What does a senior engineer at Carrier earn?

A senior engineer or senior analyst sits at the normalized B3 band, anchored in Palm Beach Gardens at about $115,500 base with a modeled 7.5 percent variable target, roughly $124,000 all-in, against an advertised range of about $89,200 to $152,200. No routine equity grant is publicly evidenced at that level. In Bengaluru the same scope models at about 2.1 million rupees base, in London at about 54,800 pounds and in Sydney at about 127,500 Australian dollars. Carrier publishes no official band for this work, so every figure is a triangulation of Carrier job postings and public salary aggregators rather than a company pay scale.

Does Carrier give RSUs, options or an ESPP?

Carrier grants restricted stock units, performance share units, stock appreciation rights and options through the amended 2020 Long-Term Incentive Plan, but the research found no broad-based employee stock purchase plan and no employee stock ownership plan. SARs, options and RSUs generally vest over three years, and PSUs generally run a three-year performance period weighted 50 percent earnings-per-share compound growth and 50 percent relative total shareholder return against a subset of S&P 500 industrials. Named-executive annual grants are split roughly half SARs and half PSUs by target value. Equity eligibility below the director tier is selective and no formal threshold is published.

How does Carrier's bonus work?

For named executives the disclosed Annual Bonus Plan formula is eligible base salary multiplied by target bonus percentage, a corporate or segment performance factor and an individual performance factor, with threshold, target and maximum opportunities. That formula produced 143 percent for 2023, 90 percent for 2024 after the committee cut a calculated 112 percent, and 39 percent for 2025. Below the executive tier Carrier discloses nothing: no target percentages by level or country, no payout cadence and no employee-wide payout history. Job postings confirm only that short-term incentive eligibility varies by role, so the 3 percent at B1 rising to 60 percent at the vice-president tier shown here is modeled.

What was the Carrier CEO paid?

David Gitlin's 2025 reported total was $14,962,913, made up of $1,500,000 of salary, $5,634,548 of PSU and stock awards, $5,747,165 of SAR awards, $1,023,750 of non-equity incentive at 39 percent of a $2,625,000 target, $237,661 of pension and deferred-compensation change and $819,789 of other compensation covering retirement contributions, personal aircraft use, insurance and financial planning. That is 319 times the $46,976 median employee. His 6 February 2025 award was 88,150 target PSUs and 321,970 SARs at a $65.21 base price. He also bought 19,300 shares on the open market at $52.62 on 25 November 2025, about $1.02 million.

How does Carrier pay in Germany compared with the United States?

Germany is one of Carrier's largest European populations after the Viessmann Climate Solutions acquisition, and the model prices Munich at about 0.71 of the Palm Beach Gardens anchor, Eschborn at 0.67, Berlin at 0.62 and Allendorf, the Viessmann headquarters and manufacturing site, at about 0.59. A senior engineer models at roughly 70,700 euros in Munich against 58,400 euros in Allendorf. The gap is flat across the ladder rather than compressing at senior levels, because the bundle applies one city index to every band. German pay is also shaped by works-council and collective arrangements that cover part of the roughly 16,500 Europe-wide represented employees, and Carrier has published no harmonisation map for legacy Viessmann pay systems.

All Companies

Carrier

Compensation Insight

How Carrier Pays

Carrier's research-normalized B0 to B10 employee ladder and its B11 and B12 proxy executive tiers, priced across 34 markets, with 2020 LTIP stock appreciation rights, performance share units and RSUs but no broad-based ESPP, a $14.96M CEO package at 319 to 1, and a 56-record H-1B wage file.

47,000 employees · NYSE: CARR · Carrier Global Corporation · Independent since the 2020 separation from United Technologies · Palm Beach Gardens, Florida · FY ends 31 December

Employees

~47,000

At 31 December 2025 across more than 52 countries, split roughly 34 percent Americas, 36 percent Europe and 30 percent Asia Pacific, Middle East and Africa. Down from 58,000 at the end of 2021, but acquisitions and divestitures make that change unusable as an attrition proxy.

2025 net sales

$21.75B

Carrier reported $21.747 billion of 2025 net sales. Second-quarter 2026 sales were $6.4 billion, up 4 percent reported and 3 percent organic, with GAAP operating profit of $825 million, down 9 percent.

CEO pay ratio

319:1

David Gitlin's $14,962,913 reported 2025 compensation against a $46,976 global median employee. The proxy cautions that permitted methodologies and country exclusions make cross-company ratios imperfect.

2025 bonus factor

39%

The disclosed corporate annual-incentive factor for the 2025 performance year, against 90 percent for 2024 and 143 percent for 2023. Individual factors were held at 100 percent for the named executives so the weak result flowed through.

LTIP reserve

107.0M shares

Maximum authorised shares under the amended 2020 Long-Term Incentive Plan after shareholders approved 17 million additional shares on 9 April 2025. 25.6 million remained available at 31 December 2025.

Stock compensation cost

$72M

2025 stock-based compensation expense, with $101 million of unrecognised cost expected to be recognised over a weighted-average two years. Grants in the year were 2.072 million SARs and options, 836,000 PSUs and 330,000 RSUs.

H-1B median base

$127,816

Across the 56-record public Carrier labour condition application file, with a $101,769 lower quartile and a $175,822 upper quartile. Base salary only, excluding bonus, equity and benefits.

Broad-based ESPP

None found

The reviewed filings disclose the 2020 Long-Term Incentive Plan, a PSU deferral plan, a French restricted-stock sub-plan and a director deferred stock unit plan, but no employee stock purchase plan and no employee stock ownership plan.

Locations

United States

Canada

Mexico

Brazil

United Kingdom

Germany

France

Italy

Spain

Netherlands

Poland

Czech Republic

Sweden

India

China

Japan

Singapore

Australia

United Arab Emirates

Saudi Arabia

1.00× base / 1.00× TC vs Palm Beach Gardens, FL

Band Hierarchy

Carrier publishes no global grade architecture. The B0 to B10 ladder below is the research bundle's normalization of Carrier job titles, and the B11 and B12 tiers above it are proxy-disclosed executive populations carried in the executive section rather than in the band table.

Operations and field ladder — B0 through B4

Trainee / Associate / Junior TechnicianEarly career · variable 3% · modeled

Graduate Engineer Trainee, DTLP Associate, Junior Technician, Service Trainee

0-2 years

●●○○○○○○○○○○

Operations Associate / ApprenticeOperations · modeled

Assembler, Warehouse Associate, Apprentice, Production Helper

0-2 years

●○○○○○○○○○○○

Technical ladder — B2 through B9

Staff / Principal Engineer / ArchitectSenior IC or senior manager · variable 17.5% · modeled

Systems Architect, Senior Technical Manager, Senior Program Manager, Senior Manager

9-15 years

●●●●●●●○○○○○

Principal Engineer / Technical SpecialistAdvanced IC or manager · variable 12.5% · modeled

Principal Engineer, Technical Specialist, Program Manager, Engineering Manager

7-12 years

●●●●●●○○○○○○

Lead Engineer / Project LeadLead IC or first-line leadership · variable 10% · modeled

Lead Engineer, Project Manager, Production Supervisor, Technical Lead

5-9 years

●●●●●○○○○○○○

Senior Engineer / Senior Analyst / Service EngineerSenior professional IC · variable 7.5% · modeled

Senior Mechanical Engineer, Senior Software Engineer, Senior Systems Engineer, Service Engineer

3-7 years

●●●●○○○○○○○○

Engineer I / Analyst / Field TechnicianProfessional IC · variable 5% · modeled

Mechanical Engineer, Controls Engineer, Business Analyst, Field Service Technician

1-4 years

●●●○○○○○○○○○

Leadership ladder — B7 through B10

B10

Vice PresidentCorporate or segment executive · variable 60% · modeled

Vice President, Regional President, Corporate Officer, Chief Technology or Functional VP

20+ years

●●●●●●●●●●●○

Senior Director / General ManagerSenior director or general management · variable 40% · modeled

Senior Director, General Manager, Country Leader, Enterprise Chief Engineer

18+ years

●●●●●●●●●●○○

Director / Functional LeaderDirector or senior technical leader · variable 30% · modeled

Director of Engineering, Business Director, Systems Engineering Director, Regional Functional Leader

15-22 years

●●●●●●●●●○○○

Associate Director / Senior Technical ManagerDistinguished IC or associate director · variable 22.5% · modeled

Associate Director, Senior Technical Manager, PMO Leader, Functional Deputy

12-18 years

●●●●●●●●○○○○

Disclosed executive layer

B10 — Vice President

Vice President, Regional President, Corporate Officer, functional chief

Titles appear in Carrier leadership materials; individual pay is not disclosed unless the officer is a named executive

B11 — SVP, EVP, Segment President and C-suite

EVP and Chief Financial and Strategy Officer, Climate Solutions segment presidents, Chief Legal Officer, Chief Human Resources Officer

Salary, bonus target and annual long-term incentive value are disclosed in the proxy for the named executives only

B12 — Chairman and Chief Executive Officer

David L. Gitlin, Chairman and Chief Executive Officer

Fully disclosed each year in the Summary Compensation Table, the grant tables and the pay-ratio disclosure

VerifiedThe normalized ladder maps to a conventional industrial-technology structure rather than a software level framework. B0 and B1 correspond to apprentice and graduate intake, B2 and B3 to engineer and senior engineer, B4 and B5 to lead, supervisor and manager, B6 and B7 to principal, senior manager and associate director, B8 and B9 to director, senior director and general manager, B10 to vice president, B11 to the enterprise executive tier and B12 to the chairman and chief executive.

Track divergence

B0 to B3

Progression runs inside operations, service, engineering, analyst or early-career technical work. People-management scope is limited and variable pay is often absent or role-specific.

The first divergence. A lead engineer or project lead can stay an individual contributor while a supervisor or project manager takes formal delivery or people accountability at the same band.

B5 to B6

Advanced individual contributors — principal engineers, architects and technical specialists — can be paid alongside managers and senior managers without managing large teams.

B7 to B8

Associate director and director titles sit beside senior technical manager and chief engineer roles. Public evidence is much stronger on the management titles than on any formal distinguished-engineer ladder.

B9 to B10

Senior director, general manager, country leader and vice-president roles combine operating scope, strategy and talent accountability. Technical executive titles are possible but are not mapped publicly.

B11 to B12

Named enterprise executives and the chief executive. Compensation becomes directly observable through the proxy, but individual role scope makes a band range less meaningful than a person-by-person read.

Hierarchy qualifications and legacy structures

No enterprise band-to-title map is published. Carrier's careers materials and postings use ordinary job titles — engineer, senior engineer, manager, senior manager, associate director, director, general manager, vice president, president — with no numerical grade attached.
One India posting has carried an internal-looking label such as Grade M4, but a single posting is not evidence of an enterprise-wide hierarchy and the bundle explicitly declines to build on it.
Viessmann Climate Solutions and other legacy businesses may retain their own local grades, collective classifications and works-council arrangements. About 16,500 European employees were represented by works councils or unions at the end of 2025.
The clearest public hierarchy signal is an incentive pattern rather than a grade: current US director postings advertise both short- and long-term incentives, while sampled associate-director postings advertise short-term incentives and often omit long-term incentives.
Carrier is not an information-technology services company, so an onsite-versus-offshore framing is less useful than distinguishing corporate, engineering, manufacturing, field-service and commercial work. India centres provide nominal cost arbitrage but not necessarily identical role scope.
B11 and B12 are proxy reference populations, not location-indexed employee bands. They are excluded from the band table here so that city factors are never applied to a single worldwide executive figure.

Peer-level mapping

Band	Archetype	Peer mapping	Caveat
B0	Operations Associate / Apprentice	Apprentice or associate at an industrial peer; entry level at a technology employer	Carrier's manufacturing and field-service population has no clean equivalent at software-only employers, so a technology entry-level comparison overstates the match.Palm Beach Gardens anchor triangulated from Carrier operations postings and public aggregators; advertised span $36,800 to $63,000.
B1	Trainee / Associate / Junior Technician	Graduate trainee at an industrial peer; L1 to L2 at a technology employer	Carrier's early-career intake mixes graduate engineering programmes with service and technician apprenticeships that pay on different curves.Anchor from Carrier trainee and junior-technician postings plus aggregator triangulation; advertised span $47,200 to $81,900.
B2	Engineer I / Analyst / Field Technician	Engineer at an industrial peer; L3 at a technology employer	Role family and location dominate pay at this band far more than title; a controls engineer and a business analyst can sit two aggregator ranges apart.Carrier postings, Glassdoor, Levels.fyi, PayScale and Indeed; advertised span $73,500 to $120,800. Glassdoor mechanical engineer runs about $85,000 to $116,000.
B3	Senior Engineer / Senior Analyst / Service Engineer	Senior engineer at an industrial peer; L4 at a technology employer	This is the band the location registry benchmarks, so its city factors are the best-evidenced in the report, but no Carrier grade code corresponds to it.Official US and UK senior-engineering postings around $79,000 to $158,000 plus aggregators; advertised span $89,200 to $152,200.
B4	Lead Engineer / Project Lead	Lead, supervisor or project manager at an industrial peer; senior at a technology employer	B4 is where the individual-contributor and management tracks first diverge: a lead engineer stays technical while a supervisor takes formal people accountability at the same band.Carrier project-engineer and supervisor postings around $64,500 to $129,500 plus multi-source benchmark; advertised span $105,000 to $178,500.
B5	Principal Engineer / Technical Specialist	Principal engineer or manager at an industrial peer; staff or manager at a technology employer	Advanced individual contributors can be paid alongside managers here without managing a team, so a single band median hides two distinct populations.Carrier manager-level postings around $96,000 to $192,000 plus Glassdoor, Levels.fyi, Indeed and Comparably; advertised span $120,800 to $210,000.
B6	Staff / Principal Engineer / Architect	Senior manager or architect at an industrial peer; staff-plus or senior manager at a technology employer	No official crosswalk exists. Carrier advertises senior-manager ranges but never a grade, so the mapping is inference from scope language in postings.Carrier senior-manager postings around $117,500 to $234,500 plus external benchmarks; advertised span $141,800 to $246,800. Modeled equity is zero at the median with a $52,500 retention scenario at the top.
B7	Associate Director / Senior Technical Manager	Associate director at an industrial peer; senior manager at a technology employer	Sampled associate-director postings clearly advertise short-term incentives but often omit long-term incentives, so equity at this band should be treated as selective rather than routine.Low and high anchored to current Carrier associate-director postings of about $143,000 to $286,000; median and the $26,200 equity figure are modeled.
B8	Director / Functional Leader	Director at an industrial peer; director at a technology employer	Business profit-and-loss scope matters more than the title. This is the lowest band where public Carrier postings advertise both short- and long-term incentives.Low and high anchored to current Carrier director postings of about $174,500 to $348,500 that list STI and LTI; grant size is modeled because no director grant matrix is published.
B9	Senior Director / General Manager	Senior director or general manager at an industrial peer; senior director at a technology employer	A modeled bridge between disclosed director job ranges and named-executive proxy pay. Carrier discloses nothing directly at this band.Modeled interpolation between advertised director ranges and proxy executive pay; advertised-equivalent span $231,000 to $446,200.
B10	Vice President	Vice president at an industrial peer; VP at a technology employer	Corporate-officer status is not automatic at this band, and individual grants are not generally public even though this is the likely core long-term incentive population.Modeled from the public executive architecture and adjacent named-executive data; advertised-equivalent span $294,000 to $603,800 with a $200,000 to $1,000,000 modeled grant range.

Critical evidence warning

Every band figure on this page is modeled. Carrier does not publish salary ranges by grade, a merit matrix, a rating scale or an equity eligibility threshold, so the anchors were triangulated from Carrier job postings, Glassdoor, Levels.fyi, PayScale, Indeed, Comparably and the public H-1B wage file, then indexed by city and converted at one dated FX table. Those sources are not internally consistent — Glassdoor puts a Carrier mechanical engineer around $85,000 to $116,000 and a software engineer around $91,000 to $127,000 while Levels.fyi and Comparably report higher medians for selected technical and leadership samples — which is why the bundle models ranges rather than point estimates. Treat a band cell as a planning envelope, never as an offer, an internal grade or a Carrier commitment.

Compensation by Band — Palm Beach Gardens, FL

Low / median / high annual values at 1.00× base and 1.00× total-compensation factors versus Palm Beach Gardens, FL. Total equals base plus bonus plus annualized equity.

Band	Title	Base	Variable	Total TC	Equity
B0	Operations Associate / Apprentice 0-2 years · modeled	$40K – $54K	—	$47K $40K – $54K	—
B1	Trainee / Associate / Junior Technician 0-2 years · modeled	$52K – $70K	3%	$63K $53K – $72K	—
B2	Engineer I / Analyst / Field Technician 1-4 years · modeled	$80K – $109K	5%	$99K $84K – $114K	—
B3	Senior Engineer / Senior Analyst / Service Engineer 3-7 years · modeled	$98K – $133K	7.5%	$124K $106K – $143K	—
B4	Lead Engineer / Project Lead 5-9 years · modeled	$116K – $157K	10%	$150K $128K – $173K	—
B5	Principal Engineer / Technical Specialist 7-12 years · modeled	$134K – $181K	12.5%	$177K $151K – $204K	—
B6	Staff / Principal Engineer / Architect 9-15 years · modeled	$161K – $217K	17.5%	$222K $189K – $255K	—
B7	Associate Director / Senior Technical Manager 12-18 years · modeled	$183K – $247K	22.5%	$290K $246K – $333K	$26K
B8	Director / Functional Leader 15-22 years · modeled	$232K – $314K	30%	$434K $369K – $499K	$79K
B9	Senior Director / General Manager 18+ years · modeled	$277K – $374K	40%	$613K $521K – $705K	$158K
B10	Vice President 20+ years · modeled	$357K – $483K	60%	$1.20M $1.02M – $1.38M	$525K

Global headquarters · 9 reported band cellsReportedModeledVerifiedAnchor medians are Palm Beach Gardens figures in USD, rebuilt as base plus target variable pay plus modeled annualized equity. The bundle's own all-in figures additionally loaded a 12 to 20 percent employer benefit cost by country; that load is employer cost rather than pay and has been stripped here, so every total reconciles to its own components. Each city then applies a single pay index divided by the 1.05 Palm Beach Gardens index, and local currency is converted at the 25 August 2026 XE table.

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Total Compensation Range by Band

Total compensation in Palm Beach Gardens, FL across the employee bands. Ranges are planning envelopes around the median, not offer bands.

Global Footprint & Pay Arbitrage

Carrier operates in more than 52 countries with a workforce split roughly 34 percent Americas, 36 percent Europe and 30 percent Asia Pacific, Middle East and Africa. City-level headcount is not disclosed anywhere in the filings, so the registry below describes site type and pay index, never staffing concentration.

~47,000

Employees at 31 December 2025

52+

Countries of operation

$21.75B

2025 net sales

~16,500

European employees under works councils or unions

Office and market catalogue — calibration factors versus Palm Beach Gardens, FL

Location	Likely office profile	Presence	Base	TC
Palm Beach Gardens, FL United States · USD	Global headquarters and corporate centre, and the anchor for every band figure in this report. Also the highest-paying Carrier H-1B worksite at a $204,298 median base across nine records.	Global headquarters	1.00×	1.00×
Farmington, CT United States · USD	Engineering and corporate-heritage site from the United Technologies era, indexed level with Palm Beach Gardens. One H-1B record at $121,451 base.	Official site	1.00×	1.00×
Charlotte, NC United States · USD	Commercial, digital and services hub. Seven H-1B records give a $143,978 median base, the second-highest disclosed Carrier worksite median after the headquarters.	Official site	0.91×	0.91×
Atlanta, GA United States · USD	Sales, services and digital site indexed at 0.95 against the US national reference. Two H-1B records at a $125,547 median base.	Official site	0.91×	0.91×
Kennesaw, GA United States · USD	Engineering, controls and services site. Eight H-1B records at a $125,185 median base make it one of the better-evidenced Carrier technical locations.	Official site	0.88×	0.88×
Indianapolis, IN United States · USD	Engineering, manufacturing and services site. Six H-1B records show a wide $97,552 to $149,729 quartile spread around a $104,655 median.	Official site	0.86×	0.86×
East Syracuse, NY United States · USD	Engineering, research and operations site in Carrier's original upstate New York cluster. Six H-1B records at a $103,396 median base.	Official site	0.84×	0.84×
Collierville, TN United States · USD	Manufacturing and engineering campus at the low end of the US index. The single H-1B record at $161,866 is a specialist role and not representative of the site.	Official site	0.81×	0.81×
Toronto Canada · CAD	Canadian headquarters and commercial centre, the highest-indexed Canadian market at 0.78 against the US reference, ahead of Vancouver at 0.80 of that reference and Montreal at 0.70.	Country headquarters	0.74×	0.74×
Monterrey Mexico · MXN	Regional manufacturing and engineering base, the centre of Carrier's Mexican industrial footprint alongside Santa Catarina in Nuevo Leon. Roughly a quarter of the anchor in nominal USD.	Regional hub	0.26×	0.26×
Mexico City Mexico · MXN	Corporate and commercial site, the highest-indexed Mexican market at 0.30 against the US reference and about 12 percent above Monterrey.	Official site	0.29×	0.29×
Sao Paulo Brazil · BRL	Brazilian headquarters and commercial centre. Manaus, the manufacturing site, indexes about 21 percent lower again, the widest intra-country gap in the Americas registry.	Country headquarters	0.27×	0.27×
London United Kingdom · GBP	Regional, commercial and corporate site and the highest-indexed UK market at 0.68 against the US reference, ahead of Leatherhead at 0.62 and Basingstoke at 0.60.	Regional hub	0.65×	0.65×
Warrington United Kingdom · GBP	Engineering and field-service site and the lowest-indexed UK market in the registry at 0.55, roughly 19 percent below London for equivalent scope.	Official site	0.52×	0.52×
Munich Germany · EUR	Regional and engineering centre and the highest-indexed German market at 0.75, above Eschborn at 0.70, Berlin at 0.65 and Allendorf at 0.62.	Regional hub	0.71×	0.71×
Allendorf (Eder) Germany · EUR	Viessmann Climate Solutions headquarters, manufacturing and research site acquired in 2024. Legacy Viessmann pay systems and collective arrangements have no published harmonisation map.	Acquired-business headquarters	0.59×	0.59×
Paris France · EUR	Corporate and commercial centre alongside the Rueil-Malmaison country headquarters. France is the one market with a dedicated equity wrapper, the French sub-plan for restricted stock under the 2020 LTIP.	Country headquarters cluster	0.69×	0.69×
Milan Italy · EUR	Commercial and regional site indexed at 0.60 against the US reference, level with Lyon and roughly 20 percent below Munich.	Regional hub	0.57×	0.57×
Madrid Spain · EUR	Commercial and regional site and the lowest-indexed western European market in the registry at 0.55, level with Warrington.	Regional hub	0.52×	0.52×
Amsterdam Netherlands · EUR	Commercial and regional site indexed at 0.72, level with Paris and about 9 percent above other Dutch locations in the registry.	Regional hub	0.69×	0.69×
Warsaw Poland · PLN	Shared-services and commercial centre and the cheapest European market in the registry at 0.38 against the US reference, just below Prague.	Shared-services centre	0.36×	0.36×
Prague Czech Republic · CZK	Engineering and shared-services centre indexed at 0.40, the second European nearshore location alongside Warsaw and roughly 47 percent below Munich.	Shared-services centre	0.38×	0.38×
Stockholm Sweden · SEK	Commercial and engineering site indexed at 0.66, level with the Belgian and other-Netherlands entries and just below Helsinki at 0.67.	Regional hub	0.63×	0.63×
Bengaluru India · INR	Engineering, digital and technology centre and the joint-highest Indian technical index at 0.20, level with Gurugram and below Mumbai. A senior engineer models at about 2.1 million rupees base.	Engineering centre	0.19×	0.19×
Hyderabad India · INR	Engineering and digital centre indexed at 0.18, about 10 percent below Bengaluru and level with Pune for equivalent scope.	Engineering centre	0.17×	0.17×
Gurugram India · INR	Corporate, sales and engineering site in the National Capital Region, indexed level with Bengaluru at 0.20 against the US reference.	Official site	0.19×	0.19×
Mumbai India · INR	Commercial and corporate site and the most expensive Indian market in the registry at 0.22, about 47 percent above Ahmedabad and Vadodara at 0.15.	Official site	0.21×	0.21×
Shanghai China · CNY	China headquarters covering commercial and engineering work, indexed at 0.32 just below Shenzhen at 0.33 and above Beijing at 0.30 and Guangzhou at 0.28.	Country headquarters	0.30×	0.30×
Tokyo Japan · JPY	Japan headquarters and commercial centre, indexed at 0.60 against the US reference, the highest Asian market in the registry after Australia.	Country headquarters	0.57×	0.57×
Singapore Singapore · SGD	Asia-Pacific regional headquarters at a 0.52 index, roughly double Kuala Lumpur at 0.25 and the regional coordination point for the APMEA segment.	Regional headquarters	0.49×	0.49×
Sydney Australia · AUD	Australian headquarters and commercial centre, the highest-indexed non-US market in the registry at 0.83 and about 79 percent of the Palm Beach Gardens anchor in nominal USD.	Country headquarters	0.79×	0.79×
Melbourne Australia · AUD	Commercial and field-service centre indexed at 0.80, just below Sydney and Perth at 0.82, with Adelaide the lowest Australian market at 0.72.	Official site	0.76×	0.76×
Dubai United Arab Emirates · AED	Middle East regional hub and commercial centre at a 0.55 index, ahead of Abu Dhabi at 0.53, Doha at 0.50 and Riyadh at 0.48.	Regional hub	0.52×	0.52×
Riyadh Saudi Arabia · SAR	Commercial and projects centre indexed at 0.48, about 13 percent below Dubai and roughly 7 percent above Jeddah at 0.45.	Regional hub	0.46×	0.46×

Site-type labels come from the bundle's location registry and indicate the kind of work done at a location, not its size. Carrier discloses regional workforce mix only, so no city here should be read as the largest office, and the Viessmann Climate Solutions integration and 2024 to 2025 divestitures make any historical site comparison unreliable.

Palm Beach Gardens, FL anchor medians — the basis of every modeled cell

Band	Base	Stock	Bonus	Total
B0 · Operations Associate / Apprentice	$47K	$0	$0	$47K
B1 · Trainee / Associate / Junior Technician	$61K	$0	$2K	$63K
B2 · Engineer I / Analyst / Field Technician	$95K	$0	$5K	$99K
B3 · Senior Engineer / Senior Analyst / Service Engineer	$116K	$0	$9K	$124K
B4 · Lead Engineer / Project Lead	$137K	$0	$14K	$150K
B5 · Principal Engineer / Technical Specialist	$158K	$0	$20K	$177K
B6 · Staff / Principal Engineer / Architect	$189K	$0	$33K	$222K
B7 · Associate Director / Senior Technical Manager	$215K	$26K	$48K	$290K
B8 · Director / Functional Leader	$273K	$79K	$82K	$434K
B9 · Senior Director / General Manager	$326K	$158K	$130K	$613K
B10 · Vice President	$420K	$525K	$252K	$1.20M

Palm Beach Gardens, Florida is the anchor. It carries the 1.05 pay index against the bundle's US national reference, is the global headquarters, and is the highest-paying Carrier H-1B worksite at a $204,298 median base across nine records.
Farmington, Connecticut carries the same 1.05 index, reflecting the United Technologies heritage engineering cluster rather than a second headquarters.
The US index spread is narrow, from 1.05 at Palm Beach Gardens and Farmington down to 0.82 for cross-border South Texas operations, so US city choice moves a package by roughly a fifth at most.
The widest gap in the registry is Palm Beach Gardens against Vietnam and Indonesia at a 0.15 and 0.16 index, roughly one seventh of the anchor in nominal USD before tax, benefits and purchasing power are considered.

Model rules

City factors are the bundle's pay index divided by 1.05, the Palm Beach Gardens index, so the anchor sits at exactly 1.00 and every other market is expressed against it.
The index is applied flat across the whole ladder. The bundle shows no level-dependent geographic compression — Bengaluru is about 0.19 of Palm Beach Gardens at senior-engineer level and about 0.19 at director level — so no top-of-ladder factors are set on any location.
The bundle's published all-in figures added a modeled employer benefit load of 12 to 20 percent by country. That is employer cost rather than employee pay and has been removed here, so each band total is exactly base plus target variable plus modeled annualized equity.
All model values are generated in USD and converted through a single XE table dated 25 August 2026, then rounded. Local figures will differ from any other provider or fixing time; the Reserve Bank of India reference rate around the same date was close but not identical.
Equity-value equivalents use a $58.52 share price at the 25 August 2026 close. That is a spot illustration, not an instrument valuation: stock appreciation rights are worth materially less than the underlying share and performance share units carry payout leverage.
B11 and B12 are global proxy references and are deliberately excluded from the band table so that no city factor is ever applied to a single worldwide executive figure.

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Variable Pay & Annual Cash Incentive

Carrier discloses its executive Annual Bonus Plan in detail and discloses nothing about employee bonus targets, cadence or payout history. The corporate performance factor has moved from 143 percent to 90 percent to 39 percent across the last three performance years, which is the single most important variable-pay fact on this page.

Band	Target	Mechanism	Recent payout
B0 Operations Associate / Apprentice	0%	Role and country plan; no routine variable pay evidenced at this band	Not publicly disclosed
B1 Trainee / Associate / Junior Technician	3%	Role and country plan; short-term incentive eligibility varies by posting	Not publicly disclosed
B2 Engineer I / Analyst / Field Technician	5%	Role and country plan; some official postings state the role may be eligible for a short-term incentive	Not publicly disclosed
B3 Senior Engineer / Senior Analyst	7.5%	Role and country plan; short-term incentive language appears often in US postings but never with a target percentage	Not publicly disclosed
B4 Lead Engineer / Project Lead	10%	Role and country plan; sales, project, service and corporate plans may use different measures and timing	Not publicly disclosed
B5 Principal Engineer / Manager	12.5%	Role and country plan; target opportunity rises with scope rather than with a published grade	Not publicly disclosed
B6 Staff Engineer / Senior Manager	17.5%	Role and country plan; modeled below the named-executive tier	Not publicly disclosed
B7 Associate Director	22.5%	Current associate-director postings clearly support short-term incentive eligibility; the target percentage is not advertised	Not publicly disclosed
B8 Director / Functional Leader	30%	Director postings advertise both short- and long-term incentives; the grid behind them is private	Not publicly disclosed
B9 Senior Director / General Manager	40%	Modeled bridge between advertised director ranges and the disclosed executive targets	Not publicly disclosed
B10 Vice President	60%	Modeled from the public executive architecture; the first band likely to sit inside the executive Annual Bonus Plan framework	Not publicly disclosed
B11 SVP, EVP, Segment President and C-suite	90% to 100%	Annual Bonus Plan: eligible base salary x target percentage x corporate or segment factor x individual factor	Corporate factor 143 percent for 2023, 90 percent for 2024 and 39 percent for 2025; 2025 segment factors ran 30 to 68 percent
B12 Chairman and Chief Executive Officer	175%	Annual Bonus Plan on the same formula, with threshold, target and maximum opportunities and a capped payout	$1,023,750 paid for 2025 against a $2,625,000 target, a 39 percent corporate factor with the individual factor held at 100 percent

ModeledVerifiedThe disclosed formula is eligible base salary multiplied by the target bonus percentage, then by a corporate or segment performance factor, then by an individual performance factor, inside threshold, target and maximum opportunities. For the 2025 performance year the Compensation Committee held every named executive's individual factor at 100 percent so that weak financial results flowed through rather than being offset by positive discretion. The previous year ran the other way: a calculated 112 percent corporate factor was cut to 90 percent by downward discretion.

Executive incentive targets — percent of salary

Chairman and Chief Executive Officer

175% of $1,500,000 salary

A $2,625,000 target opportunity, the largest disclosed target and the one most exposed to the corporate factor.

EVP, Chief Financial and Strategy Officer

100% of $900,000 salary

A $900,000 target. Patrick Goris is paid on the corporate factor rather than a segment factor.

President, Climate Solutions Americas

90% of $750,000 salary

A $675,000 target settled on a 30 percent segment factor for 2025, the weakest segment outcome disclosed.

President, Climate Solutions APMEA

90% of $700,000 salary

A $630,000 target settled on a 55 percent segment factor for 2025.

President, Climate Solutions Transportation

90% of $680,000 salary

A $612,000 target settled on a 68 percent segment factor for 2025, the strongest segment outcome disclosed.

Named-executive outcomes

Executive	Target	Paid	Attainment
David Gitlin	$2,625,000	$1,023,750	39% corporate factor, 100% individual
Patrick Goris	$900,000	$351,000	39% corporate factor, 100% individual
Michael Gierges	$630,000	$346,500	55% APMEA segment factor, 100% individual
Gaurang Pandya	$675,000	$202,500	30% Americas segment factor, 100% individual
Edward Dryden	$612,000	$416,160	68% Transportation segment factor, 100% individual

Employee payout timing and history

Carrier publishes no target bonus percentage by employee level or country, no payout cadence for non-executive plans, no employee-wide payout percentages for the last three years and no standard spot bonus or commission schedule. Current job postings confirm only that short-term incentive eligibility varies by role. Every B0 to B10 target on this page is therefore modeled and should not be quoted back to a recruiter as a Carrier figure.

Sales and special incentives

No global project-utilisation, customer-satisfaction or deal-incentive formula was found in the reviewed materials. Sales, project, service and executive plans may use different measures and different timing, and commercial roles in Australia and Europe additionally advertise vehicle allowances or company vehicles that sit outside the incentive plan entirely.

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Equity — RSUs, PSUs, Options & ESPP

Carrier's filings disclose no broad-based employee stock purchase plan and no employee stock ownership plan. The core vehicle is the amended 2020 Long-Term Incentive Plan, which grants stock appreciation rights, options, restricted stock, RSUs, PSUs and cash-based awards to a population the Compensation Committee selects.

Carrier Global Corporation 2020 Long-Term Incentive Plan (amended)

Active; 17 million additional shares approved by shareholders on 9 April 2025

Verified

Omnibus equity and cash incentive plan covering employees, non-employee directors and other selected service providers. Instruments are stock appreciation rights, options, restricted stock, RSUs, PSUs and other stock- and cash-based awards. SARs, options and RSUs generally vest over three years; PSUs generally run a three-year performance and vesting period weighted 50 percent EPS compound growth and 50 percent relative total shareholder return. Repricing without shareholder approval is prohibited, and awards are subject to clawback policies and stock-ownership expectations.

Reserve: 107.0 million maximum authorised shares after the 2025 amendment, up from 90.0 million; 25.6 million remained available at 31 December 2025

Carrier 2025 Form 10-K; Carrier 2025 and 2026 proxy statements

Carrier Global Corporation LTIP PSU Deferral Plan

Active; effective after the 2020 separation and amended from time to time

Verified

A nonqualified deferral arrangement that lets designated senior employees defer settlement of eligible performance share unit awards into deferred share units. The underlying PSU performance and service conditions continue to govern; only settlement timing changes under the participant's election.

Reserve: Uses underlying 2020 LTIP awards; no separate public share pool identified

Carrier SEC exhibit index and PSU Deferral Plan exhibit

French Sub-Plan for Restricted Stock under the 2020 LTIP

Active; adopted under the 2020 LTIP

Verified

A country wrapper that structures restricted stock and RSU awards for selected French participants to meet French legal and tax requirements, including local holding and vesting rules on top of the parent plan terms. It is a compliance mechanism, not evidence that French employees broadly receive equity.

Reserve: Draws from the 2020 LTIP reserve

Carrier SEC exhibit index and French Sub-Plan exhibit

Carrier Board of Directors Deferred Stock Unit Plan

Active for the 2025 to 2026 board cycle

Verified

Non-employee directors receive deferred stock units as the equity half of the board retainer. DSUs are fully vested at grant but settle only after board service ends, in a lump sum or permitted instalments. Directors may elect to take the cash retainer in DSUs as well, and dividend equivalents accrue.

Reserve: Funded under approved director arrangements and the applicable equity authorisation

Carrier 2026 proxy statement

Full-value awards such as RSUs and PSUs generally consume two reserve shares for each share granted, while options and stock appreciation rights generally consume one. A simple shares-issued percentage therefore misstates how fast the reserve depletes.
Cancelled or forfeited awards can return capacity to the reserve, and PSU outcomes can settle above or below target, so the 81.4 million implied consumption is a plan-ledger measure rather than a claim that 81.4 million common shares have been issued.
Securities issuable under outstanding awards at 31 December 2025 were 9.104 million shares, with a further 2.572 million issuable if PSUs pay above target.
At the $58.52 reference price the 25.6 million remaining reserve shares carry a spot market-value equivalent of about $1.498 billion. That is an illustration only, not an accounting liability, a grant commitment or a dilution forecast.

2020 LTIP reserve and outstanding awards at 31 December 2025

107.0M

Amended maximum authorised reserve

90.0 million original authorisation including awards assumed at the 2020 separation, plus 17.0 million approved on 9 April 2025.

25.6M

Shares available

Remaining capacity under the plan's weighted share-counting rules, implying 81.4 million consumed or about 76.1 percent of the amended reserve.

19.350M

SARs and options outstanding

At a $39.31 weighted-average exercise price, of which 11.909 million were exercisable.

2.120M

Unvested PSUs

At a $55.17 weighted-average grant-date fair value, alongside 0.981 million unvested RSUs at $50.41.

Vesting — common reported employee schedule

Year 1

Nothing required to be vested

+Retirement provisions can preserve vesting for awards held at least one year, subject to award terms. · annual tranche

Year 2

Not published

+Carrier discloses a three-year service period for SARs, options and RSUs but does not publish the increment pattern inside it. · annual tranche

Year 3

100% of SARs, options and RSUs

+Service condition satisfied. Dividend equivalents accrued on RSUs during vesting are settled in shares. · annual tranche

Year 3 (PSUs)

0% to 200% of target PSUs

+Three-year performance period on equally weighted EPS compound growth and relative total shareholder return against a subset of S&P 500 industrials. Dividends do not accrue during the performance period. · annual tranche

Stock appreciation rights are fair-valued at grant through a binomial lattice model, which is why the reported grant-date value of a SAR award is far below the share count multiplied by the share price. The CEO's 2025 award illustrates the point: 321,970 SARs at a $65.21 base price carried a $5.747 million grant-date fair value, while 88,150 target PSUs carried $5.635 million. The 200 percent maximum is not theoretical — the same grant table shows 176,300 maximum PSUs against the 88,150 target.

Eligibility by hierarchy level

No formal minimum long-term incentive band is published anywhere in Carrier's filings or careers materials.
B0 through B5 show no routine grant in public evidence. Spot or retention awards may exist but no public standard was found, and no broad-based purchase or ownership plan exists to fall back on.
B6 senior managers have no disclosed threshold; the bundle models a zero median with a $50,000 to $52,500 retention scenario at the top of the range, which is a scenario rather than an entitlement.
B7 associate directors are the ambiguous band: postings clearly mention short-term incentives, some omit long-term incentives, and the modeled grant runs zero at the low end to about $75,000 to $78,800 at the high end.
B8 directors are the lowest band where public Carrier postings advertise long-term incentives directly. Grant size is still modeled at roughly $25,000 to $131,200 because no director grant matrix is published.
B10 vice presidents are the likely core plan population with a modeled $200,000 to $1,000,000 range, and B11 and B12 are the only tiers where actual grant values and award counts are disclosed.

Indicative annual grant value by band — Palm Beach Gardens, FL

Band	Annual value (USD)	Median	Shares at $58.52
B7 · Associate Director / Senior Technical Manager	$20K – $33K	$26K	~336–560
B8 · Director / Functional Leader	$59K – $99K	$79K	~1,010–1,683
B9 · Senior Director / General Manager	$118K – $197K	$158K	~2,019–3,364
B10 · Vice President	$394K – $656K	$525K	~6,728–11,214

Annualized planning value (±25%), not the face value of every new-hire grant. Share equivalents use the $58.52 reference price at 2026-08-25 and ignore plan valuation rules and PSU performance. Highlighted rows are disclosed grant-date stock awards.

Named executive target equity

Executive	Target	Units / structure
David Gitlin Chairman and Chief Executive Officer	$11.900M total target LTI	$5.950M PSUs and $5.950M SARs; granted 6 February 2025 as 88,150 target PSUs and 321,970 SARs at a $65.21 base price, an $11.382M grant-date fair value
Patrick Goris EVP, Chief Financial and Strategy Officer	$3.600M total target LTI	$1.800M PSUs and $1.800M SARs; 26,670 target PSUs and 97,405 SARs at $65.21
Gaurang Pandya President, Climate Solutions Americas	$2.475M total target LTI	$1.2375M PSUs and $1.2375M SARs; 18,335 target PSUs and 66,965 SARs at $65.21
Edward Dryden President, Climate Solutions Transportation	About $2.026M grant-date value	15,690 target PSUs and 57,310 SARs at $65.21, the split reflected in award counts rather than a published target value
Michael Gierges President, Climate Solutions APMEA	About $1.670M annual target LTI plus hire awards	12,655 target PSUs and 46,210 SARs on the annual cycle, with additional RSU and SAR awards made on hire

VerifiedNo employee stock purchase plan and no employee stock ownership plan were identified in the reviewed Carrier filings. There is no discount, no lookback and no purchase period to model. For most Carrier employees the practical consequence is that the entire package is cash: base salary plus a role-dependent short-term incentive, with equity a selective retention instrument that becomes routine only around the director tier.

Benchmark your equity

Executive Compensation

The 2026 proxy is the only place Carrier compensation can be read exactly. It covers five named executives for the 2025 performance year, a year in which the corporate bonus factor fell to 39 percent and the chief executive's SEC compensation actually paid turned negative on equity revaluation.

CEO total — David L. Gitlin

$14.96M

Stock awards are 76.1% of the reported total; salary 10% and non-equity incentive 7%

10%

76%

Salary $1.50M

Incentive $1.02M

Equity $11.38M

Base salary$1,500,000

PSU and stock awards$5,634,548

SAR and option awards$5,747,165

Non-equity incentive$1,023,750

Pension and deferred compensation change$237,661

All other compensation$819,789

Reported total$14,962,913

Reading the package

Base salary was 10.0 percent of the reported total, PSU and stock awards 37.7 percent, SAR and option awards 38.4 percent, the non-equity incentive 6.8 percent, the pension and deferred-compensation change 1.6 percent and all other compensation 5.5 percent. Equity was therefore 76.1 percent of the package on a grant-date basis. The other compensation line covers company retirement contributions and benefits plus personal aircraft use, insurance, financial planning and health-related items. Grant-date value is not realised value: for the same 2025 year Carrier's SEC compensation actually paid figure for Gitlin was negative $27.79 million, because mark-to-market revaluation of unvested and outstanding equity can dominate the calculation in a year when the share price falls.

CEO-to-median-employee ratio

319:1

Median employee $46,976 · Carrier identified a global median employee with $46,976 of annual compensation against $14,962,913 of reported chief executive compensation. The proxy cautions that permitted methodologies, country exclusions and payroll-system differences make cross-company ratio comparison imperfect, and Carrier's low median reflects a workforce that is roughly two thirds outside the United States and heavily weighted to manufacturing and field service..

Peer CEO comparison

Trane Technologies · Dave Regnery · FY2025$27.26M

Trane Technologies proxy statement; special awards and pension treatment affect comparability

Johnson Controls · Joakim Weidemanis · FY2025$19.96M

Johnson Controls proxy statement; the table reflects a partial-year transition and the ratio used annualized compensation

Carrier Global · David Gitlin · FY2025$14.96M

Carrier 2026 proxy statement, full-year Summary Compensation Table

Lennox International · Alok Maskara · FY2025$8.43M

Lennox proxy statement

Carrier's chief executive sits below Trane at $27.26 million and Johnson Controls at $19.96 million and above Lennox at $8.43 million, while its 319 to 1 ratio sits between Trane at 402 to 1 and Johnson Controls at 338 to 1, well above Lennox at 133 to 1. The comparison is directional only: tenure, special awards, pension accounting, sign-on grants and the compensation actually paid methodology produce large differences that have nothing to do with recurring target pay. Pay ratios in this peer set are driven mostly by how much manufacturing and field-service work sits inside the reporting entity.

Named Executive Officers & Board

Carrier's disclosed leadership is a chairman and chief executive plus a finance and strategy officer and segment presidents for Climate Solutions Americas, Europe, Asia Pacific Middle East and Africa, and Transportation. Only the five named executives have public compensation.

David L. Gitlin · Chairman and Chief Executive Officer$14.96M

Salary $1.50M · Cash incentive $1.02M · Stock $11.38M · Other $1.06M · Equity 76.1%

Michael L. Gierges · President, Climate Solutions Asia Pacific, Middle East and Africa$7.06M

Salary $530K · Cash incentive $1.96M · Stock $3.59M · Other $981K · Equity 50.9%

Patrick Goris · EVP, Chief Financial and Strategy Officer$4.89M

Salary $888K · Cash incentive $351K · Stock $3.44M · Other $206K · Equity 70.4%

Gaurang Pandya · President, Climate Solutions Americas$3.44M

Salary $738K · Cash incentive $203K · Stock $2.37M · Other $128K · Equity 68.9%

Edward C. Dryden · President, Climate Solutions Transportation$3.23M

Salary $673K · Cash incentive $416K · Stock $2.03M · Other $112K · Equity 62.8%

Michael Gierges is the outlier in the 2025 table. His $530,303 salary reflects a partial year, his $1,610,000 cash bonus is a sign-on award rather than an annual incentive, and his $980,626 of other compensation includes proxy-documented relocation and long-term international-assignment support covering housing, travel, household movement and tax-related reimbursement. Reading his $7.06 million total as recurring pay for the role would be wrong. Edward Dryden's $416,160 payout was the largest relative outcome in the group because Transportation delivered a 68 percent segment factor while Climate Solutions Americas delivered 30 percent.

Board compensation framework

Element	Amount	Notes
Non-employee director base retainer	$325,000	$130,000 in cash and $195,000 in deferred stock units. Directors may elect to take the cash retainer in DSUs as well.
Lead independent director	+$60,000	$24,000 cash and $36,000 in deferred stock units on top of the base retainer.
Audit Committee chair	+$35,000	$14,000 cash and $21,000 in deferred stock units, the highest committee chair premium.
Audit Committee member	+$15,000	$6,000 cash and $9,000 in deferred stock units. Audit is the only committee paying a membership premium.
Compensation, Governance or Technology and Innovation Committee chair	+$30,000	$12,000 cash and $18,000 in deferred stock units for each of the three chair roles.

Director deferred stock units are fully vested at grant but generally settle only after a director leaves the board, in a lump sum or permitted instalments, and dividend equivalents accrue in the meantime. That structure means a director's realised value tracks the share price across their whole tenure rather than a grant year. The board maintained the same compensation levels for the April 2026 to April 2027 cycle despite the sharp decline in the executive bonus factor.

Regional heads and other officers

Executives may defer up to 50 percent of salary and 70 percent of annual bonus under disclosed nonqualified arrangements. The Savings Restoration Plan credits matching contributions that cannot be made in the tax-qualified plan because of Internal Revenue Code limits, and the Company Automatic Contribution Excess Plan provides age-based automatic contributions on compensation above those limits. Executive pay is benchmarked against a peer-market median, but individual positioning varies with performance, scope, tenure and retention need, and awards are subject to clawback policies and stock-ownership expectations.

Insider Trades — SEC Forms 3/4/5

Carrier is a US-listed SEC registrant, so the relevant filings are Forms 3, 4 and 5, Form 144, Schedules 13D and 13G and company repurchase disclosures. Indian and Australian insider frameworks do not apply to its NYSE-listed common stock.

Date	Person	Transaction	Shares	Price	Value
2026-05-20	Viessmann Traeger HoldCo GmbH Strategic shareholder and affiliate	Sale Block sale under Rule 144 worth approximately $750 million, filed on Schedule 13D with a Form 144 and Form 4. An affiliate shareholder transaction, not an employee equity event.	12,094,823	$62.01	$750.00M
2026-05-01	Gaurang Pandya President, Climate Solutions Americas	Withholding 50,616 RSUs vested and 21,546 shares were withheld to cover tax. Coded as a disposition but not a discretionary sale.	21,546	$67.62	$1.46M
2026-02-01	David L. Gitlin Chairman and Chief Executive Officer	Withholding Shares withheld on a performance share unit settlement to cover tax. The vesting itself, not a market sale.	35,797	$59.58	$2.13M
2025-11-25	David L. Gitlin Chairman and Chief Executive Officer	Purchase Open-market acquisition of about $1.02 million, analytically the opposite of routine vesting and the only discretionary insider buy in the window.	19,300	$52.62	$1.02M
2025-07-01	Edward C. Dryden President, Climate Solutions Transportation	Withholding 6,791 RSUs vested and 2,180 shares were withheld for tax at a $74.30 price, the highest reference price in this window.	2,180	$74.30	$162K

Reading guide

Withholding is not sellingThree of the five filings here are tax withholding on RSU or PSU settlement. They are coded as dispositions in Form 4 but carry no signal about an insider's view of the stock.

The one real signalGitlin's 25 November 2025 open-market purchase of 19,300 shares at $52.62 is the only discretionary acquisition in the set, and it came at the low end of the price range in the window.

Viessmann overhangThe May 2026 block sale of 12.09 million shares was a strategic-shareholder exit, not an employee event. Carrier had already repurchased 4,267,425 shares directly from Viessmann in June 2025 at $70.30 per share for $300 million, as disclosed in the 2025 Form 10-K.

Price contextReference prices in these filings run from $52.62 in November 2025 to $74.30 in July 2025 against the $58.52 close on 25 August 2026 used for every equity-value equivalent on this page.

Benchmark your package

Benefits & Perks

Carrier designs benefits locally and publishes far more about the United States than anywhere else. Where a country entry below is a legal minimum it is labelled a statutory floor and should not be read as a Carrier enhancement; Carrier may well provide more, but the public evidence does not show it.

United States

Medical — Medical, dental and vision with tax-advantaged accounts. Medical, dental and vision plans with wellness incentives, a health savings account and health and dependent-care spending accounts. Carrier does not publish the insurer or the employer premium share. [Official company]
Retirement — Carrier Retirement Savings Plan with Lifetime Income Strategy. Public plan sources report a 60 percent match on the first 6 percent contributed, a maximum match of 3.6 percent of pay. Role- and entity-specific automatic contributions may also apply. [Official company]
Time off — Up to 15 vacation days plus sick, personal and holiday time. Current US postings commonly list up to 15 vacation days, 5 sick days, 5 personal days and 13 paid holidays, plus purchased vacation and statutory or protected leaves. Exact entitlement varies by role and entity. [Official job signal]
Protection — Life, AD&D and disability cover. Life and accidental death and dismemberment insurance, short- and long-term disability and leave programmes appear in official job postings. [Official job signal]
Development — Tuition assistance and employee assistance. Tuition assistance and employee assistance and wellness programmes appear in current postings. No global reimbursement cap is published. [Official job signal]
Work model — worX flexible-work framework. Carrier describes flexible work under a worX framework, but eligibility and in-office expectations depend on the role and no single global office-day requirement is published. [Official company]

Global programs

Well-being — Four-dimension well-being programme. Carrier describes physical, financial, mental and social well-being programmes, including employee assistance resources, available across its footprint. [Official company]
Development — Learning and certification support. Professional development and tuition or certification support are advertised in selected roles. No single global reimbursement cap and no uniform sabbatical policy were found. [Official job signal]
Mobility — Relocation and assignment support. The only documented mobility package is the executive one in the 2026 proxy. There is no published global relocation schedule by band. [Disclosed]
Pay equity — Pay-equity review process. Carrier states that it conducts pay-equity reviews and monitors compensation practices. Detailed statistical outcomes by gender, race or country are not disclosed in the reviewed materials. [Official company]
Equity — No broad-based purchase plan. There is no employee stock purchase plan and no employee stock ownership plan anywhere in the footprint, so no employee can buy Carrier stock at a discount through payroll. [Disclosed]

Benefit fields not publicly quantified

The research did not find a reliable company-wide disclosure of the India health insurer or family-floater sum insured, a universal India leave-day matrix or paternity entitlement, global certification-reimbursement caps, a uniform sabbatical policy, one global hybrid-work day requirement, the Australian private-health employer contribution, exact pension percentages for every UK and European entity, or a global relocation schedule by band. Treat all of those as offer-letter or local-policy items and ask for them in writing.

Performance Review & Pay Progression

Carrier discloses a detailed executive compensation-governance calendar and almost nothing about the employee review cycle. The strongest honest conclusion is that role-level reviews exist and that no single global merit month or rating scale can be evidenced.

Not publicly disclosed

A company-wide employee rating scale or its labels.

Forced-ranking or bell-curve distribution percentages.

Merit increase percentages by rating.

Standard promotion timing and promotion-hike percentages by level.

A single global month when all employee increases take effect.

A universal probation or confirmation process across countries.

Employee-wide variable payout percentages for the last three years.

Any published lateral-hire premium or internal-promotion pay gap.

Modeled promotion planning timeline

Band	Years to next scope	Promotion hike	Status
B0 · Operations Associate / Apprentice	1-3 years to B2	Not disclosed	Modeled planning interval
B1 · Trainee / Associate / Junior Technician	1-3 years to B2	Not disclosed	Modeled planning interval
B2 · Engineer I / Analyst / Field Technician	2-4 years to B3	Not disclosed	Modeled planning interval
B3 · Senior Engineer / Senior Analyst / Service Engineer	2-4 years to B4	Not disclosed	Modeled planning interval
B4 · Lead Engineer / Project Lead	2-4 years to B5	Not disclosed	Modeled planning interval
B5 · Principal Engineer / Technical Specialist	2-5 years to B6	Not disclosed	Modeled planning interval
B6 · Staff / Principal Engineer / Architect	3-6 years to B7	Not disclosed	Modeled planning interval
B7 · Associate Director / Senior Technical Manager	3-6 years to B8	Not disclosed	Modeled planning interval
B8 · Director / Functional Leader	Role vacancy and succession driven	Not disclosed	Modeled planning interval
B9 · Senior Director / General Manager	Role vacancy and succession driven	Not disclosed	Modeled planning interval
B10 · Vice President	Role vacancy and succession driven	Not disclosed	Modeled planning interval

What is publicly supported: executive compensation design is reviewed across the year, with prior-year results and award decisions in January to March, market and programme review from April to September and next-year design from October to December. Current US supervisor postings mention semi-annual and annual performance reviews, which establishes that reviews happen at role level but not that one global calendar exists. Executive annual incentives combine a corporate or segment factor with an individual factor inside a capped maximum, and performance share units run a three-year period on equally weighted earnings-per-share compound growth and relative total shareholder return.

Pay progression evidence

The promotion timings shown on the band rows are a workforce-planning model, not Carrier policy: roughly one to three years from the operations and trainee bands into B2, two to four years through B2 to B5, three to six years from B6 into associate director and director, and vacancy- and succession-driven movement above that. The bundle's matching modeled promotion increases run 8 to 20 percent early in the ladder and 12 to 25 percent at the B6 to B8 transitions, with executive-scope moves left to individual negotiation. Actual promotions depend on role availability, capability, business results, local labour rules, succession plans and market adjustments. No reliable public announcement was found specifying an average global Carrier salary increase for 2025 or 2026, a pay freeze or a common effective date.

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H-1B / LCA Visa Footprint — United States

Carrier is a light H-1B sponsor by large-cap standards. The public labour condition application file used here holds 56 records, so it describes a high-skilled US subset rather than the Carrier workforce, and every figure is base salary before bonus, equity and benefits.

Records in the dataset

Public Carrier Corporation labour condition applications. One employer can operate through related legal entities, so the file is not guaranteed to cover every Carrier affiliate.

Median base

$127,816

Against a $141,032 mean, so the distribution is skewed upward by a small number of senior headquarters roles.

Quartile spread

$101,769 to $175,822

The lower and upper quartiles. Roughly 43 percent of all records sit in the $100,000 to $150,000 band.

Certified filings, FY2025

Against 8 in FY2024 plus one withdrawn, 6 in FY2023 and 7 recorded for FY2026 as of 18 August 2026.

Dataset summary

Dataset	Result	Interpretation
H1BData Carrier Corporation labour condition applications	56 records, $127,816 median base	The source of every wage percentile on this page. Government-derived aggregator data covering certified LCAs.
MyVisaJobs Carrier employer summary	26 I-129 approvals and 0 denials across FY2023 to FY2026	11 approvals in FY2025, 8 in FY2024, 6 in FY2023 and 1 recorded so far in FY2026. Aggregator summaries should be cross-checked against USCIS and Department of Labor source data before any compliance use.
Salary distribution across the 56 records	21.43 percent below $100,000 and 10.71 percent above $200,000	42.86 percent fall between $100,000 and $150,000 and 25.00 percent between $150,000 and $200,000.

City-level H-1B wage history

City	P25	Median	P75	Records
Palm Beach Gardens, FL Headquarters roles, the highest-paying Carrier worksite in the file by a wide margin.	$192K	$204,298	$244K	9
Kennesaw, GA Engineering, controls and services; the largest single worksite sample in the file.	$119K	$125,185	$142K	8
Syracuse, NY The lowest median in the file, roughly 48 percent of the headquarters median.	$87K	$97,896	$108K	8
Charlotte, NC Commercial, digital and services roles with the second-highest worksite median.	$112K	$143,978	$164K	7
East Syracuse, NY Engineering and research roles, tightly clustered just above $100,000.	$102K	$103,396	$114K	6
Indianapolis, IN The widest quartile spread of any multi-record worksite, $97,552 to $149,729.	$98K	$104,655	$150K	6
Chicago, IL Two records clustered tightly around $161,000, well above the file median.	$159K	$160,972	$163K	2
Atlanta, GA Two records spanning $98,320 to $152,774 around a $125,547 midpoint.	$98K	$125,547	$153K	2
Collierville, TN A single specialist record at $161,866, far above the site's modeled 0.85 pay index.	$162K	$161,866	$162K	1
Fort Wayne, IN One record at $146,557.	$147K	$146,557	$147K	1
Southington, CT One record at exactly $140,000.	$140K	$140,000	$140K	1
Carrollton, TX One record at $134,992, identical to the Plano filing.	$135K	$134,992	$135K	1
Plano, TX One record at $134,992, the same wage as Carrollton.	$135K	$134,992	$135K	1
Bloomfield, CT One record at $121,451, matching the Farmington filing.	$121K	$121,451	$121K	1
Farmington, CT One record at $121,451 despite the site carrying the same 1.05 pay index as headquarters.	$121K	$121,451	$121K	1
North Potomac, MD One record at $114,026.	$114K	$114,026	$114K	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
Records below $100,000	Across all worksites in the 56-record file	21.43% of records	Concentrated in the Syracuse and East Syracuse engineering cluster, where medians sit near or below $100,000.
Records from $100,000 to $150,000	Across all worksites in the 56-record file	42.86% of records	The modal band, covering most of the Kennesaw, Charlotte, Indianapolis and Connecticut filings.
Records from $150,000 to $200,000	Across all worksites in the 56-record file	25.00% of records	Chicago, the Charlotte upper quartile and specialist single-record worksites such as Collierville.
Records above $200,000	Predominantly Palm Beach Gardens, FL	10.71% of records	Effectively the headquarters cohort, whose $204,298 median already sits above this threshold.

Reading the data correctly

A labour condition application is a wage filing, not proof of an approved visa petition or a completed hire.
LCA wages are base salary only and exclude annual bonus, stock awards and most benefits, so they understate a Carrier package at every band where equity or a meaningful incentive applies.
One employer can file through several related legal entities and name variants, so the 56-record set is not guaranteed to include every Carrier affiliate.
Percentiles for one-record and two-record cities are not statistically robust and should be read as single observations rather than city medians.
Approval summaries from aggregators should be cross-checked against United States Citizenship and Immigration Services and Department of Labor source data before any legal or compliance use.
With 56 records against roughly 47,000 employees, this file cannot be used to characterise Carrier pay generally; it describes a specialised US technical and headquarters subset.

Compare onsite vs offshore

Key Nuances & Insights

01The equity signal is a job-posting pattern, not a policy

Carrier publishes no minimum band for long-term incentives. What the research found instead is that current US director postings advertise both short- and long-term incentives while sampled associate-director postings advertise short-term incentives and often omit long-term incentives. That is evidence of a threshold forming around director, not proof of one. Practically, anyone below director should assume no equity unless it appears in the offer or award agreement.

02There is no employee stock purchase plan at all

Most large listed industrials give employees some route to buy stock at a discount. Carrier's reviewed filings disclose the 2020 Long-Term Incentive Plan, a PSU deferral plan, a French restricted-stock sub-plan and a director deferred stock unit plan, and nothing else. For the great majority of Carrier's 47,000 employees the package is cash only, which makes base salary and the short-term incentive the entire negotiation.

03The bonus factor collapsed from 143 percent to 39 percent in two years

The disclosed corporate annual-incentive factor was 143 percent for 2023, then a calculated 112 percent cut to 90 percent by committee discretion for 2024, then 39 percent for 2025. Segment factors for 2025 ranged from 30 percent in Climate Solutions Americas to 68 percent in Transportation. Anyone modelling Carrier cash compensation on a target payout is modelling the wrong number; the last three years averaged well under target.

04Committee discretion has run downward, not upward

In 2024 the committee cut a calculated 112 percent to 90 percent. In 2025 it held every named executive's individual factor at exactly 100 percent so that weak financial results flowed straight through rather than being offset. Two consecutive years of downward or neutral discretion is a governance posture worth knowing before assuming a soft landing in a bad year.

05Reported CEO pay and realised CEO pay moved in opposite directions

Gitlin's 2025 Summary Compensation Table total was $14.96 million, but his SEC compensation actually paid for the same year was negative $27.79 million, because mark-to-market revaluation of outstanding equity dominates that calculation when the share price falls. Grant-date value is an accounting figure. It is not what an executive banked.

06Full-value awards burn the reserve twice as fast

Under the amended plan, RSUs and PSUs generally count two shares against the reserve while options and stock appreciation rights count one. That is why 81.4 million shares of a 107.0 million reserve are consumed on the plan ledger without 81.4 million shares having been issued, and why splitting executive grants half into SARs is capital-efficient as well as leverage-efficient.

07The pay ratio says more about the workforce than the CEO

A 319 to 1 ratio against a $46,976 global median employee reflects a workforce that is roughly two thirds outside the United States and heavily weighted to manufacturing and field service. Trane's 402 to 1 and Johnson Controls' 338 to 1 sit in the same structural range, while Lennox at 133 to 1 has a more US-concentrated base. The ratio is a footprint statistic before it is a pay statistic.

08Geographic compression is absent from this model

In most global employers, offshore markets sit far below the anchor at junior bands and much closer at senior ones. Carrier's bundle shows no such pattern: Bengaluru is about 0.19 of Palm Beach Gardens at senior-engineer level and about 0.19 at director level, because a single city index is applied to every band. That is a modelling choice rather than an observed flat ratio, and it should be treated with suspicion at the top of the ladder.

09Headcount fell by 11,000 without an attrition story

Carrier went from about 58,000 employees at the end of 2021 to about 47,000 at the end of 2025. The Viessmann Climate Solutions acquisition, subsequent divestitures, discontinued operations and $178 million of 2025 restructuring costs changed the denominator repeatedly. Carrier reports no consolidated voluntary attrition rate, and reading the decline as turnover would be wrong.

10Viessmann brought a second pay system that has not been harmonised in public

The acquired Viessmann Climate Solutions workforce carries European pay structures, collective representation and legacy grade practices, and Allendorf indexes about 17 percent below Munich in this model. Roughly 16,500 European employees sit under works councils or unions. No completed global harmonisation map appears in the filings, so a German Carrier offer may be governed by arrangements that have nothing to do with the corporate framework.

11Statutory floors are being read as benefits

Australia's 12 percent Superannuation Guarantee, its four weeks of annual leave and ten days of personal leave, India's 12 percent EPF contribution and its 26-week maternity entitlement are all legal minimums. The research found no evidence that Carrier exceeds any of them, and no evidence that it does not. Anyone comparing a Carrier offer against a competitor should count these as zero differentiation until the offer letter says otherwise.

12The India to US gap is nominal, not real

Equivalent engineering and leadership bands show a four to six times nominal USD difference between India and the US anchor in this model. That is a currency and market-rate comparison, not a disposable-income one, and it does not account for tax, statutory benefits, housing, role scope or the fact that Carrier's India sites are engineering and shared-services centres rather than mirror-image headquarters functions.

13The one insider signal worth reading is a purchase

Three of the five Form 4 events in the window are tax withholding on RSU and PSU settlement, which carries no directional signal. The May 2026 Viessmann block sale of 12.09 million shares was a strategic-shareholder exit. The only discretionary insider decision was Gitlin buying 19,300 shares on the open market at $52.62 in November 2025, roughly $1.02 million of his own money near the low of the range.

14Nobody can tell you when Carrier gives raises

Carrier publishes an executive governance calendar — results and awards in January to March, market review April to September, design October to December — and nothing about employee merit timing. Some US postings mention semi-annual and annual reviews. There is no evidence for a universal global increase month, a rating scale, a bell curve or a merit matrix, and any source that gives you one for Carrier is inferring it.

Research control

Against its closest listed comparators, Carrier's chief executive package sits mid-pack: below Trane Technologies at $27.26 million and Johnson Controls at $19.96 million, above Lennox International at $8.43 million. The pay-ratio ordering is similar, with Carrier at 319 to 1 between Johnson Controls at 338 to 1 and Lennox at 133 to 1. Below the executive tier the peer comparison is much weaker, because none of these employers publishes a grade architecture either and the normalized ladder here maps to a conventional industrial-technology structure rather than a software level framework. B0 and B1 correspond to apprentice and graduate intake, B2 and B3 to engineer and senior engineer, B4 to B6 to lead, manager and senior manager, B7 and B8 to associate director and director, B9 and B10 to general management and vice president. The bundle's own warning applies throughout: Carrier's manufacturing and field-service population has no equivalent at a software-only employer, so technology-ladder shorthand should be used to orient a reader and never to price a role.

Evidence classification

Label	Meaning	Examples and permitted use
Disclosed	Carrier annual report, proxy statement, SEC ownership filing or official results release	Exact executive compensation, plan reserve, award counts, workforce and financial figures. Quotable as fact.
Official job signal	A current or recently indexed Carrier job posting	Role salary ranges, short- and long-term incentive wording and role-specific benefits. Evidence of a pattern, never of a policy.
Benchmark	Glassdoor, Levels.fyi, PayScale, Indeed, Comparably or H-1B aggregation	External triangulation only. Sample quality varies sharply and the sources are not internally consistent with each other.
Statutory floor	A government employment, pension or social-security rule	The minimum legal entitlement. It is not evidence that Carrier provides anything above the law.
Modeled	A normalized band, city index or calculated all-in figure	Comparative planning only. Not a Carrier promise, not an internal grade and not an offer.
Not publicly disclosed	No reliable public source was found	Stated as a gap. The report does not guess unless the field is explicitly labelled modeled.

Explicit “Not publicly disclosed” index

Official global grades, bands or a band-to-title map.

City-level headcount anywhere in the footprint.

A consolidated voluntary attrition rate.

Employee merit increase percentages by rating, and the rating scale itself.

Employee-wide variable payout history for any of the last three years.

A formal minimum band for long-term incentive eligibility.

Any broad-based employee stock purchase or stock ownership plan.

India health insurer, family-floater sum insured and the leave-day matrix.

Exact pension contribution percentages for UK and European entities.

The universal appraisal month and any global effective date for increases.

A global relocation schedule by band, and a uniform sabbatical or hybrid-work standard.

Any measured lateral-hire premium or internal-promotion pay gap.

Known gaps and diligence before relying on a cell

1The B11 enterprise-executive and B12 chief-executive tiers are deliberately excluded from the band table. The bundle states plainly that they are global proxy references and are not location-scaled, and applying a 0.19 Bengaluru factor to a single worldwide chief-executive figure would produce a meaningless cell. Their disclosed figures are carried in full in the executive section instead, and the employee ladder tops out at B10.
2Because the executive tiers are excluded, no top-of-ladder location factors are set anywhere in the report. The bundle's city index is flat across every band by construction, so interpolating would have invented a compression pattern that the sources do not show. Treat offshore senior-band cells as the weakest figures on the page.
3The bundle's published all-in figures added a modeled employer benefit load of 12 to 20 percent by country. That is employer cost, not employee pay, and it has been stripped here, so every band total is exactly base plus target variable plus modeled annualized equity and will sit below the bundle's own all-in column.
4The report's band table and its equity-eligibility table disagree slightly on modeled grant values: the band table shows $26,200, $78,800, $157,500 and $525,000 at B7 to B10 while the equity table shows $25,000, $75,000, $150,000 and $500,000. The band-table figures are used here because they are the ones that reconcile with the published all-in totals. Both are modeled, so neither is a Carrier figure.
5Every band figure below B11 is modeled from job postings and aggregators that are not internally consistent with each other. Glassdoor, Levels.fyi, PayScale, Indeed and Comparably report materially different medians for the same Carrier roles, which is why the bundle publishes ranges and why single-point band medians should be treated as the midpoint of a wide envelope.
6Carrier has no broad-based employee equity plan, so the equity column is zero for B0 through B6 by evidence rather than by omission. A zero there means no routine grant was publicly evidenced, not that a grant is impossible.
7Location coverage here is 34 markets drawn from the bundle's 81-location registry, chosen to span the full index range from Palm Beach Gardens at 1.00 to Bengaluru and Hyderabad at 0.19 to 0.17. The omitted entries are additional cities in countries already represented, plus smaller markets in Colombia, Chile, Argentina, Vietnam, Indonesia, Thailand, Taiwan, Korea, Malaysia, Qatar, Finland, Belgium, Ireland and New Zealand.
8The H-1B file is 56 records against roughly 47,000 employees. Several worksite rows rest on a single filing, and the whole dataset describes a specialised US technical and headquarters subset rather than Carrier pay in general.
9Carrier does not disclose a geographic revenue split in the material reviewed for this bundle, so no regional revenue panel is shown. Regional workforce mix is disclosed and is used instead.

FX rates used — 1 USD equals, snapshot 2026-08-25

0.8566885492

EUR

0.7331976443

GBP

95.2490307081

INR

1.3968790907

AUD

1.3835692663

CAD

1.2694922157

SGD

159.222777647

JPY

6.7214581635

CNY

3.6725

AED

16.9389601174

MXN

9.4695083983

SEK

5.1458752347

BRL

3.75

SAR

3.6855542767

PLN

20.6320181187

CZK

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 — 17 sources

10-K	Carrier 2025 Form 10-K · Carrier Global Corporation via SEC EDGAR · 2025-12-31. Revenue, workforce, savings-plan contributions, equity award activity, restructuring costs and the June 2025 Viessmann share repurchase.
PROXY26	Carrier 2026 Proxy Statement · Carrier Global Corporation via SEC EDGAR · 2026-03-03. 2025 executive pay, annual incentive factors, long-term incentive awards, board compensation and the CEO pay ratio.
PROXY25	Carrier 2025 Proxy Statement · Carrier Global Corporation via SEC EDGAR · 2025-02-25. The 2020 LTIP amendment proposal, share reserve and plan terms.
8-K	Carrier 2025 Annual Meeting Form 8-K · Carrier Global Corporation via SEC EDGAR · 2025-04-09. Shareholder approval of the 17 million-share LTIP amendment.
CAREERS	Carrier careers and benefits pages · Carrier Global Corporation · 2026-08-26. Retirement, medical, dental and vision, tax-advantaged accounts, life and disability cover and vacation purchase.
JOBS	Carrier jobs portal · Carrier Global Corporation · 2026-08-26. Current salary ranges, short- and long-term incentive wording and role-specific benefits across the US, UK, Europe and Australia.
Q2-26	Carrier second-quarter 2026 results release · Carrier Global Corporation · 2026-07-28. Current operating performance, $6.4 billion of sales and $825 million of GAAP operating profit.
GD	Glassdoor Carrier salaries · Glassdoor · 2026-08-26. Role salary ranges, self-reported and estimated; mechanical engineer around $85,000 to $116,000 and software engineer around $91,000 to $127,000.
LFYI	Levels.fyi Carrier salaries · Levels.fyi · 2026-08-26. Role total-compensation medians for selected technical samples; sample sizes vary.
PS	PayScale Carrier Corporation salaries · PayScale · 2026-08-26. US salary average and role ranges used in band triangulation.
CMP	Comparably Carrier salaries · Comparably · 2026-08-26. Estimated department and overall compensation, used only as a directional cross-check.
H1B	H1BData Carrier Corporation records · H1BData, from Department of Labor filings · 2026-08-18. The 56-record labour condition application wage file behind every H-1B percentile on this page.
MVJ	MyVisaJobs Carrier employer summary · MyVisaJobs, from Department of Labor and USCIS data · 2026-08-18. Labour condition application counts and I-129 approval history for fiscal years 2023 to 2026.
XE	XE historical USD currency table · XE · 2026-08-25. The single FX snapshot behind every local-currency figure in the location table.
ATO	Superannuation Guarantee rates and thresholds · Australian Taxation Office · 2025-07-01. The 12 percent Australian statutory superannuation floor.
FWO	Leave entitlements · Fair Work Ombudsman, Australia · 2026-08-26. Australian statutory annual, personal and parental leave floors.
EPFO	EPF contribution framework · Employees' Provident Fund Organisation, India · 2026-08-26. The Indian statutory provident fund contribution framework.

Negotiate your offer

Recent News & Workforce Trend

The events that bear on Carrier pay in this window are a collapsing bonus factor, a larger equity reserve, a shrinking and restructuring workforce, and a strategic shareholder selling down. None of them is a compensation announcement in the conventional sense, because Carrier makes none.

~58,000

2021 employees

Pre-portfolio-transformation baseline.

~52,000

2022 employees

Public Form 10-K figure.

~53,000

2023 employees

Includes the pre-close footprint before full Viessmann integration effects.

~48,000

2024 employees

Portfolio actions make any direct attrition inference unsafe.

~47,000

2025 employees

34 percent Americas, 36 percent Europe and 30 percent Asia Pacific, Middle East and Africa, across more than 52 countries.

Carrier does not report a consolidated voluntary attrition rate, and the roughly 11,000-person decline since 2021 coincided with the Viessmann Climate Solutions acquisition, multiple divestitures, discontinued operations and $178 million of 2025 restructuring costs including $92 million in Climate Solutions Europe. Labelling that change as turnover would be methodologically wrong. City-level headcount is not published at all, so no location on this page should be read as a staffing concentration.

28 Jul 2026

Second-quarter 2026 sales of $6.4 billion with operating profit down 9 percent

Sales rose 4 percent reported and 3 percent organic while GAAP operating profit fell 9 percent to $825 million. The compensation link is indirect but real: business performance drives the corporate and segment factors that set the annual incentive.

Carrier second-quarter 2026 results release

20 May 2026

Viessmann affiliate sells $750 million of Carrier stock

Viessmann Traeger HoldCo sold 12,094,823 shares at $62.01 in a Rule 144 block, filed on Schedule 13D with a Form 144 and Form 4. A strategic-shareholder exit rather than any employee equity event, following Carrier's own June 2025 repurchase of 4,267,425 shares from Viessmann at $70.30 for $300 million.

SEC Schedule 13D, Form 144 and Form 4

3 Mar 2026

2025 executive bonus factor disclosed at 39 percent

The 2026 proxy disclosed a 39 percent corporate performance factor for the 2025 year against 90 percent for 2024 and 143 percent for 2023, with individual factors held at 100 percent for the named executives. Segment factors ran from 30 percent in Climate Solutions Americas to 68 percent in Transportation.

Carrier 2026 proxy statement

3 Mar 2026

CEO reported pay of $14.96 million against negative $27.79 million actually paid

David Gitlin's Summary Compensation Table total was $14,962,913 while the SEC compensation actually paid figure for the same year was negative $27.79 million, a gap driven entirely by mark-to-market revaluation of outstanding equity. The disclosed pay ratio was 319 to 1 against a $46,976 median employee.

Carrier 2026 proxy statement

1 Feb 2026

CEO performance share units settle with shares withheld for tax

35,797 shares were withheld at $59.58 on the settlement of Gitlin's performance share units, about $2.13 million. Coded as a disposition on Form 4 but not a discretionary sale.

SEC Form 4

31 Dec 2025

Workforce closes the year at approximately 47,000 across 52 countries

The regional mix was roughly 34 percent Americas, 36 percent Europe and 30 percent Asia Pacific, Middle East and Africa, with about 16,500 European employees represented by works councils, unions or similar bodies. Neither city-level headcount nor attrition was disclosed.

Carrier 2025 Form 10-K

31 Dec 2025

LTIP reserve down to 25.6 million shares with $101 million of unrecognised cost

25.6 million shares remained available of the 107.0 million authorised, implying 81.4 million consumed on the plan ledger. 2025 stock-based compensation cost was $72 million with $101 million unrecognised over a weighted-average two years. Grants in the year were 2.072 million SARs and options at a $64.99 weighted-average exercise price, 836,000 PSUs at $57.22 and 330,000 RSUs at $63.70.

Carrier 2025 Form 10-K

25 Nov 2025

CEO buys 19,300 shares on the open market

David Gitlin acquired 19,300 shares at $52.62, about $1.02 million, the only discretionary insider purchase in the window and the lowest reference price in the Form 4 set.

SEC Form 4

31 Dec 2025

Restructuring costs reach $178 million, $92 million of it in Climate Solutions Europe

Filings state that restructuring actions may include productivity measures, workforce reductions and facility consolidation. This is the clearest disclosed pressure on the European population that Viessmann brought into the group.

Carrier 2025 Form 10-K

30 Jun 2025

Carrier repurchases $300 million of stock directly from Viessmann

4,267,425 shares were repurchased at $70.30 per share, an early step in reducing the strategic-shareholder position that was largely sold down in the May 2026 block trade.

Carrier 2025 Form 10-K

9 Apr 2025

Shareholders approve 17 million additional LTIP shares

The amendment raised the 2020 Long-Term Incentive Plan's maximum authorised reserve from 90.0 million to 107.0 million shares, subject to the plan's weighted share-counting rules under which full-value awards consume two shares to an option's one.

Carrier 2025 Annual Meeting Form 8-K

6 Feb 2025

CEO annual equity award of 88,150 target PSUs and 321,970 SARs

Grant-date fair value was $5.635 million for the PSUs, which carry a 176,300-share maximum, and $5.747 million for the SARs at a $65.21 base price, against an $11.900 million total target long-term incentive value.

Carrier 2026 proxy statement

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