Did you get a 7% raise last year? Didn’t think so. But, hey, if you did, then congratulations: Your raise was in line with what CEOs at the biggest companies got — only for chief executives, that 7% was roughly $800,000 in additional compensation.
Pay for CEOs at S&P 500 companies rose to a median of $12 million last year, including salary, stock and other compensation, according to data analyzed by Equilar for the Associated Press. Theas companies tie more of their CEOs’ pay to their stock prices, which are still near record levels, and as profits hit an all-time high last year due to lower tax bills and a still-growing economy.
Pay for typical workers at these companiesThe median increase was 3% last year, less than half the growth for the top bosses. Median means half were larger, and half were smaller.