Top Dogs Keeping More of the Spoils for Themselves

Top execs are keeping a much bigger portion of the earnings pie for themselves than they were a decade ago according to a recent study by Lucian Bebchuk, a Harvard Law scholar of executive-pay practices, and Cornell’s Yaniv Grinstein. From 1999 to 2003, the five top folks at each of the 1,500 largest publicly traded companies cumulatively took home $122 billion in salary, bonus and stock, compared with $68 billion from 1993 through 1997. Between 2001 to 2003, this cane out to 9.8% of the companies’ net income, almost double the 5% in 1993 to 1995. As Mel Brooks said, it’s good to be the king.
Memo to Activists: Mind CEO Pay [Wall Street Journal]

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