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Executive Pay Scorecard 2011

Executive Pay ScorecardEvery spring, top U.S. media outlets and business research organizations release compensation surveys that detail executive pay levels over the preceding year. These surveys seldom sample the same corporations — or measure pay the same way — and, consequently, almost always generate somewhat different results.

This Executive Pay Scorecard compares the various reports released so far in 2011 on CEO pay for 2010. We’ve separated these reports into three categories: those surveys that cover the national scene, those that focus on metro areas and regions, and those that zero in on specific economic sectors.

National Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
Governance Metrics
(former Corporate Library)

June 7, 2011
Covers 747 firms filing from June 30, 2010 to March 24, 2011. Total realized compensation includes salary, bonuses, non-equity incentives, perks, benefits, plus changes in pensions and deferred pay, gains on exercised stock options and vesting of other equity, and payments from vested retirement plans. Robert Iger, Walt Disney Co., $54.9 million Median $8.49 million
Average: $11.95 million
Median: +28%
Average: +18%
Cash bonuses totaled more than $90.5 million for the top 10 CEOs in 2010, well above the $29.5 million total in 2009, $23.5 million in 2008, and $32.3 million in 2007.
Forbes
April 25, 2011
Covers chief execs of the 500 biggest U.S. companies. Pay includes salary, bonus, and the value realized on exercised option and vested stock awards. Stephen Hemsley, UnitedHealth Group, $102.01 million Average: $9 million Average: +12% For the year, Forbes tallies five CEOs who pocketed at least $49.5 million.
AFL-CIO PayWatch
April 19, 2011
Covers pay at 299 major U.S. S & P 500 companies. Pay totals do not include the gains realized last year on options awarded in earlier years. Philippe P. Dauman, Viacom, $84.5 million Average: $11.4 million The combined pay of the 299 CEOs tracked in this survey could support 102,325 workers earning the median wage.
New York Times
April 10, 2011
Covers pay for 200 CEOs at firms with revenues over $7 billion that filed proxies by April 1. Pay includes salary, bonuses, grant date value of stock and stock option awards, and perks. Not included: payouts from stock awards from previous years. Philippe Dauman, Viacom, $84.5 million Median: $9.6 million Median: +12% Ranking third on this year’s list: Oracle’s Larry Ellison. He pocketed $70.1 million. Ellison may soon not need any more incentive. He currently holds $26.3 billion in Oracle stock and other assets.
USA Today
April 1, 2011
Covers 158 S&P 500 index companies with the same CEO serving all of 2009 and 2010. Pay figures cover salary, cash bonuses, new stock awards, and perks, but not options awarded in previous years. Philippe Dauman, Viacom, $84.5 million Median: $9.0 million Median: +27% Average worker pay only increased 2.1 percent in 2010. Share prices for the S&P 500 jumped 12.8 percent in 2010.

Regional Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
Las Vegas Inc.
June 21, 2011
Covers over 100 Southern Nevada execs. Pay includes salary, bonus, nonequity comp, change in pension, options exercised, and stocks vested. Michael Leven, Las Vegas Sands, $31.8 million Average for top 10: $12.2 million More than 40 exec in the Las Vegas area, the epicenter of the housing crash, received 2010 bonuses, ranging from $25,000 to $2 million.
Washington Post
June 19, 2011
Covers chief exec pay at nearly 100 large publicly traded companies in the D.C. metro region. Pay includes salary, cash bonus, the grant-date value of stock and option awards, and benefits and perks, but not exercised stock options. David Zaslav, Discovery Communications, $42.6 million Median: $2.5 million Median: +13.2% Three defense CEOs — Northrop Grumman’s Wesley Bush ($22.1 mil), Lockheed Martin’s Bob Stevens ($19.1 mil), General Dynamic’s Jay Johnson ($13.8 mil) — ranked in the D.C. area’s 10 highest paid.
Hartford Business Journal
June 20, 2011
Covers the 25 highest-paid executives in Connecticut. Pay does not include the value of exercised options. John Lundgren, Stanley Black and Decker, $32.7 million The top three execs at Stanley Black and Decker pulled in $80.1 million for the 2010 fiscal year.
Charlotte Observer
June 20, 2011
Covers salary, bonuses, stock and option awards, interest on deferred compensation above market rates, and any perks or other compensation for CEOs at North Carolina’s 50 largest publicly held companies. Martin Orlowsky, Lorillard Inc., $18.8 million Median: $3.9 million Median: +30% Average North Carolina weekly earnings increased just 1 percent in 2010. In Mecklenburg County, the average rose 2.2 percent.
San Jose Mercury News June 19, 2011 Covers salaries, bonuses, stock grants, and option awards reported by the valley’s 145 biggest publicly traded companies. Larry Ellison, Oracle, $70.1 million Median: $2.8 million Median: +37% Silicon Valley execs in 2010 scored an overall pay increase 20 times larger than average Silicon Valley worker 1.6 percent hike.
Palm Beach Post
June 13, 2011
Covers 115 execs at 26 Palm Beach County, Florida companies. Pay includes salary, bonus, option gains, stock vestings, and perks, but not stock awarded during 2010. Lewis Hay, NextEra Energy, $19.58 million Median: $656,122
Average: $1.7 million
Median: +23%
Average: +40%
The average pay for all Palm Beach County workers has increased only 3.6 percent in the past year. The average executive pay hike for the year rates as the highest the Palm Beach Post has ever recorded.
San Diego Union Tribune
June 11, 2011
Covers about 100 publicly traded San Diego companies. Pay includes salary, bonus, perks, exercised options, and vested restricted stock. Gregory Lucier, Life Technologies, $33.7 million Average: $1.8 million Average: +21% The average wage for payroll workers in San Diego County has increased 2.8 percent over the past year.
Buffalo News
June 7, 2011
Covers 52 Buffalo area top executives. David Smith, National Fuel Gas Co., $7.1 million Median: $962,781 Median: +10% A worker at Buffalo’s median income would have to work until 2039 to earn as much as the typical local CEO took home last year.
The Tennessean
May 31, 2011
Covers 20 top Tennessee CEOs. Pay includes value of stock and options on the day granted, but not exercised options. Richard Bracken, HCA Holdings, $38 million Average: $7 million Average: +24% The top three CEOs of this year’s list all came from the health care industry. They averaged $22.3 million.
Los Angeles Times
May 29, 2011
Covers California’s 100 biggest public companies as measured by revenue. Pay includes salary, cash bonus, the grant-date value of stock and option awards, and benefits and perks, but not exercised stock options. Ray Irani, Occidental Petroleum, $76 million Average: $10.4 million, Average: +23% The 10 highest-paid California CEOs averaged $36.5 million.
Chicago Tribune
May 22, 2011
Covers CEOs at Chicagoland’s 100 biggest public companies. Pay includes salary, bonus, stock options and awards, pensions, performance awards, and perks. Adam Metz, General Growth Properties Inc., $49.7 million Median: $5.2 million
Average: $6.6 million
Median: +43.6%
Average: +24.5%
The median CEO pay increase in 2010 more than doubled the 20.6 percent median pay hike in 2009.

Economic Sector Pay Reports

Source Methodology Top Pay Median/Avg Increase Worth Noting
Banks
Financial Times

June 14, 2011
Covers pay for the top 15 U.S. and European bank CEOs. Pay includes salary, cash bonuses, grant-date value of stock and option awards, and other benefits. Jamie Dimon, JPMorgan Chase, $20.8 million Average: $9.7 million Average: +36% Dimon of JPMorgan Chase and Goldman Sachs CEO Lloyd Blankfein each made more than 15 times their 2009 earnings in 2010.
Real Estate 

FPL Associates
June 8, 2011

Covers executive compensation at the country’s top 100 publicly traded real estate companies. Median: $3.4 million Median: +26% In 2010, pay at the top realty companies actually eclipsed the 2006 pre-recession real estate executive peak levels by 13 percent.
Chief Financial Officers 

CFO.com
June 7, 2011

Covers 55 early proxy filers this year, all companies with annual revenues of $1 billion to $150 billion. Median: +23% CFO pay increases at the firms surveyed here actually outpaced CEO pay hikes. The median CEO pay increase: 18 percent.
Entertainment 

Los Angeles Times
May 29, 2011

Covers nation’s 30 top entertainment companies. Pay includes salary, cash bonus, the grant-date value of stock and option awards, and benefits and perks, but not exercised stock options. Philippe Dauman, Viacom, $84.5 million Average: $22.3 million Viacom has three execs in the top five, Comcast two in the top ten.
Financial Industry 

Bloomberg Markets Magazine
May 25, 2011

Covers the 50 best-paid CEOs at the largest U.S.-based financial companies by market capitalization. Larry Fink, BlackRock Inc., $23.8 million Average: $11.5 million Average: 26% Almost half of the 50 companies in the ranking, 24, received money from the federal government’s Troubled Asset Relief Program.
Hedge Funds 

AR/Alpha
April 1, 2011

Survey covers the 25 top hedge fund managers. Pay includes “the managers’ shares of their firm’s performance and management fees, as well as gains on their own capital invested in their funds.” John Paulson, Paulson & Company, $4.9 billion Average, top 25: $882.8 million Average, top 25: -12.6% This year’s top 25 average comes in at the third-best ever, trailing only the record 2010 average and the tally for 2007, the last pre-Great Recession year.