Econ-Atrocity: CEO Pay Still Outrageous
Wednesday, May 21, 2003Categories: News, Inequality, Econ-Atrocity
By Holly Sklar
You know CEO pay is still out of control when Fortune magazine puts a smiling pig in a suit on the cover and headlines its pay roundup, “Have they no shame? Their performance stank last year, yet most CEOs got paid more than ever.”
Fortune, remember, is a leading business magazine, not a union publication.
Median CEO pay at the 100 large companies in Fortune’s survey rose 14 percent last year to $13.2 million. Half earn more than the median, half earn less. Median CEO pay at the 365 large companies measured by BusinessWeek rose 6 percent to $3.7 million, including salary, bonus and long-term compensation such as exercised stock options.
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