Woolworths CEO salary: what Amanda Bardwell takes home after tax and Medicare
Woolworths CEO Amanda Bardwell's total target remuneration for FY27 is $6.645 million, but actual take-home depends on performance and tax; her base fixed remuneration is $2.215 million.
What the woolworths ceo salary actually is
When you search for "woolworths ceo salary", the headline figure is often the total target remuneration. For Amanda Bardwell, the CEO since September 2024, the FY27 target is $6.645 million – but that's not what lands in her bank account. The structure is:
- Fixed remuneration: $2.215 million (salary and benefits, including super)
- Short-term incentive (STI): target $2.215 million (half cash, half deferred equity)
- Long-term incentive (LTI): target $2.215 million (performance rights)
Only the fixed part is guaranteed. The STI and LTI are at risk. In FY26, her actual total remuneration was $3.87 million according to the company's voting report .
How tax and Medicare change the fortnight
Using the 2026–27 resident tax rates from the Australian Taxation Office, here's what happens to the base fixed remuneration of $2.215 million:
| Component | Amount |
|---|---|
| Annual salary | $2,215,000 |
| Tax on first $190,000 | $51,370 |
| Tax on remaining $2,025,000 at 45c | $911,250 |
| Total income tax | $962,620 |
| Medicare levy (2%) | $44,300 |
| Total tax and Medicare | $1,006,920 |
| Annual take-home | $1,208,080 |
| Fortnightly take-home | $46,464 |
This is a simplified estimate. It excludes the Low Income Tax Offset (not applicable at this income), HELP/HECS repayments, and the Medicare levy surcharge (the CEO would have private hospital cover). The actual fortnightly amount will change if STI or LTI payments are received in that period.
The role of super
For most employees, super is quoted on top of salary and deducted from your pay. But for the Woolworths CEO, the fixed remuneration of $2.215 million already includes the super guarantee. The Super rate is 12% from 1 July 2026, but it's bundled into the package. That means the full $2.215 million is subject to PAYG withholding and Medicare levy – super does not reduce the cash take-home.
Why the fortnightly amount varies
Three factors change what reaches the bank account each fortnight:
Tax brackets: The CEO is in the top marginal rate (45c per dollar over $190,000), so any additional income from STI or LTI is taxed at that rate. The tax withheld per pay period adjusts if bonuses are paid in that cycle.
Medicare levy: At 2% on all taxable income above $35,013, the levy adds a flat $44,300 per year on the base salary. If STI is paid in cash, the levy increases proportionally.
Super: Since super is included in fixed remuneration, there is no separate deduction. But if the CEO salary sacrifice additional super, that would reduce taxable income and take-home pay.
Comparing to benchmarks
The national minimum wage is $26.44 per hour and $1,004.90 per week Minimum wage. The CEO's base salary is about 42 times the minimum wage annualised ($52,255). The average full-time ordinary time earnings are $108,352 per year Average pay. The CEO's base is about 20 times that average.
The bigger picture on CEO pay
Economists have noted that market power allows CEOs to raise their own salaries. A 2022 study found 57.8% of CEO pay growth was attributable to market power, as reported by . Woolworths' former CEO Brad Banducci earned $8.6 million in FY23. The current structure aims to align pay with performance: the LTI vests only if relative TSR and ROFE targets are met over three years.
What this means for your take-home
If you're comparing your own salary to the CEO's, remember that the tax system is progressive. The first $18,200 is tax-free, and the next $26,800 is taxed at 19c per dollar. The CEO pays 45c on every dollar above $190,000. Use the Take-home pay calculator to estimate your own fortnightly amount.
Questions
How much does the Woolworths CEO actually take home after tax?
If you take the base fixed remuneration of $2.215 million, the estimated annual take-home after income tax and the 2% Medicare levy is about $1.16 million, or roughly $44,600 per fortnight. That's before any short-term or long-term incentive payments. The actual amount varies each year because the STI and LTI are at risk and taxed when they vest.
Does the Woolworths CEO pay the Medicare levy?
Yes. The Medicare levy applies at 2% of taxable income for anyone earning above the single upper threshold of $35,013. With a salary of $2.215 million, the full 2% applies, adding about $44,300 to the tax bill. There is no Medicare levy surcharge because the CEO would have private hospital cover, but the standard levy is unavoidable.
Is superannuation included in the Woolworths CEO salary?
The fixed remuneration of $2.215 million includes salary and benefits, and the super guarantee is part of that total. Unlike a typical employee where super is quoted on top of salary, executive packages often bundle super into the fixed amount. So the take-home pay is calculated on the full $2.215 million, and super does not reduce the fortnightly cash amount.