Ridiculous: More CEOs Received Pay Hikes Than Cuts in 2008
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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.
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.