Investing

Executive Pay Up 14% in 2011

The data is from a major union, and, therefore, may have a bias against chief executives. Numbers can be bent.

The AFL-CIO reports that CEO pay rose 14% last year:

According to data released by the AFL-CIO today, CEOs of S&P 500 Index companies received an average of $12.9 million in pay in 2011 – a 14 percent raise. The ratio of CEO to worker pay is now 380 to 1. The newly designed Executive PayWatch, a searchable online database, provides direct comparison of top CEO pay to average wages of workers, such as a nurse, teacher, firefighter and others.

The figure cannot be complete, since not all 2011 proxies for S&P 500 firms are in yet.

The union also tried to humilate public corporations that “hoarded” cash last year and fired workers. This list includes Verizon (NYSE: VZ), Bristol-Myers Squibb (NYSE: BMY), News Corp (NYSE: NWS),  Johnson & Johnson (NYSE: JNJ) and Wellpoint (NYSE: WLP).

Douglas A. McIntyre

Is Your Money Earning the Best Possible Rate? (Sponsor)

Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.

However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.

There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.