NEW YORK—Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year.
The head of a typical large public company earned a record $10.5 million, an increase of 8.8 per cent from $9.6 million in 2012, according to a new Associated Press/Equilar study.
Last year was the fourth straight that CEO compensation rose following a decline during the Great Recession. The median CEO pay package climbed more than 50 per cent over that stretch. A chief executive now makes about 257 times the average worker’s salary, up sharply from 181 times in 2009.
The best paid CEO last year led an oilfield-services company. The highest paid female CEO was Carol Meyrowitz of discount retail giant TJX, owner of TJ Maxx and Marshall’s. And the head of Monster Beverage got a monster of a raise.
Here are the top 10 highest paid CEOs in 2013:
Equilar examined the regulatory filings detailing the pay packages of 337 CEOs. Equilar looked at Standard & Poor’s 500 companies that had filed statements with federal regulators between Jan. 1 and April 30, 2014. To avoid the distortions caused by sign-on bonuses, the sample includes only CEOs in place for at least two years.
To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards and other pay components.