Sunday, March 20, 2011

CEO Pay Up, Average Worker Not so Much (Time)

Executives in the corner office now make 62 times more than the average worker, and that's just in bonuses alone.

A study done for the Wall Street Journal, found that incentive pay for the chief executive officers of 50 major corporations jumped 30% in 2010. That's on top of their base pay. And it also doesn't include a whole bunch of other things, like generous retirement packages, gold-plated healthcare plans and use of the corporate jets. Remember how the financial crisis was supposed to wipe away the bonus culture of pay for short-term performance in corporate America? Yes. Well, not so much. ...

Some of lucky (they would say deserving) recipients included Walt Disney's CEO Robert Iger, who received a $13.5 million bonus. That was an increase of 45.5% from a year ago.
I get it. CEOs have a lot of responsibilities. Their jobs are hard. But do they deserve to make 62 times more than the rest of us? That means if you're getting paid a "generous" $600/week, a CEO is making - in that same week - more than you do the whole year. No joke. Do they deserve $37,2000/week? Say it with me, folks... Not so much.

Read the full article here.

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