The heads of the nation's top companies are recovering very well from the recession, especially in comparison with their employees:
At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives’ compensation started working its way back to prerecession levels, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics.
Two years of scaling back amid tough economic times proved temporary as three-quarters of CEOs got raises in 2010 — and, in many cases, the increases were substantial.
You know who’s to blame for this growing income gap between CEOs and private industry workers? Why, it’s those damn public-sector teachers, nurses and snow plow drivers!