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Friday, December 16, 2011

U.S. CEO Pay Jumps Minimum Of 27 Percent Last Year: GovernanceMetrics survey

While the incomes of so many Americans remain the same size or get smaller, corporate chiefs can't say they're suffering in quite the same way.

American CEOs saw pay increases of between 27 and 40 percent last year, according to a GovernanceMetrics International survey. In addition, the median value of CEOs profits on stock options jumped to $1.3 million from $950,400.

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This, even after Congress passed financial reform regulations that included provisions aimed at making CEO pay more transparent by allowing shareholders to weigh in.

The survey's findings may resonate with Occupy movement activists, who have been railing against income inequality since the protests first started.

Indeed, CEO pay by itself exceeded the amount that his or her corporation paid in income taxes in at least 25 cases last year. And in the year before, while America's highest-highest-paid corporate chief netted more than $145 million, U.S. median income fell to below $27,000 - meaning half of all earners made less than that.

John Hammergren, CEO of healthcare provider McKesson, isn't the only boss taking home the big bucks. JPMorgan Chase Chief Jamie Dimon got a $19 million raise in 2010 and Goldman Sachs CEO Lloyd Blankfein netted an extra $3.6 million in bonuses last year.

ORIGINAL SOURCE
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