Salary in state-owned companies reaches R$ 116.8 thousand (benefits excluded); see ranking

Executives at Petrobras and some of its subsidiaries receive the highest salaries among federal public companies, according to data from the Ministry of Economy.

The oil company, whose command has already been changed twice this year by President Jair Bolsonaro (PL), pays BRL 116,800 a month as fixed remuneration to the president of the state-owned company, in addition to 13th and additional vacation pay.

The value does not consider variable compensation, a kind of bonus paid according to the company’s results. The value for the year 2021 was R$ 1.6 million.

The executive also receives housing allowance of R$ 1,800.00, an amount of R$ 4,333.34 for airline tickets, R$ 7,489.39 for a health plan and R$ 15,300 as a contribution to a supplementary pension plan.

The salary of president of Petrobras is the highest in the ranking. In second place is Transpetro, which pays R$ 101.1 thousand to its president. The company is the Petrobras subsidiary responsible for the storage and transport of oil and derivatives.

In third place is the BNDES (National Bank for Social and Economic Development), entirely controlled by the Union and which acts as an institution to promote medium and long-term investments. The basic remuneration of the bank’s president is R$ 80,800, excluding benefits.

Other Petrobras subsidiaries, Petrobras Biocombustíveis and TBG (Transportadora Brasileira Gasoduto Bolivia-Brasil), pay R$80,500 as a basic salary to their respective presidents, while Petrobras Logística de Exploração e Produção provides a fixed remuneration of R$69. .9 thousand.

PPSA (Pré-Sal Petróleo SA), the state-owned company responsible for representing the Union in the pre-salt sharing contracts, pays its president R$73,000 per month.

The largest commercial banks with federal state participation, Banco do Brasil and Caixa Econômica Federal are also among the top positions in the ranking.

The salary of the president of BB, without benefits or bonuses, is R$ 68,800 per month. In Caixa, this amount is R$ 56.2 thousand.

As they are independent state-owned companies (that is, they pay their expenses with their own income), these companies can pay remunerations above the civil service ceiling, currently at R$ 39,300.

On the other hand, dependent companies, such as Telebras and Codevasf (Companhia de Desenvolvimento dos Vales do São Francisco and Parnaíba), must respect this limit when establishing salaries for their administrators.

In the case of Telebras, the amount paid to the president is R$38,700 per month. At Codevasf, a state-owned company that is a stronghold of the center — a group of parties that support Bolsonaro politically —, the maximum remuneration is R$33,000 per month.