Mercer Human Resources Consulting publishes a study of CEO salaries every so often. Here are some of their findings for 2004:
The median salary for an American CEO is far above that of the median salary for CEOs in just about every other country. Here it’s $2.3 million a year. In England it’s a million less. In Sweden it’s only $386,000. In Asia it’s even worse: Japan $318,000, India $88,000. It would be interesting to know what a Chinese CEO earns.
The median salary and bonus for CEO’s rose 14.5% last year, while salaried employees saw a 3.4% increase.
The low raise for salaried employees was still greater than that for non-managerial workers, who account for 80% of the workforce; they saw an increase of only 2.7%. If you factor inflation in, their raise goes to zero.
We need board members who can make rational decisions relative to compensation and stockholders who will hold board members accountable.
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