If you see your company's CEO today, put a few coins in his empty change cup. His bank account is probably hurting.
According to a new survey, the average base salary of the highest-paid execs in publicly held U.S. companies decreased by about 24 percent in the past 12 months. That's according to a study released by the Economic Research Institute.
The average top exec is now trying to get by on a paltry $16.6 million per year. Oh, corporate greed, we miss you so...
But don't think the corporate
whor leaders are going to be lining up second jobs at McDonald's any time soon, though.
While the base salary has gone down about 24 percent, their total compensation has only dropped 3.3 percent.
So where did they make up most of the difference? Not in stock options or pension, which both dropped 6 percent. No, they made it up in a category called "All Other," which increased 15.4 percent.
We're guessing that's corporate speak for "large bonuses for each employee laid off," but we could be wrong...