America’s best paid executives received raises of more than 20 percent in 2011 over the prior year, according to an analysis of CEO pay published by Bloomberg News.
Bloomberg’s list, which examined Securities and Exchange Commission (SEC) data on the compensation of the 50 top earners in corporate America, found that on average the executives raked in 20.4 percent more than in 2010.
Those bonuses are on top of a 27 percent pay increase for America’s top executives in 2010, as incomes finally began returning to pre-recession levels. The jump in executive pay for 2010 was considered one the largest in history, and followed two years which saw marginal declines in executive compensation.
Despite the surging CEO pay, American workers weren’t so fortunate. While the average CEO pay grew out of control in 2010, worker pay increased just 2.1 percent. Median household income also fell more than $3,000 between 2000 and 2010.
The AFL-CIO, America’s largest umbrella group for labor unions, noted that in the 1980s, executive pay peaked at about 43 times the average worker’s pay, but in 2011 CEOs were compensated, on average, 380 times more than workers.
“This double-digit increase in average CEO pay for the second consecutive year shows just how disconnected the top 1 percent is from the 99 percent,” the group said.
This video is from Bloomberg News, published Tuesday, June 5, 2012.
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