Twice as many top American companies reportedly increased their chiefs’ pay in fiscal 2016 as cut it.
Median pay for the chief executives of 104 of the biggest American companies rose 6.8% for fiscal 2016 to $11.5 million, on track to set a postrecession record, according to a Wall Street Journal analysis.
“Twice as many companies increased their chiefs’ pay as reduced it, though a few high-profile bosses took substantial pay cuts, including Apple Inc.’s Tim Cook and General Electric Co.’s Jeff Immelt,” the Journal reported.
“The results, representing about a fifth of the S&P 500, suggest the 2015 slowdown in chief executive pay was temporary. Median annual pay for a broader sample of CEOs, disclosed last year, fell to $10.8 million in fiscal 2015, with most getting a pay cut or a raise of less than 1.5%,” the Journal said.
The higher pay was doled out as the stock