The world’s biggest salaries
The salaries of US CEOs are spiraling out of control that even President Bush acknowledged “the anger of Americans at stories about the enormous salaries and other perks for CEOs.” And the gap between top officers’ and rank-and-file employees’ pay continues to widen.
He said the government should not decide the quantum, but it should be based on “their success at improving their companies and building value for their shareholders.” Well, to it’s the same story with sportspeople. But salaries for corporations’ employees can be better justified than those of sportsmen/women. Because how can you justify the earnings of some people who in 1 week will earn more than most people will do in their entire lifetime just by playing football?
Back to huge salaries and other perks for CEOs:
- Home Depot chief executive Bob Nardelli earned an average of USD25.7 million a year, not including stock options, before he was off due to uproar over his wages. Still, he left a happy man – the severance package worth about USD210 million.
- In 2001, General Electric paid CEO Jack Welch USD16.3 million. Welch was replaced the same year with Jeffrey Immelt, who earned “only” USD3.4 million in total in 2005.
- In 2003, the New York Stock Exchange paid CEO Richard Grasso’s USD187.5 million severance package.
Tags: salary, salaries, wage, wages, corporate america
