🛳️ Inequality on the High Seas
Cruise line CEOs earn $10-20 million per year, while they add and disguise passenger fees
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The cruise lines play marketing games that you need to be aware of.
They make it hard to compare pricing. When shopping for your cruise - and the month before you sail after you’ve bought one, you’ll be inundated with lots of perks - free or discounted upgrade, drinks, excursions, onboard credit (OBC), and more.
They bill passengers for crew member compensation and services the lines should be paying
Some nickel and dime you for access that used to be free, such as charging for room service, a second entree, and some entertainment and rides.
Meanwhile they’re paying huge bucks to their CEOs. Mainstream cruise line CEOs receive $10-20 million in annual compensation. It’s not a good look when they’re extremely generous to their executives while stiffing customers. Here are the details.
Royal Caribbean Group (RCL): CEO Jason Liberty’s compensation was $10.7
million in 2022, $17.2 million in 2023, and $19.5 million in 2024.
Norwegian Cruise Line Holdings (NCLH): Incoming CEO John Chidsey has a $1.7 million annual base salary, plus a $2.9 million bonus for 2026 and equity awards totaling $48 million over four years. Outgoing CEO Frank Del Rio made $8.7 million in 2022.
Carnival Corporation (CCL): Past CEO compensation packages were typically valued over $13 million.