They were stagnant for two years? That’s news to me. (Perhaps that’s everyone besides the financial geniuses who crashed the economy.) The poor dears.Chief executive pay has roared back after two years of stagnation and decline. America's top bosses enjoyed pay hikes of between 27 and 40% last year, according to the largest survey of US CEO pay. The dramatic bounceback comes as the latest government figures show wages for the majority of Americans are failing to keep up with inflation.
UK Guardian
Perhaps to you, Mr. Hodgson.America's highest paid executive took home more than $145.2m, and as stock prices recovered across the board, the median value of bosses' profits on stock options rose 70% in 2010, from $950,400 to $1.3m.
[...]
As stock prices began to recover last year, the increase in CEO pay outstripped the rise in share value. The Russell 3000 measure of US stock prices was up by 16.93% in 2010, but CEO pay went up by 27.19% overall. For S&P 500 CEOs, the largest companies in the sample, total realised compensation – including perks and pensions and stock awards – increased by a median of 36.47%. Total pay at midcap companies, which are slightly smaller than the top firms, rose 40.2%.
[...]
And there will be more to come. GMI, formerly known as the Corporate Library, is expecting a rash of massive stock option bonuses as many firms awarded their top executives big option deals when the stock markets hit their lows in 2007-2008.
[...]
"Wages for everybody else have either been in decline or stagnated in this period, and that's for those who are in work," said [GMI senior research analyst Paul] Hodgson. "I had a feeling that we would see some significant increases this year. But 30-40% was something of a surprise.
Some people weren't a bit surprised.
No comments:
Post a Comment