It Pays (A Lot) To Be A CEO
Half Of America's Top Executives Make More Than $8.3M A Year
AP) A new Associated Press calculation shows that compensation for America's top CEOs has skyrocketed into the stratospheric heights of pro athletes and movie stars: Half make more than $8.3 million a year, and some make much, much more.
CEOs of companies in the Standard & Poor's 500 that filed proxy information in the first half of this year received a combined $4.16 billion in 2006, according to AP's formula.
The high cost of chief executive pay has drawn criticism in recent years as salaries rose, stock options paid off like lottery jackpots, and perks like chauffeured cars and private jets spread. Still, there are few signs of any investor backlash.