The final figures show that the median pay for top executives at 200 big companies last year was $10.8 million. That works out to a 23 percent gain from 2009. The earlier study had put the median pay at a none-too-shabby $9.6 million, up 12 percent.
Total C.E.O. pay hasn’t quite returned to its heady, prerecession levels — but it certainly seems headed there. Despite the soft economy, weak home prices and persistently high unemployment, some top executives are already making more than they were before the economy soured.
Pay skyrocketed last year because many companies brought back cash bonuses, says Aaron Boyd, head of research at Equilar. Cash bonuses, as opposed to those awarded in stock options, jumped by an astounding 38 percent, the final numbers show.
Granted, many American corporations did well last year. Profits were up substantially. As a result, many companies are sharing the wealth, at least with their executives. “We’re seeing a lot of that reflected in the pay,” Mr. Boyd says.
And at a time of so much tumult in the media business, it might be surprising that some executives in media and communications were among the most richly rewarded last year.
No foolin'? Turns out executive pay in 2009 was up 23%, not 12%. And wages for the rest of us went down due to cut hours, layoffs, and loss of overtime pay. But look at all the jobs they creat...oh wait.
Still think America's rich can't afford to lose those Bush tax breaks, America? They're too busy counting their massive income increases and laughing at how stupid and easily manipulated America is to care, and the Village media was at the top of the list for getting big bucks. Surprise!