Being your own boss means giving yourself however big a raise you darn well please. A survey of the honchos at each Standard & Poor 500 company found that CEOs and their boards deemed their services an average of 36.5 percent more valuable than the year before, judging from the raises they received.
CNNMoney reports a survey of 3,000 companies found more modest pay increases of 27 percent. Research firm GMI made the findings, and a senior research associate with the company says the pay spikes didn’t match up to increases in their companies’ profits or share prices.
Hopefully the CEOs will demonstrate their greater value by dreaming up ways to add jobs and re-introduce the antiquated concept of pay raises to the worker bees.
CEO pay jumps 36.5 percent [CNNMoney]