Posts Tagged ‘CEOs’

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Posted: 13 June 2014 in Uncategorized
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In charting the amount of the surplus that ends up in the hands (or, if you prefer, pockets or bank accounts) of CEOs, the Economic Policy Institute finds that:

  • Average CEO compensation was $15.2 million in 2013, using a comprehensive measure of CEO pay that covers CEOs of the top 350 U.S. firms and includes the value of stock options exercised in a given year, up 2.8 percent since 2012 and 21.7 percent since 2010.
  • From 1978 to 2013, CEO compensation, inflation-adjusted, increased 937 percent, a rise more than double stock market growth and substantially greater than the painfully slow 10.2 percent growth in a typical worker’s compensation over the same period.
  • The CEO-to-worker compensation ratio was 20-to-1 in 1965 and 29.9-to-1 in 1978, grew to 122.6-to-1 in 1995, peaked at 383.4-to-1 in 2000, and was 295.9-to-1 in 2013, far higher than it was in the 1960s, 1970s, 1980s, or 1990s.
  • If Facebook, which they exclude from their data due to its outlier high compensation numbers, were included in the sample, average CEO pay was $24.8 million in 2013, and the CEO-to-worker compensation ratio was 510.7-to-1.

 

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The Wall Street Journal reports that the Class of 2014 is the most indebted class ever.

The average Class of 2014 graduate with student-loan debt has to pay back some $33,000, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of web sites about planning and paying for college. Even after adjusting for inflation that’s nearly double the amount borrowers had to pay back 20 years ago.

One problem is the growing gap between earnings and average student loan balance, as in the chart below:

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Another problem is, as the Institute for Policy Studies [pdf] reports, the student debt crisis is worse at state schools with the highest-paid presidents.

Though it has been rising everywhere, average student debt of graduates in the top 25 public universities with the highest executive pay increased 5 percentage points more or 13% faster than the national average from summer 2006 to summer 2012.

The rise was most pronounced when executive compensation soared during the 1% recovery. From summer 2010 to summer 2011 alone, student debt in the top 25 rose by 10%, increasing 43% faster than the national average.

And to make matters even worse, today’s Chronicle of Higher Education reports that executive compensation is rising at public universities.

The million-dollar college presidency, which was unheard of at public institutions less than a decade ago, is increasingly common at top-tier universities. Nine college leaders earned more than $1-million in 2012-13, up from four in 2011-12, and three in 2010-11.

Finally, back to the report by the Institute for Policy Studies report, public universities with the highest executive compensation are increasingly relying on low-wage faculty labor.

As in universities everywhere, hiring of adjunct and contingent faculty far outstripped permanent faculty hiring at the 25 public universities with the highest executive pay. However, we found that adjunct (part- time) and contingent (temporary) faculty grew much faster than the national average when executive compensation soared at the top 25.

Put it all together and we have students who are increasingly going into debt at universities where executive compensation is soaring and education is being produced by part-time and contingent faculty in order to graduate and obtain jobs that are making it difficult to pay off their student loans.

Chart of the day

Posted: 16 May 2014 in Uncategorized
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payscale

A new study by Payscale, a business research group, illustrates how much many CEOs are being paid compared to the median workers’ salaries in their companies.*

CVS/Caremark tops the list, with CEO Larry Merlo taking home more than $12 million while the median employee salary is $28,700—a ratio of 422 to 1. Goodyear comes in second, with a ratio of 323 to 1, and the Walt Disney Company stands at 283 to 1.

 

*The interactive chart is here. PayScale only looked at the top 100 publicly traded companies by revenue. So, many companies notorious for CEO-to-worker pay disparities aren’t included.

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