Weekly Update

Executive Pay Scorecard

Every spring, top media outlets and business research organizations in the United States release compensation surveys that detail executive pay levels over the preceding year. These surveys seldom sample the same corporations — or measure pay the exact same way — and, consequently, almost always generate somewhat different results. This Too Much table compares the various reports released so far in 2010 on CEO pay for 2009. Check here for surveys covering executive pay in 2008.

National Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
Wall Street Journal
April 1, 2010
Survey, by the Hay Group, covers CEOs at the first 200 firms with over $5 billion in revenue to file 2009 data. Total direct compensation covers salaries, bonuses, and the value of new stock awards. Not included: perks, tax gross-ups, changes in pension value and deferred pay earnings, and earnings from previously awarded options. Ray Irani, Occidental Petroleum, $52.2 million Median: $6.95 million Median: -0.9% The two industries with the year’s highest pay median: health care and oil and gas, with both at $10.4 million. Close behind: finance at $9.2 million. Ray Irani gamed another $96.5 million from the exercise of options collected in previous years and the vesting of restricted stock.
New York Times
April 4, 2010

The survey, by Equilar, reflects pay for 200 CEOs at firms with revenues over $5.78 billion that filed proxies by March 26. Pay includes salary, bonuses, the grant date value of stock and stock option awards, and perks. Does not include payouts from stock awards made in previous years. Lawrence Ellison, Oracle, $85 million Median: $7.7 million
Average: $9.5 million
Median: -13%
Average: -15%
Dragging down the overall CEO pay totals: compensation for 12 CEOs at enterprises that received TARP bailout dollaws. Median pay for this dozen dropped 34 percent.
AFL-CIO
Executive
Pay Watch

April 13, 2010
Survey, by salary.com, covers 292 companies in the S&P 500 Index. Broader Executive Pay Watch database covers nearly 3,000 corporations. Pay does not include gains from stock options collected in previous years.   Average: $9.25 million   The average U.S. worker would have to work until 2989 A.D. to match the $31.4 million 2009 compensation of Occidental Petroleum CEO Ray Irani.
Forbes
April 28, 2010
Survey tracks the pay of CEOs at nation’s 500 largest companies. Pay includes salary, bonuses, vested restricted stock grants, long-term incentive payouts, perks, stock gains, and the “value realized by exercising stock options,” as identified in annual filings made by April 9. H. Lawrence Culp Jr., Danaher, $141.36 million Average: $8 million Average: -30% The 500 surveyed execs, even after a major plunge from the take-home of the previous year, walked off with $4 billion in 2009. The 25 highest paid all took home at least $24.77 million, with the top four each over $100 million.
           

Regional Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
Gazette
(Maryland)

April 16, 2010
Survey, conducted by Equilar, covered chief executives at 199 major publicly traded companies with substantial workforces in Maryland. Firms all had at least $5.8 billion in revenue and filed annual proxy statements by March 26. Robert Stephens, Lockheed Martin, $23 million Median: $7.7 million Median: -13 percent The year’s big Gainer: Host Hotels & Resorts CEO W. Edward Walter, who saw his pay surge 59 percent to $4.6 million.
Colorado Springs
Gazette

May 1, 2010
Survey covered chief executives at four major publicly traded companies in Colorado Springs. Emile Geisenheimer, Spectranetics, $2.01 million Average: $1.04 million Median: 19 percent The lowest CEO earner: William Staunton, CEO of semiconductor maker Ramtron. The firm had a rough year, and Staunton took home $397,200, with no extra bonus or options. Says the CEO: “To reward executives for not making money is unfathomable to us.”
Indianapolis Business Journal
May 22, 2010
Survey tracks pay of 238 Indiana executives at public vtraded companies. John Lechleiter, Eli Lilly, $16.4 million     Of the over 200 executives tracked, 103 saw pay increases in the Great recession year of 2009 and 131 declines, with 89 execs in total making $1 million or more.
Idaho Statesman
May 30, 2010
Survey examined pPay for CEOs at Idaho’s top 12 publicly traded companies. Phillips Baker Jr., Hecla Mining Co., $3.2 million     Idaho’s top five execs each took home over $2 million in 2009.
Los Angeles Times
May 30, 2010
Survey, by research firm Equilar Inc., looked at chief executive pay for the top 100 California companies tnat had reported pay totals by May 8. Total does not includes deferred compensation or profits from stock options cashed out during the year. Larry Ellison, Oracle, $84.5 million Average: $8.4 million Average: -11% Overall, 26 California CEOs took home at least $10 million in 2009.
Tulsa World
June 12, 2010
Survey examined the pay of company executives based in eastern Oklahoma. Steven Malcolm, Williams Cos. Inc., $8 million      
Dallas Morning News
June 13, 2010
Survey looked at chief executive pay at the 100 largest companies in the Dallas-Fort Worth area. Randall Stephenson, AT&T, $29.2 million Median: $2.23 million

Median: -7.32%

Average: .55%

Eight top executives pulled in at least $10 million in 2009, 24 at least $5 million.
Pittsburgh Tribune-Review
June 13, 2010
Survey, by Equilar, includes “the value of stock options exercised, less their price when issued, and stock that vests — that is, becomes available to an executive during the year.” James Rohr, PNC Financial Services Group, $25 million     In 2009, 85 western Pennsylvania executives took home at least $1 million.
San Jose Mercury News
June 13, 2010
Survey, by Equilar, covered the 2009 compensation for “155 chief executives heading Silicon Valley’s largest companies based on revenue,” for companies that had filed pay records by May 21. Larry Ellison, Oracle, $84.5 million Median: $2.02 million Median: -4.5% The 155 execs together took home $579 million. In 2009, Larry Ellison made the the year’s Silicon Valley per capita income of $62,000 every six and a half hours.
Minneapolis Star Tribune
June 27, 2010
Survey looked at 100 Minnesota top execs, using “a ‘cash value’ recognition method that counts all dollars received in the reporting year, including any gains on the exercise of stock options.” Pay totals do not include new option awards. Stephen Hemsley, UnitedHealth Group, $101.96 million Median: $926,818
(Does not include Hemsley compensation)
Median: -1.2% Hemsley’s reward reflects the $98.6 million he cleared exercising stock options received in previous years. Midwest worker wages rose last year about 2 percent, the smallest hike in 37 years.
Rochester Democrat and Chronicle
June 27, 2010
Survey covers 50 top executives of companies with a major presence in the Rochester area.       Overall, 33 CEOs made more in salary and bonuses last year than the year before, 17 less. New York workers earned 1.4 percent less in the first half of 2009 than they earned in the first half of 2008.
           

Economic Sector Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
AR/Alpha
April 1, 2010
Survey covers the 25 top hedge fund managers. Pay includes “the managers’ shares of their firm’s performance and management fees, as well as gains on their own capital invested in their funds.” David Tepper, Appaloosa Management, $4 billion Average, top 25:
$1.01 billion
.
Average, top 25:
118%
In 2009, 10 hedge fund managers made at least $825 million. Combined earnings for the top 25 for the year, reports the trade journal Alpha, broke the previous $22.3 billion record set in 2007.
           
           
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