To print article, click Print on your browser's File menu. Go back Posted 5/13/2004 Get market news by e-mail See if refinancing works Personal finance bookshelf Letters from MSN Money readers Find It! Article Index Fast Answers Tools Index Site map		Extra Study: CEO Pay Rose 27% in 2003 Stock awards help drive the average corporate chieftains annual compensation to $4.6 million, exceeding the previous years figure by $1 million. By Reuters The median compensation for chief executives at the largest U.S. companies rose to $4.6 million last year, up from a median $3.6 million in 2002, according to the latest pay survey by the Corporate Library. The 27% climb in overall pay -- base salary, bonus, options proceeds, restricted stock awards and long-term incentive plans -- exceeds the 11.5% rise in 2002 over 2001. I am surprised at the strength of the growth in the annual compensation, said Paul Hodgson, author of the 2003 CEO pay report. Driving the gains were restricted stock awards. The 2003 median value for these awards was nearly $2 million, up from $1.46 million in 2002. Last year, 116 CEOs received restricted stock awards, up from 99 in 2002. Related news and commentary on MSN • Overhaul redefines overtime pay rules • The hottest -- and best-paying -- careers • 7 out-of-favor stocks CEOs are buying • Market Dispatch: Jobs jump in April (again) • MSN Careers: How to ask for a raise • MSN: Careers: Four fear factors of changing Jobs The data are drawn from the compensation figures for 328 CEOs at S&P 500 ($INX) companies, where the median base salary last year was $986,250, up 3.7%. The rise in pay shows that calls for pay restraint are being ignored. The increase for S&P 500 CEOs in 2003, is nearly three times the rise seen for 2002, when total compensation rose by only 11.48%, the Corporate Library said. More Resources ·  E-mail us your comments on this article ·  Post on the Your Money message board ·  Get a daily dose of market news Search MSN Money     tips   advertisement Sponsored Links
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