Facebook Inc. employees earned a median pay package of more than $240,000 last year while Chief Executive Mark Zuckerberg’s total compensation was more than $8.8 million, according to the social-media company’s 2017 proxy.

Mr. Zuckerberg’s compensation of $8,852,366 was about 37 times higher than the median Facebook employee, according to the annual proxy filed late Friday. The company disclosed the pay ratio as part of a broader requirement of the postcrisis Dodd-Frank law that went into effect this year.

As...