By Edward Carpenter, CBS MarketWatch.com Last Update: 5:01 PM ET May 12, 2004
SAN FRANCISCO (CBS.MW) -- Chief executives' median pay swelled more than 27 percent last year, in spite of calls for corporate pay restraint.
Total median compensation for CEOs in the S&P 500 jumped to $4.6 million in 2003, compared to $3.6 million a year earlier, according to a report Wednesday from corporate watchdog The Corporate Library. The jump comes on top of an 11.5 percent gain a year earlier. ...
The soaring compensation figures appear to fly in the face of moves by corporate governing boards, including that of the New York Stock Exchange, to scale back CEO pay. ... "You would have thought that the message might have gotten through by now," [Paul] Hodgson [senior research analyst for The Corporate Library] said.
Carl
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