The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a…
Half the CEOs in this year’s pay survey made at least 196 times what their median employee earned. That’s up from 185 times in last year’s survey.The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans' budgets.
“Most of the focus here is on inflation, which people are really feeling, but they’re feeling the pain of inflation more because they’re not seeing their wages go up enough," she said. Like rival Nvidia Inc., Broadcom is riding the current artificial intelligence frenzy among tech companies. Its chips are used by businesses and public entities ranging from major banks, retailers, telecom operators and government bodies.
The survey's methodology excluded CEOs such as Nikesh Arora at Palo Alto Networks and Christopher Winfrey at Charter Communications .at the electric car company. Musk is asking shareholders to restore a pay package that was struck down by a judge in Delaware, who said the approval process for the package was “deeply flawed.” The compensation, mostly stock awards valued at $2.3 billion when granted in 2018, is now estimated to be worth around $45 billion.
“The pay ratio signals a sort of a winner take all culture, that companies are treating their CEOs as, you know, as superstars as opposed to, team players,” Rees said.Despite the criticism, shareholders tend to give overwhelming support to pay packages for company leaders. From 2019 to 2023, companies typically received just under 90% of the vote for their executive compensation plans, according to data from Equilar.
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