Executive Paywatch
In 2008, the CEO of a Standard & Poor’s 500 company received, on average, $10.4 million in total compensation, according to The Corporate Library, a corporate governance research firm.
But even as the economy slumped, the median salary for CEOs of 200 large companies increased 4.5% to $1.08 million, according to a survey by The Wall Street Journal.
Even CEO perks went up, on average, 12.5% in 2008 to $336,248 — or nine times the median salary of a full-time worker.
The past two decades have seen a dramatic increase in the ratio between the compensation of executives and their employees.
These executive pay excesses come at the expense of share-holders as well as the company and its employees.
KGTV is owned by McGraw-Hill. In 2008, CEO Harold W. McGraw III raked in $9,914,082 in total compensation, about $79 a minute. That money could support 198 workers earning $50,000 a year.
Learn more about CEO compensation at Executive Paywatch.