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News > Jobs & Economy
CEO pay hikes double
Corporate Library survey finds median raise for S&P 500 CEO was 22.18% in 2003.
July 28, 2004: 8:34 AM EDT

NEW YORK (CNN/Money) - The CEO's at the nation's largest companies saw their raises more than doubled in 2003 as the median raise handed out by S&P 500 companies to their top executives was 22.18 percent, according to a study by The Corporate Library.

Chief Executive Officers
Corporate Governance
Financing, Stock Offerings
Options and Futures

The watchdog group said that stock options and awards of restricted stock drove the larger pay hikes. But most elements of the pay -- base salary, annual bonuses, restricted stock, long-term incentive payout, value realized from stock options and total compensation -- showed increases. The only type of compensation not to show a gain was the value of stock option grants during the year.

"This double-digit rise in pay shows that calls for pay restraint appear to be being ignored," said the statement from the group.

It said four S&P 500 companies -- Apple Computer (AAPL: Research, Estimates), Oracle (ORCL: Research, Estimates), Yahoo! (YHOO: Research, Estimates) and Colgate-Palmolive (CL: Research, Estimates), upped their CEO pay by well over 1,000 percent.

The compensation for all CEOs, a total sample of 1,429 companies, show median pay increases of 15 percent, up from 9 percent increases in 2002. The median is the pay increase at which there are the same number of pay increases that are greater and that are less.  Top of page

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