Thursday, April 23, 2009

CEO Compensation Falls for Second Year in a Row

After a 15% collective pay cut in 2007, chief executives of the 500 biggest companies in the U.S. (as measured by a composite ranking of sales, profits, assets and market value) took another reduction in total compensation, 11%, for 2008. The last time the big bosses took a pay hit for two consecutive years was in 2001 and 2002.

In total, these 500 executives earned $5.7 billion in 2008, which averages out to $11.4 million apiece and computes to less than 1% of total revenues and 3% of total profits of their companies.

~FORBES

1 Comments:

At 4/23/2009 10:30 AM, Blogger ExtremeHobo said...

So it appears that CEOs actually ARE (on average) held accountable for their actions.

 

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