Salary ceiling in traditional corporate settings in PH

I recently got into a personal conversation with someone I closely work with. He mentioned that he was already earning 1-1.1m (excluding bonuses and stocks) monthly in his previous job (what more in our current company lol).

This is my first time working directly and closely with someone earning that high in a traditional corporate setting. By traditional I mean a regular employee in a company registered (not necessarily headquartered) in the Philippines (local or multinational). It got me curious though about what the salary ceilings are for executives in traditional corporate settings here in the Philippines.

Based on your experience/research/etc.,

• How much do executives in the PH earn? I'm talking about VP's and above level.
• Which industries are known to pay more to employees at levels mentioned above?
• Is it true that multinational companies really pay more vs. local?