A Quick Take on CEO Pay

September 26, 2008

From the Economic Policy Institute: The financial services industry paid its CEOs an average of $18,876,000 in 2007 – the highest of nine industries surveyed by the Hays Group for the Wall Street Journal. Oil and gas companies followed close behind, with average total compensation of $18,406,000 per CEO, according to an EPI analysis of the data. In contrast, the Social Security Administration reports that the average wage in 2006 (the latest year available) was just $37,078. Said EPI President Larry Mishel: “Congress should make sure that the bailout does not further enrich these already overpaid and underperforming executives.”