Heading a division of how many and in what industry? As you can probably tell from some of the other comments, not everyone works in the finance or legal industries so salaries like that seem a bit excessive. But in the financial world $150k, while enough to get by, isn't necessarily the highest paid guy in the office, not by a long shot. Some of the folks we know get that in housing and school allowances, let alone their salary which comes on top of that.
If you are asking if you can survive, of course. It's plenty. You can live in a modern place which will be of a decent enough size and age. You'll eat imported food from overpriced grocery stores and be able to dine out with a bit of flair. You may put some money away as well, and be able to travel.
Will you be the highest paid in your industry at that rate? No, not at all. If keeping up with the Jones' is a big deal to you you might find yourself a tad upset when you see some of the wealth of others. It will be a good base though if bonuses are likely.