CEO's Pay On The Increase
- Thread starter StevieD
- Start date
- Sep 27, 2005
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Europe CEO's vs. America's
Europe CEO's vs. America's
The most interesting finding is not the growth in the gap?it has been widening for so long that it barely makes the news anymore?but the comparison between CEO pay in Europe and the U.S. In 2006, the 20 highest-paid European corporate managers made only one third as much as the 20 highest-earning U.S. executives, even though they led companies that generated $19 billion more in sales revenue.
Defenders of skyrocketing CEO pay often claim that the compensation is justified because of the value a top CEO can bring to a company. But the Executive Excess report provides evidence, as if any was needed, that CEOs of U.S. corporations are paid well beyond their value to the companies they run.
Additional findings:
* CEOs of large U.S. companies last year made as much money from just one day on the job as average workers made over the entire year. These top executives averaged $10.8 million in total compensation, over 364 times the pay of the average American worker.
* Workers at the bottom rung of the U.S. economy have just received the first federal minimum wage increase in a decade. But the new minimum wage still stands 7 percent below where the minimum wage stood a decade ago in real terms. CEO pay, over that same decade, has increased by roughly 45 percent.
* CEOs at major U.S. corporations enjoyed, on average, $1.3 million in pension gains last year. By contrast, only 58.5 percent of American households led by a 45-to-54-year-old even had a retirement account in 2004.
* The top 386 CEOs took in perks worth an average of $438,342 in 2006. A minimum wage worker would need to work 36 years to earn as much as CEOs obtained just in perks last year.
http://www.ablogistan.com/archives/2007/09/executive_exces.html
Europe CEO's vs. America's
The most interesting finding is not the growth in the gap?it has been widening for so long that it barely makes the news anymore?but the comparison between CEO pay in Europe and the U.S. In 2006, the 20 highest-paid European corporate managers made only one third as much as the 20 highest-earning U.S. executives, even though they led companies that generated $19 billion more in sales revenue.
Defenders of skyrocketing CEO pay often claim that the compensation is justified because of the value a top CEO can bring to a company. But the Executive Excess report provides evidence, as if any was needed, that CEOs of U.S. corporations are paid well beyond their value to the companies they run.
Additional findings:
* CEOs of large U.S. companies last year made as much money from just one day on the job as average workers made over the entire year. These top executives averaged $10.8 million in total compensation, over 364 times the pay of the average American worker.
* Workers at the bottom rung of the U.S. economy have just received the first federal minimum wage increase in a decade. But the new minimum wage still stands 7 percent below where the minimum wage stood a decade ago in real terms. CEO pay, over that same decade, has increased by roughly 45 percent.
* CEOs at major U.S. corporations enjoyed, on average, $1.3 million in pension gains last year. By contrast, only 58.5 percent of American households led by a 45-to-54-year-old even had a retirement account in 2004.
* The top 386 CEOs took in perks worth an average of $438,342 in 2006. A minimum wage worker would need to work 36 years to earn as much as CEOs obtained just in perks last year.
http://www.ablogistan.com/archives/2007/09/executive_exces.html
