Royal Caribbean Cruises Ltd.'s CEO Salary

Royal Caribbean Cruises Ltd.'s CEO salary and other executives compensation in 2025 was as follows:

Jason T. Liberty President and Chief Executive Officer at Royal Caribbean Cruises Ltd., received a total compensation of $23.98 M in 2025.
Michael W. Bayley President and CEO, Royal Caribbean at Royal Caribbean Cruises Ltd., received a total compensation of $9.43 M in 2025.
Laura Hodges Bethge President, Celebrity Cruises at Royal Caribbean Cruises Ltd., received a total compensation of $5.95 M in 2025.
Harri U. Kulovaara EVP, Maritime at Royal Caribbean Cruises Ltd., received a total compensation of $4.91 M in 2025.

CEO/ Executive salary tells one part of the story. Explore Employee Count Trend, Revenue per Employee, and Profit per Employee to understand workforce scale, and employee productivity.

Jason T. Liberty President and Chief Executive Officer

Per Year
Per Month
Per Week
Per Day

Jason T. Liberty President and Chief Executive Officer, at Royal Caribbean Cruises Ltd., received $1.40 M in base salary, $15.80 M in stock award, and $1.65 M in other compensation, making $23.98 M in total compensation in 2025.

The total compensation was +22.98% up from the previous year, 2024.

Michael W. Bayley President and CEO, Royal Caribbean

Per Year
Per Month
Per Week
Per Day

Michael W. Bayley President and CEO, Royal Caribbean, at Royal Caribbean Cruises Ltd., received $1.15 M in base salary, $5.50 M in stock award, and $407.58 K in other compensation, making $9.43 M in total compensation in 2025.

The total compensation was +4.71% up from the previous year, 2024.

Laura Hodges Bethge President, Celebrity Cruises

Per Year
Per Month
Per Week
Per Day

Laura Hodges Bethge President, Celebrity Cruises, at Royal Caribbean Cruises Ltd., received $893.46 K in base salary, $3.20 M in stock award, and $142.99 K in other compensation, making $5.95 M in total compensation in 2025.

The total compensation was +37.17% up from the previous year, 2024.

Harri U. Kulovaara EVP, Maritime

Per Year
Per Month
Per Week
Per Day

Harri U. Kulovaara EVP, Maritime, at Royal Caribbean Cruises Ltd., received $932.85 K in base salary, $1.85 M in stock award, and $142.92 K in other compensation, making $4.91 M in total compensation in 2025.

The total compensation was +3.37% up from the previous year, 2024.

Executive	2025	2024	2023
Jason T. Liberty President and Chief Executive Officer	$23.98 M	••••••••	••••••••
Base Salary	$1.40 M	••••••••	••••••••
Incentive Plan Compensation	$5.13 M	••••••••	••••••••
All Other Compensation	$1.65 M	••••••••	••••••••
Stock Award	$15.80 M	••••••••	••••••••
Michael W. Bayley President and CEO, Royal Caribbean	$9.43 M	••••••••	••••••••
Base Salary	$1.15 M	••••••••	••••••••
Incentive Plan Compensation	$2.37 M	••••••••	••••••••
All Other Compensation	$407.58 K	••••••••	••••••••
Stock Award	$5.50 M	••••••••	••••••••
Laura Hodges Bethge President, Celebrity Cruises	$5.95 M	••••••••	••••••••
Base Salary	$893.46 K	••••••••	••••••••
Incentive Plan Compensation	$1.72 M	••••••••	••••••••
All Other Compensation	$142.99 K	••••••••	••••••••
Stock Award	$3.20 M	••••••••	••••••••
Harri U. Kulovaara EVP, Maritime	$4.91 M	••••••••	••••••••
Base Salary	$932.85 K	••••••••	••••••••
Incentive Plan Compensation	$1.98 M	••••••••	••••••••
All Other Compensation	$142.92 K	••••••••	••••••••
Stock Award	$1.85 M	••••••••	••••••••
Naftali Holtz Chief Financial Officer	-	••••••••	••••••••
Base Salary	-	••••••••	••••••••
Incentive Plan Compensation	-	••••••••	••••••••
All Other Compensation	-	••••••••	••••••••
Stock Award	-	••••••••	••••••••
Jason T. Liberty President & Chief Executive Officer and Former Chief Financial Officer	-	••••••••	••••••••
Base Salary	-	••••••••	••••••••
Incentive Plan Compensation	-	••••••••	••••••••
All Other Compensation	-	••••••••	••••••••
Stock Award	-	••••••••	••••••••
Michael W. Bayley President and CEO, RCI	-	••••••••	••••••••
Base Salary	-	••••••••	••••••••
Incentive Plan Compensation	-	••••••••	••••••••
All Other Compensation	-	••••••••	••••••••
Stock Award	-	••••••••	••••••••
Lisa Lutoff-Perlo Former President and CEO, Celebrity Cruises	-	••••••••	••••••••
Base Salary	-	••••••••	••••••••
Incentive Plan Compensation	-	••••••••	••••••••
All Other Compensation	-	••••••••	••••••••
Stock Award	-	••••••••	••••••••

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Royal Caribbean Cruises Ltd.'s CEO Salary

Jason T. Liberty President and Chief Executive Officer

Michael W. Bayley President and CEO, Royal Caribbean

Laura Hodges Bethge President, Celebrity Cruises

Harri U. Kulovaara EVP, Maritime

Executive Compensation Summary Table

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