Bosses Day
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Monday is Bosses Day. A recent American Express Co. survey found that a majority of American workers feel their bosses should be given a raise. Other surveys, however, reveal some enlightening facts about executive compensation that workers might want to mull over on Bosses Day:
* The median annual total compensation (salary plus bonuses) for chief executives in the U.S. was $1.68 million in 1999. (Report on Salary Surveys)
* The most highly compensated U.S. executive in 1999 was Charles B. Wang, founder and CEO of Computer Associates International Inc. His total compensation package was $650 million, which included $645 million in vested stock grants. (Forbes)
* The federal minimum wage is $5.15 an hour.
* The ratio of top executive pay to the average U.S. worker’s pay is 475 to 1. (Report on Salary Surveys)
* A survey done for the Los Angeles Times by consulting firm Watson Wyatt Worldwide found that the 10 most highly compensated CEOs in Southern California earned at least $12 million each.
* The top three earners in Southern California got their big bucks after being forced to resign. They were:
Mark Willes, Times Mirror Co., $64.5 million
Robert Annunziata, Global Crossing Ltd., $40.5 million
Jill E. Barad, Mattel Inc., $38.5 million
*
Sources: Report on Salary Surveys, BusinessWeek, Forbes, Times research.
Researched by NONA YATES/Los Angeles Times
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