CEO Pay Rose at Twice the Rate of Workers
Experts suggest there's no better time to be a top-level corporate executive as the median income of CEOs of S&P 500 companies reached $10.1 million at the end of 2013.
Photo by docoverachiever (CC BY 2.0)
Photo by docoverachiever (CC BY 2.0)
Experts suggest there’s no better time to be a top-level corporate executive as the median income of CEOs of S&P 500 companies reached $10.1 million at the end of 2013.
The amount reflects a 9.5 percent increase year after year and an enormous 43 percent jump from 2009. On the other hand, hourly wages of nonfarm workers rose 23.6 percent in the same period.
The Guardian reports:
It doesn’t stop there. The median salary for the chief executives of S&P 1500 companies (representing 90% of US market cap) rose a healthy 8.5% year on year to $5.0m.
[…] The good times extend not just to CEOs, but across the entire upper echelons of corporate powerhouses, say hiring experts. That became evident this week when hackers released salary data from Sony showing that 17 of the company’s executives make more than $1m a year each.
Across industries, businesses are boosting pay for executives in the belief it will draw the best people to their teams. Perks abound.
Read more here.
— Posted by Alexander Reed Kelly.
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Bonuses on Wall Street jumped 15 percent in 2013, while record numbers of New Yorkers poured into homeless shelters.
Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen Paul Wellstone, but he was also the chief operating officer of a Citigroup unit and doesn't fault deregulation for the shoddy economy (more)Jack Lew is a liberal who worked for Speaker Tip O'Neill and studied under beloved progressive Sen.
The United Auto Workers and GM announced late Friday that after more than seven weeks of negotiations the two had agreed on a four-year contract that included new jobs, improved profit-sharing and better health care benefits.
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Big banking execs on Wall Street might have noticed a slight pinch in their cash bonuses last year, but that doesn't mean those clever business minds didn't find a way to make up for it through other financial channels.
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