The current economic times are hard on everyone, right? Not quite, according to USA Today: s
Bubble hasn't burst yet on CEO salaries despite the time
The glory days are long gone for most stockholders, but the good times still roll for many CEOs.
Corporate America has been tarnished by high-profile scandals, fraud and executive chicanery. The sputtering economy and sagging corporate profits pounded stocks for a third-consecutive year. But when it came to pain and suffering — at least pay-wise — most CEOs barely felt the downdraft last year.
CEOs running 100 of the USA's biggest companies pulled in median 2002 compensation of $33.4 million, essentially unchanged from 2001.
Here's the, er, money quote as far as I'm concerned: "CEO salaries and bonuses surged 15% in a year salaries for rank-and-file workers averaged 3.2% gains." The article is pretty damning of corporate culture run amcuk; read the whole thing.
(via Oliver Willis)