661; Jonathon Band, Laura Weil and Stuart Subotnick at $358,661; Jeffrey Gearhart at $348,661. |
| Lowest continuing director total | $318,661 | Nelda Connors. |
| Part-year director total | $45,495 | Sara Mathew, reflecting a partial year of board service. |
| Founding family chair | $126,507 | Micky Arison is compensated as chair of the board rather than as an executive; his figure is not comparable with the independent director totals. |
| Retainer and committee schedule | Not separately itemised | The retrieved proxy extract discloses director totals rather than a component breakdown of cash retainer, committee fees and equity. |
These are FY2025 proxy totals and do not necessarily equal current-year retainers or the board roster after the May 2026 unification into Carnival Corporation Ltd. Indian promoter, SEBI SAST and stock-exchange disclosure concepts do not apply to Carnival; significant holdings and changes are governed by SEC beneficial-ownership and Section 16 rules.
Regional heads and other officers
The seven brand presidents, Christine Duffy at Carnival Cruise Line, Felix Eichhorn at AIDA Cruises, Paul Ludlow at Carnival UK and P&O Cruises, Mario Zanetti at Costa Cruises, Beth Bodensteiner at Holland America Line, Gustavo Antorcha at Princess Cruises and Mark Tamis at Seabourn, are executive officers whose compensation is not disclosed because none qualified as a named executive officer for FY2025. Their pay is visible only through Section 16 share movements if they file at all. That gap matters for anyone benchmarking a brand-level general management role, because the highest disclosed non-C-suite figure in this report is a Glassdoor vice president sample.
Insider Trades — SEC Forms 3/4/5
Carnival is NYSE-listed, so the governing record is SEC Forms 3, 4 and 5 plus Form 144 for planned sales. A settlement at no stated price is a restricted share unit converting into shares, and the withholding line beside it is shares surrendered to cover tax rather than a discretionary sale. The sample below is verified recent activity, not a complete ownership ledger.
| Date | Person | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-28 | Bettina Deynes Chief Human Resources Officer | Sale Open-market sale at a weighted-average price; individual trades ranged from $28.1000 to $28.1150. | 43,058 | $28.10 | $1.21M |
| 2026-05-08 | Josh Weinstein Chief Executive Officer | Award Time-based restricted share unit grant vesting one third in April 2027, 2028 and 2029. Value shown at the 25 August 2026 close, not grant-date fair value. | 190,965 | — | $4.99M |
| 2026-05-08 | Bettina Deynes Chief Human Resources Officer | Award Time-based restricted share unit grant on the same three-year pro-rata schedule. | 20,778 | — | $543K |
| 2026-04-21 | Bettina Deynes Chief Human Resources Officer | Withholding Shares surrendered to cover tax on the April 2025 time-based restricted share units. | 3,918 | $28.74 | $113K |
| 2026-04-21 | Bettina Deynes Chief Human Resources Officer | Withholding Shares surrendered to cover tax on the April 2024 time-based restricted share units. | 2,304 | $28.74 | $66K |
| 2026-02-10 | Josh Weinstein Chief Executive Officer | Settlement 2023 to 2025 performance restricted share units certified at 170.4 percent of target. Value uses the same-day withholding price for scale only. | 635,820 | — | $21.12M |
| 2026-02-10 | Josh Weinstein Chief Executive Officer | Withholding Two withholding lots of 250,196 and 20,976 shares. Transaction code F, an issuer-administered tax settlement rather than an open-market sale. | 271,172 | $33.22 | $9.01M |
| 2026-02-10 | David Bernstein Chief Financial Officer and Chief Accounting Officer | Settlement 2023 to 2025 performance restricted share units certified at 170.4 percent of target. | 333,805 | — | $11.09M |
| 2026-02-10 | David Bernstein Chief Financial Officer and Chief Accounting Officer | Sale Transaction code S on the Form 4; the filing context should be read alongside the related Form 144. | 361,790 | $33.22 | $12.02M |
Reading guide
Benefits & Perks
Benefits are better evidenced than pay, because current job postings and brand career pages itemise them while no filing itemises salary. The picture diverges sharply by country, and statutory floors are recorded as floors rather than as Carnival policy.
United States
- Health — Medical, dental and vision plus company-paid life and disability. Employee assistance and mental-health resources are included. The insurer, plan tiers and employee cost share were not verified in any retrieved source. [official]
- Retirement — 401(k) with a company match. The match percentage, the contribution cap it applies to and the vesting schedule are not publicly disclosed, which makes the plan impossible to value from public sources. [official]
- Equity — Employee Stock Purchase Plan, plus discretionary equity at director and above. The ESPP is advertised in every current US posting reviewed. The discount, lookback and contribution limit are not disclosed. Discretionary equity is described as a director-and-above possibility, not an entitlement. [official]
- Leave — Eight holidays plus two floating holidays, 14 to 19 vacation days and 80 sick hours. Manager and below start at 14 vacation days and director and above at 19, with tenure increasing the entitlement. Full-time employees receive 80 sick hours. This is one of the few places Carnival publishes a level-dependent benefit rule. [official]
- Development — Tuition and professional-certification reimbursement. Training and professional development are named in postings; annual caps were not verified. [official]
- Travel and workplace — Stand-by cruises, employee discounts and family and friend rates. Miami carries on-site fitness. Schedules are role-dependent hybrid or fully in-office rather than a single company policy. [official]
Global programs
- Shipboard living costs — Housing, meals, medical care, transport and repatriation. These can be central to shipboard total rewards and have no shoreside equivalent, but they vary by brand, flag, nationality and agreement and are not quantified anywhere in public sources. A shipboard cash figure without them is not comparable with a shoreside salary. [official]
- Training — CSMART maritime academy and brand training. Covers bridge, engineering, safety, environmental, guest service and leadership development. It is the group's main structured progression mechanism for the shipboard population. [official]
- Collective agreements — 48 percent of shipboard and 21 percent of shoreside employees covered in 2025. For that share of the workforce, pay and conditions are negotiated rather than set by a company band structure, which limits how far any single global compensation policy can describe Carnival. [official]
- Performance framework — Goal setting, regular check-ins and formal evaluations. Applies to both shoreside and shipboard team members and informs compensation, promotion and succession planning. No rating scale or distribution is published. [official]
Benefit fields not publicly quantified
The following were requested and could not be verified as Carnival-specific, current and broadly applicable: the health insurer and provider network, the family floater amount, the exact US 401(k) match and vesting, the National Pension System employer contribution, phone and internet allowances, transport policy, meal coupons, detailed paternity leave, sabbatical rules and certification reimbursement limits. Statutory floors quoted above are the law of the country, not evidence of Carnival's own policy, and the company may well sit above them.
Performance Review & Pay Progression
Carnival discloses that it runs structured goal setting, regular check-ins and formal evaluations for shoreside and shipboard team members, and that manager assessments inform compensation, promotion and succession planning. It discloses nothing about how any of that converts into money.
Not publicly disclosed
Modeled promotion planning timeline
| Band | Years to next scope | Promotion hike | Status |
|---|---|---|---|
| S1 | Not publicly disclosed; movement to an analyst posting is a market heuristic | Not disclosed | Modeled planning interval |
| S2 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S2-T | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S3 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S3-T | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S4-M | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S4 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S5 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S5-T | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S6 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S7 | Not publicly disclosed | Not disclosed | Modeled planning interval |
| S8 | Not publicly disclosed | Not disclosed | Modeled planning interval |
Equity timing is better evidenced than cash timing. Annual executive grants have historically clustered in April, and the 2026 grants were made on 8 May around the structural unification, with three-year pro-rata vesting starting in April 2027. Performance cycles run three years and settle in February after Compensation Committee certification. Nothing equivalent is published for ordinary salary reviews.
Pay progression evidence
The honest answer on progression is that Carnival does not publish one. What the observed ranges do show is that the pay step between adjacent shoreside titles is small in the professional bands and large at the leadership transition: the Miami analyst and senior-analyst posted ranges overlap almost entirely, the manager and senior-manager anchors sit about 12 percent apart, and the jump from the director anchor of $165,500 total to the vice president anchor of $304,000 is about 84 percent, driven mainly by the arrival of an equity component. The other real discontinuity is track rather than level: a sponsored senior engineer record of $125,445 sits above the first-line manager anchor of $105,300, so moving into people management is not automatically a pay event.
H-1B / LCA Visa Footprint — United States
Carnival is a small, technology-concentrated H-1B sponsor rather than a volume filer, and the FY2026 file runs to 54 labour condition applications. These wages are guaranteed base salary for sponsored roles only. They exclude bonus, equity and benefits and should never be compared directly with a total compensation figure.
Dataset summary
| Dataset | Result | Interpretation |
|---|---|---|
| H1BGrader sponsor profile | FY2026 median guaranteed salary of $115,440 with a 75th percentile of $138,258 | The primary current-year wage snapshot used in this report. |
| H1BData salary records | 64 FY2025 salary records at a $110,572.50 median | Record counts differ from application counts because of filtering and deduplication. |
| MyVisaJobs employer profile | 54 FY2026 labour condition applications, 12 PERM petitions and 12 prevailing-wage requests | Updated 18 August 2026. Aggregators disagree because of fiscal-year boundaries, employer aliases, certified versus submitted cases and deduplication. |
City-level H-1B wage history
| City | P25 | Median | P75 | Records |
|---|---|---|---|---|
Royal Palm Beach, FL Two observed records; the highest city median in the file and a very small sample. | $150K | $149,906 | $150K | 2 |
Doral, FL FY2025 city median at the headquarters campus; the record count was not separately verified. | $125K | $125,445 | $125K | 0 |
Fort Lauderdale, FL A single Senior Software Engineer record, so the quartiles collapse onto the point estimate. | $125K | $125,445 | $125K | 1 |
Redwood City, CA Small California sample; the exact record count was not verified. | $119K | $119,371 | $119K | 0 |
Tampa, FL A single Senior Database Administrator record. | $104K | $103,917 | $104K | 1 |
Miami, FL FY2025 city median across the broader Miami worksite; the count was not separately verified. | $103K | $102,742 | $103K | 0 |
Denton, TX A single observed record and the lowest in the file, well below the sponsor median. | $68K | $67,995 | $68K | 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 |
|---|---|---|---|
| Senior Manager, Delivery and Support | Miami and Doral, FL | $138,258 | The highest observed title-level wage and the FY2026 sponsor 75th percentile; normalises to the senior technology management row. |
| Senior Software Engineer | Fort Lauderdale, FL | $125,445 | Normalises to the senior technology individual contributor row, above the first-line manager anchor. |
| Senior Database Administrator | Tampa, FL | $103,917 | The other half of the senior technology individual contributor anchor. |
| Solutions Developer | Miami and Doral, FL | $83,658 | The anchor for the technology analyst row in this report. |
| FOC Watch Leader | Miami and Doral, FL | $82,867 | A fleet operations centre role; the clearest evidence that operational technical roles are sponsored alongside software roles. |
| Analyst, Onboard Revenue | Miami and Doral, FL | $68,474 | The lowest Miami observation in the file and the bottom of the analyst cluster. |
Reading the data correctly
- A labour condition application wage is guaranteed base salary. It excludes the annual cash bonus, any equity and every benefit, so it understates total compensation for the same role.
- Filing counts are not employee headcount. A single employee can generate several filings through amendments, extensions and worksite changes.
- The sponsored population skews heavily to technology and analytical roles, so these wages describe a slice of Carnival's US workforce rather than its shoreside median.
- The 96.3 percent approval figure is calculated only from the 27 I-129 outcomes reported by one aggregator for FY2026. It is not a universal Carnival approval rate.
- City medians with a record count of zero above are published medians whose underlying sample size was not separately verified, so they should be read as directional.
Key Nuances & Insights
Carnival averaged 101,000 shipboard employees against 16,000 shoreside in 2025, so the typical Carnival employee is a seafarer on a fixed-length contract, not an office worker. Shipboard pay is set by maritime licence, flag, itinerary, nationality and collective agreement, and it carries housing, meals, medical care and repatriation that have no shoreside equivalent. Folding both populations into one interpolated ladder would misstate every market, which is why only the shoreside professional population is priced here.
The 2020 Stock Plan legally permits awards to selected employees generally. What actually happens is narrower: the Form 10-K says awards go principally to management-level employees and directors, and current US postings say director and above may be eligible. The threshold you will be quoted in a negotiation is the recruiting language, not the plan document, and even at director the word is may rather than will.
It is the certified outcome of the 2023 to 2025 executive performance-RSU cycle against a 0 to 200 percent opportunity, settled on 10 February 2026. It says nothing about the annual cash bonus that ordinary US non-sales employees participate in, for which no target and no payout history exists in any public source. Conflating the two is the single most likely misreading of Carnival's disclosures.
The sponsored Senior Software Engineer record of $125,445 and the Senior Database Administrator record of $103,917 straddle the Seattle manager posting midpoint of $105,300, and the Senior Manager, Delivery and Support record of $138,258 sits well above the Senior Manager, Restaurant and Bar Operations midpoint of $117,500. Moving into people management at Carnival is a scope decision, not automatically a pay event.
The Seattle Electrical Superintendent range of $83,200 to $112,300 sits below the commercial manager range despite requiring licence-level technical authority over vessels. Superintendents compete with the marine and offshore sector rather than with corporate hiring, so benchmarking one against a like-titled corporate manager understates the specialisation and overstates the pay.
A 1,063 to 1 ratio against a $17,773 median looks extreme until you compare it with Royal Caribbean at 1,260 to 1 against a $19,027 median. All three listed cruise lines report the same structural pattern because the median employee is a rotational shipboard worker, often on a part-year contract and usually resident outside the United States. The ratio measures workforce composition first and executive pay second.
In an IT-services company, offshore pay sits far below the anchor at junior levels and converges at senior levels. Carnival Support Services India does the reverse: observed pay falls from about 6 percent of the Miami anchor at coordinator level to under 3 percent at head-of-operations level. CSSI recruits and deploys seafarers rather than delivering corporate work, so applying a standard onshore-to-offshore multiplier to it is a category error, and this report uses a flat factor with no seniority interpolation as a result.
The same Revenue Analyst title in Southampton reads about £29,000 to £36,000 at Carnival Corporation, £31,000 to £35,000 at Cunard and £39,000 to £41,000 at P&O Cruises. That is a spread of roughly 30 percent on the same job title inside one city and one group. Which brand's payroll an offer sits on is a real variable, not a cosmetic one.
On 7 May 2026 the Carnival Corporation & plc dual-listed structure became Bermuda-incorporated Carnival Corporation Ltd. with a single NYSE listing, Miami headquarters and a continuing Southampton operation. Carnival stated it did not change team-member roles, leadership or operations. The one live compensation consequence is that legacy Carnival plc share-purchase interests were converted one-for-one, and post-unification plan mechanics should be checked rather than assumed.
Carnival advertises the 1993 Employee Stock Purchase Plan in every current US posting reviewed, and it is the only equity mechanism an ordinary employee below director is evidenced to reach. It is also employee-funded. Without the discount, lookback and contribution cap, which none of the retrieved sources disclose, it cannot be valued, and it should never be added into a total compensation figure the way an RSU grant would be.
Approximately 48 percent of shipboard and 21 percent of shoreside employees were covered by collective bargaining agreements in 2025. For that share of the workforce, pay and conditions are negotiated instruments rather than outputs of any company band structure, which is a structural reason Carnival could not publish a single global pay policy even if it wanted to.
The AIDA First Engineer posting quotes €5,432 a month on a three-month contract. Multiplying by twelve produces a figure that describes nobody, because the paid-month pattern, the rotation, the unpaid leave periods and the tax residence are all unknown. This report leaves that observation as a monthly rate and prices no shipboard band.
P&O Cruises Australia was integrated into Carnival Cruise Line during 2025. The three Sydney observations available are sparse, cover different functions and do not form a monotonic pattern by level, which is why Sydney carries a flat factor rather than the level-dependent factors used for Southampton and Genoa. Historical P&O Australia titles and pay should not be treated as describing the current organisation.
Carnival does not publish grade codes, band minima or maxima, ordinary bonus targets, equity grants by band, appraisal labels, a salary-review month, promotion tenure rules or a country benefit schedule. Every one of those absences is recorded here as not publicly disclosed rather than estimated, because a company with 117,000 employees choosing not to publish any of it is a meaningful fact about how it manages pay.
Research control
Against its two listed peers Carnival sits in the middle on both chief executive pay and pay ratio: $18.89 million and 1,063 to 1, between Royal Caribbean at $23.98 million and 1,260 to 1 and Norwegian Cruise Line Holdings at $13.75 million and roughly 530 to 1. On the employee side no peer comparison is possible with any rigour, because none of the three publishes salary bands and the crowdsourced samples for cruise-line corporate roles are thin. The defensible qualitative conclusion is that US corporate and technology roles carry the highest verified cash ranges in the group, Western Europe and Australia sit materially lower in dollar terms for the observed roles, and Mumbai support observations are far lower again but describe a different operating model rather than the same job priced offshore.
Evidence classification
| Label | Meaning | Examples and permitted use |
|---|---|---|
| Verified | A Carnival SEC filing, an official Carnival or brand career and benefit page, a current Carnival job posting, or a government or statutory rule. | Executive pay, the stock plan, the pay ratio, headcount, collective bargaining coverage, benefits, US salary ranges and foreign-exchange rates. |
| Reported | A named third-party dataset with observable records, chiefly Department of Labor derived visa wage aggregators, Glassdoor and Kununu. | The director and vice president rows, the technology rows, and every non-US city observation. |
| Modeled | The Miami anchor midpoint multiplied by a city calibration factor and the locked foreign-exchange snapshot, inside a planning envelope. | The coordinator and senior director rows, every bonus line below the named executive level, and every market with no direct observation. |
| Not publicly disclosed | No source in the research bundle supports a figure. | Recorded as such rather than estimated. This applies to most of the variable-pay table. |
Explicit “Not publicly disclosed” index
Known gaps and diligence before relying on a cell
- 1Only the shoreside professional population is priced. The shipboard M1 to M6 hierarchy is described in the level and benefit sections and referenced in the key metrics and news, but it is deliberately excluded from the band table and from every location factor, because gratuity-based pay, fixed-length contracts, maritime collective agreements and employer-provided housing and meals behave in the opposite direction to a shoreside salary across the same cities. Blending them would misstate both populations.
- 2No named executive officer or brand president row appears in the priced ladder. The chief executive's $18.89 million package and the four other named executive packages are carried in the executive section only, so that a single worldwide executive figure cannot drag every location's factor toward parity at the top of the ladder. The top priced row is the vice president observation.
- 3Total compensation is rebuilt from base plus modeled bonus plus disclosed equity. No employer benefit load, superannuation, workplace pension, provident fund or 13th-month payment is folded into total pay anywhere in this report, because those are employer cost rather than pay received. This matters most for Germany and Australia, where the statutory and advertised additions are large.
- 4The Miami senior-analyst posted range sits marginally below the Miami analyst posted range, at $71,200 to $96,100 against $72,200 to $97,500. The senior professional row is set in the upper half of the observed range so that it reads above the analyst row, which is a smoothing decision rather than an observed Carnival policy.
- 5Two US anchor rows, the manager and the senior manager, use Seattle employer-posted ranges because Carnival published no equivalent Miami postings. Miami and Seattle analyst midpoints differ by under 1 percent, so the substitution is small, but it is a substitution.
- 6Sydney's three observations do not rise monotonically with level, and Mumbai's four fall with level. Both markets therefore carry flat factors with no seniority interpolation, rather than a fabricated compression curve.
- 7Nine of the sixteen priced markets have a verified Carnival presence but no verified salary range, and are carried at parity with the nearest evidenced market. Nassau, Grand Bahama and Celebration Key, and Grand Turk are verified operational footprints that are described but not priced at all, partly because some of that work involves contractors and joint-venture personnel.
- 8The 2026 proxy extract used here does not expose a target percentage of salary for any named executive, so the variable-pay outcome rows show a zero target with the realised payout beside it rather than an attainment percentage.
- 9Lars Ljoen's salary and annual incentive were not separately verified, so he is described in the executive notes rather than shown as a reconciled compensation row.
- 10Bengaluru appears in the underlying research bundle only to make an original template assumption explicit. No material Carnival office was verified there, so it is omitted from the location table entirely rather than shown as an office with no data.
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 — 49 sources
| S1 | Carnival Corporation & plc FY2025 Form 10-K for the year ended 30 November 2025 · SEC / Carnival · 2026-01-28. Workforce averages, principal shoreside operations, human capital, collective bargaining coverage, equity plan accounting and financials. |
| S2 | Carnival Corporation 2026 Proxy Statement, DEF 14A · SEC / Carnival · 2026 proxy covering FY2025 pay. Chief executive and named executive pay, the pay ratio, director compensation and incentive design. |
| S3 | Carnival Corporation 2020 Stock Plan, as amended · SEC / Carnival · 2020 with amendments through 2026. Award types, the 46.65 million share authorisation, exercise-price and term rules. |
| S4 | Shareholder FAQs on the dual-listed-company unification and Bermuda redomiciliation · Carnival Corporation Ltd. · Updated 2026. Legal entity status, the single NYSE listing, headquarters continuity and share-plan transition. |
| S5 | Leadership catalogue · Carnival Corporation Ltd. · 2026-08-26. Corporate C-suite and brand president roster. |
| S6 | Senior Analyst, Compensation, Corporate — Miami job posting · Carnival careers · 2026-08-26. Annual bonus participation, director-and-above equity eligibility and the US benefit schedule. |
| S7 | Demand and Revenue Management Analyst — Seattle job posting · Carnival careers / Seabourn · 2026. Seattle analyst base range of $75,000 to $95,000 and benefits. |
| S8 | Manager, Deployment and Marine Itinerary Planning — Seattle job posting · Carnival careers / Holland America Line · 2026-02-23. Manager base range of $89,600 to $121,000. |
| S9 | Senior Manager, Restaurant and Bar Operations — Seattle job posting · Carnival careers · 2026. Senior manager base range of $100,000 to $135,000. |
| S10 | Performance Analytics Analyst — Miami job posting · Carnival careers · 2026. The Miami analyst anchor range of $72,200 to $97,500. |
| S11 | Senior Analyst, Finance — Miami job posting · Carnival careers · 2026. The Miami senior analyst range of $71,200 to $96,100. |
| S12 | Electrical Superintendent — Seattle job posting · Carnival careers · 2026. Marine technical management base range of $83,200 to $112,300. |
| S13 | Carnival Cruise Line director salaries, Miami · Glassdoor · 2026-08-26. Director base, bonus and total ranges across eight submissions. |
| S14 | Carnival Corporation vice president salaries · Glassdoor · 2026-08-26. Vice president base, bonus, stock and total ranges across eight submissions. |
| S15 | Carnival UK careers benefits page · Carnival UK · 2026-08-26. UK leave, pension, shares plan, health and cruise benefits. |
| S16 | Carnival, P&O Cruises and Cunard salaries, Southampton · Glassdoor · 2026-08-26. Seven UK role-level total-pay observations including the brand-by-brand analyst spread. |
| S17 | AIDA careers benefits and working conditions · AIDA Cruises · 2026-08-26. German leave, 13th-month salary, pension, hybrid working and the First Engineer monthly contract rate. |
| S18 | AIDA Cruises salary observations · Kununu and Glassdoor · 2026-08-26. Six Rostock observations spanning travel advisor, IT specialist, manager, nautical officer and captain. |
| S19 | Costa Crociere salaries, Genoa · Glassdoor and Indeed · 2026-08-26. Two Italian analyst and manager observations. |
| S20 | Carnival Australia careers and employee rewards · Carnival Australia · 2026-08-26. Australian rewards, development and external benchmarking statements. |
| S21 | Carnival Australia salaries, Sydney · Glassdoor · 2026-08-26. Three sparse Sydney observations. |
| S22 | Carnival Support Services India entity materials · CSSI / Carnival · Current materials with a 2023 workforce reference. The Mumbai crewing footprint and the more than 22,000 personnel deployment figure. |
| S23 | Carnival Support Services India salaries · Glassdoor · 2026-08-26. Four sparse Mumbai observations from coordinator to head of operations. |
| S24 | Carnival Philippines and CASI careers materials · Carnival careers · 2026-08-26. The Manila recruiting, training and payroll support footprint. |
| S25 | Carnival Corporation H-1B salary records, FY2025 · H1BData.info, DOL-derived · FY2025 snapshot. Salary distribution, titles and the seven city medians. |
| S26 | Carnival Corporation H-1B sponsor salaries · H1BGrader, DOL-derived · FY2026 snapshot. The $115,440 median and $138,258 75th percentile plus recent title examples. |
| S27 | Carnival Corporation visa sponsor profile · MyVisaJobs · 2026-08-18. Labour condition application, PERM and I-129 counts and outcomes. |
| S28 | Josh Weinstein Form 4, time-based RSU grant · SEC · Transaction 2026-05-08, filed 2026-05-12. 190,965 units and the three-year pro-rata vesting schedule. |
| S29 | Bettina Deynes Form 4, time-based RSU grant · SEC · Transaction 2026-05-08, filed 2026-05-12. 20,778 units and vesting terms. |
| S30 | Bettina Deynes Form 4, tax withholding · SEC · Transaction 2026-04-21. Two code F withholding lots on April 2024 and April 2025 awards. |
| S31 | Bettina Deynes Form 4, open-market sale · SEC · Transaction 2026-05-28, filed 2026-06-01. 43,058-share sale at a weighted-average price. |
| S32 | Josh Weinstein Form 4, 2023 to 2025 performance RSU vest · SEC filing mirror · Transaction 2026-02-10. 635,820 shares, the 170.4 percent certified outcome and the tax withholdings. |
| S33 | David Bernstein Form 4, performance RSU vest and sale · SEC · Transaction 2026-02-10. 333,805-share acquisition and 361,790-share disposal. |
| S34 | Royal Caribbean Group 2026 Proxy Statement · SEC · 2026 proxy covering FY2025 pay. Peer chief executive pay of $23,978,813 and a 1,260:1 ratio. |
| S35 | Norwegian Cruise Line Holdings 2026 Proxy Statement · SEC · 2026 proxy covering FY2025 pay. Peer chief executive pay of $13,752,560 and an approximate 530:1 ratio. |
| S36 | Super guarantee rates and thresholds · Australian Taxation Office · Current 2026. The 12 percent Super Guarantee from 1 July 2025. |
| S37 | National Employment Standards, leave · Fair Work Ombudsman · Current 2026. Australian annual, personal, parental and family and domestic violence leave floors. |
| S38 | Holiday entitlement rights · GOV.UK · Current 2026. The UK statutory 5.6-week paid holiday floor. |
| S39 | Workplace pensions, contributions · GOV.UK · Current 2026. The UK statutory 8 percent total and 3 percent employer minimum. |
| S40 | Employees' Provident Fund scheme · EPFO, Government of India · Current 2026. The Indian 12 percent employee and employer contribution floor. |
| S41 | Maternity Benefit Act guidance · Ministry of Labour and Employment, India · Current 2026. The 26-week Indian maternity leave floor. |
| S42 | Payment of Gratuity Act · Chief Labour Commissioner, India · Current 2026. The 15 days per completed year gratuity formula. |
| S43 | Book III, Conditions of Employment · Department of Labor and Employment, Philippines · Current 2026. The five-day service incentive leave floor. |
| S44 | CCL historical prices · The Wall Street Journal · 2026-08-25 close. The $26.14 illustrative share price used for share-quantity valuations. |
| S45 | Daily exchange rates · Reserve Bank of Australia with an XE cross-check · 2026-08-25. The locked foreign-exchange snapshot used for every conversion in this report. |
| S46 | Carnival second-quarter 2026 results · Carnival / PR Newswire · 2026-06-23. $6.7 billion revenue, $569 million adjusted net income and $9.0 billion customer deposits. |
| S47 | Carnival FY2025 results and the unification proposal · Carnival / PR Newswire · 2025-12-19. $26.6 billion revenue, $2.8 billion net income and $7.2 billion adjusted EBITDA. |
| S48 | 1993 Employee Stock Purchase Plan Form S-8 registration · SEC / Carnival · 2025-06. Evidence of continued ESPP share-purchase infrastructure. |
| S49 | P&O Australia integration and brand portfolio disclosure · Carnival FY2025 Form 10-K and company releases · 2025. The legacy break in Australian brand pay data. |
Recent News & Workforce Trend
Carnival's 2026 has been dominated by a corporate restructuring and a long-term incentive certification rather than by any workforce pay action. No companywide salary-hike percentage, freeze or cut was announced in any reviewed source over the two-year window.
Carnival publishes 2025 workforce averages rather than a multi-year headcount series, and it publishes no city-level headcount for any office. No quarterly net hiring figure and no attrition rate by country or quarter was verified in any reviewed source, so this panel shows the composition of the workforce rather than a trend. The three averages describe different populations and cannot be added to the narrative figure.
Used only to value disclosed share quantities for illustration. It is not a grant-date fair-value input, and it sits well above the $17.76 weighted-average grant-date fair value of the FY2025 awards.
Carnival reported $6.7 billion of revenue, $569 million of adjusted net income, $1.6 billion of adjusted EBITDA and $9.0 billion of customer deposits. No broad salary-hike or bonus announcement accompanied the release.
An open-market sale at a weighted-average price around $28.10, three weeks after receiving a 20,778-unit time-based grant.
Josh Weinstein received 190,965 units and Bettina Deynes 20,778 units, each vesting one third in April 2027, 2028 and 2029 and accumulating dividend equivalents. The May date breaks the historical April grant pattern and coincides with the unification.
The group became Carnival Corporation Ltd. with one NYSE-listed equity, keeping the Miami headquarters and the Southampton operation. Legacy Carnival plc interests converted one for one. Carnival stated that roles, leadership and operations were unchanged.
Two code F lots totalling 6,222 shares were surrendered for tax on the Chief Human Resources Officer's earlier grants, illustrating the April vesting anniversary for time-based awards.
635,820 units settled for the chief executive and 333,805 for the chief financial officer against a 0 to 200 percent opportunity. This is the clearest recent long-term incentive payout evidence and is not the annual employee bonus.
$26.6 billion of revenue, $2.8 billion of net income and $7.2 billion of adjusted EBITDA, alongside a proposal to simplify the dual-listed structure and a reinstated dividend.
22.7 million shares remained available for future grant, 12,564,103 awards were outstanding, 6,025,742 were granted during the year at a $17.76 weighted-average fair value, and $157 million of cost remained unrecognised over 1.6 years.
A Form S-8 registered further shares under the 1993 Employee Stock Purchase Plan, confirming continued share-purchase infrastructure without disclosing the discount, lookback or contribution level.
The brand transition breaks the comparability of historical Australian titles and benefits. No harmonisation pay matrix was published, and legacy P&O Australia observations should not be read as describing the current organisation.