CEO pay hikes double!
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| Wed, 07-28-2004 - 2:15pm |
Corporate Library survey finds median raise for S&P 500 CEO was 22.18% in 2003.
http://money.cnn.com/2004/07/28/news/economy/ceo_pay/index.htm?cnn=yes
The CEO's at the nation's largest companies saw their raises more than doubled in 2003 as the median raise handed out by S&P 500 companies to their top executives was 22.18 percent, according to a study by The Corporate Library.
The watchdog group said that stock options and awards of restricted stock drove the larger pay hikes. But most elements of the pay -- base salary, annual bonuses, restricted stock, long-term incentive payout, value realized from stock options and total compensation -- showed increases. The only type of compensation not to show a gain was the value of stock option grants during the year.
"This double-digit rise in pay shows that calls for pay restraint appear to be being ignored," said the statement from the group.
It said four S&P 500 companies -- Apple Computer (AAPL: Research, Estimates), Oracle (ORCL: Research, Estimates), Yahoo! (YHOO: Research, Estimates) and Colgate-Palmolive (CL: Research, Estimates), upped their CEO pay by well over 1,000 percent.
The compensation for all CEOs, a total sample of 1,429 companies, show median pay increases of 15 percent, up from 9 percent increases in 2002. The median is the pay increase at which there are the same number of pay increases that are greater and that are less.


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cl-Libraone~"
Well your perception is wrong. I do care about others. The problem is these types of posts do nothing to address problems just cry about them.
If a CEO makes huge pay increases and they aren't performance based then the company deserves its fate. Did we lose the middle class when we were an agricultural system and became an industrialized nation? No, the farmers who were displaced adapted and we as a society moved on. We are no longer an industrialized nation, we have moved passed that. Other countries are just starting to become industrialized. We are more service and research related now. We are in an information age now.
We are a successful country and civilization. We will adapt. This complaining about the rich getting richer is just class envy and warfare cloaked in a garb of compassion. I'd venture to say that most people complaining do nothing to care of others yet they call me uncompasionate. (This isn't aimed at anyone on this board, though it may fit).
Just work hard, concetrate on improving yourself and skillset and you'll succeed.
All this whining is a waste of time. If you are on a messageboard complaining about your lack of financial success or lost job to outsourcing, your problem isn't the rich it's yourself.
Sorry if this doesn't sound compassionate but sometimes the truth hurts.
"dad is skilled trades"
Does
I agree, and a shift like that is never easy. It always has it's bumps. My husband was riding high job wise in the "dot boom", 24 years old and making $85,000 a year. Then we had to weather the "dot bomb". The company he worked for went under, we watched friends loose tons of money they'd invested in company stock....my husband couldn't find a job that would pay him what his skill set was worth...it was tough. He's climbing back up now though. In six months at his new job he's received a $3000 raise with another significant raise promised at his 12 month anniversary. He's moved from "solution developer" to "solution architect/project manager" in 6 months. He works his tail off though. I really believe if he hadn't taken the initiative to get himself in a better position in the company it wouldn't have happened.
Life is what you make of it.
Yes, he's the member of the UAW, but he's starting to get disenfranchised with being in a union as he watches people take advantage of the situation in order to be lazy. Before he transferred shops he worked with a woman who missed her regular shift a lot, but would accept and show up for the over-time (see, in GM you don't have to put in 40 hours to get OT, if you're working outside of your regular shift you get paid time and a half), would refuse to do jobs (she was skilled trades as well) and other just shoddy employee antics; and every time her boss would threaten to suspend her she'd go to the union and tell them that the boss had a problem with "women of her color." And then the union would jump on the boss's butt....and so the cycle went.
He is thankful for the things being a union member affords him (health insurance, good pay, etc.) but is tired of seing so many people exploit the system too.
Well, that is obviously important to me, since I know I wouldn't be going to school right now if it wasn't for my financial aid. In all reality, I get a really good deal. My financial aid award letter has a Pell Grant, a Michigan competitive scholarship and grant money if I wanted to do work study (I don't use that though...I take distance learning classes so that I can still be at home with my little ones while getting my degree). I personally don't need more aid, but I'm sure there are lots of people who do.
I'm still not sure who I'll vote for. I will probably make that decision about two days before election day...lol...
"people exploit the system"
A few ruin a good thing for the many, it's disheartening.
Wow, that's crazy paying OT without 40 hrs. in. Makes me wonder who signed that deal.
I might do that one day...but right now I barely have the time to post here!
I guess you can't call it a refund, can you. You should call it a gift, and I wouldn't brag about it incase the IRA made a mistake and comes to collect.
Ah, the American Dream. Have you ever thought that maybe a nice white collar job will not be available. But that is years away, no need to consider it now.
Jobs in the future: No boom in the need for college graduates
What kind of jobs will exist in the future? Many analysts have conjectured that there will be a bounty of good white-collar jobs and that, as a result, we need not be concerned about the offshoring of white-collar work. However, the Bureau of Labor Statistics (BLS) employment projections, the only data available to analyze this issue, show that there will not be any surge in the need for college-educated workers over the next decade that will offset losses from offshoring (a factor not incorporated in the current BLS projections). Moreover, there is unlikely to be any skills mismatch between the jobs available and the skills of the workforce.
The figure below presents an analysis of how "occupation shifts" (changes in the shares of total employment among 725 occupations) between 2002 and 2012 will affect the demand for workers at three different education levels: those with "high school or less," those with "some college," and those with a college degree or more.
The jobs of the future will require only slightly greater education credentials. In 2002, according to the BLS data, the occupational composition of jobs required that 26.9% of the workforce have a college degree or more. This share will rise by one percentage point to 27.9% by 2012. The job shifts will not necessitate the expansion of the share of the workforce with only some college, a group roughly the same size as the college-educated workforce that will be required in 2012. The demand for workers with a high school degree or less will fall slightly, from 44.3% to 43.4% over the 2002 to 2012 period.
A similar analysis (described in the forthcoming EPI publication, State of Working America 2004-2005) shows that employment will be shifting to occupations with higher median annual wages, but the effect will be to raise annual wages by only 1% over 10 years (or 0.1% per year). This is not a large change compared to the real wage growth that occurs each year or to the effects of occupational shifts identified in earlier years.
These projections show that there will continue to be an occupational upgrading in the future whereby the jobs created will be in occupations with somewhat higher wages and educational requirements. This trend has been evident over the last century, and the Bureau of Labor Statistics' expectations for the future do not appear to be extraordinary in any sense. These projections provide no evidence that employers' skill demands will outpace the supply of skilled workers expected over the next decade, and there is no evidence of a forthcoming skills gap, a concern often expressed.
Whether workers earn substantially more in the future than they do now, or need greater education levels, will primarily be determined by how much earnings and skills rise within particular occupations rather than by any change we can expect in the occupational composition of jobs. There does not appear to be a strong influx of white-collar jobs on the horizon that will make up for those offshored.
http://www.epinet.org/content.cfm/webfeatures_snapshots_07212004
As cl I read all post, some more carefully than others if they interest me.
On other boards I ignore posts that I have no interest in, that's your privilege too.
Your post sounded mean spirited & lacking in compassion, IMO.
I do appreciate you posting & your
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