Monday, April 11, 2011

CEO Salaries Boom, Workers’ Pay Flat In 2010

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!

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