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Ridiculous: More CEOs Received Pay Hikes Than Cuts in 2008

The AFL-CIO has launched a new Executive PayWatch site.

According to a new AFL-CIO survey of 946 companies, last year, 480 executives received pay raises, while 463 received pay cuts. Furthermore, the “median CEO salary rose 7 percent in 2008. CEO perks at the companies surveyed also went up, nearly 13 percent to an average value of $336,246, according to the survey. Of CEOs whose compensation increased, the average was $5.4 million, including salary, bonuses and stock options.” Today, the AFL-CIO also launched a new Executive PayWatch site.

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Amanda Terkel is Deputy Research Director at the Center for American Progress and serves as Deputy Editor for The Progress Report and ThinkProgress.org at the Center for American Progress.