Surging after a slight decline during the COVID-19 pandemic, as companies showered leaders with stock awards and cash bonuses, median pay for top U.S. CEOs rose 31% last year to a record $20 million, a new study found.
Chief executives receiving big pay increases included the leaders of tech giant Apple and semiconductor manufacturer Broadcom Inc,, according to the study released Monday by research firm Equilar.
It covered the 100 largest U.S. companies by revenue that filed proxy statements by March 31. The same study a year ago found median CEO pay was $15.5 million, 2% lower than in 2020.
The trends also pushed up the ratio of CEO pay to the pay of companies’ median workers to 254:1 from 238:1 a year ago, Equilar’s study said.
It cited executives like Apple CEO Tim Cook, who received $98.7 million last year, up from $14.8 million in 2020, including a major stock award.
Investors cast 64% of votes in favor of the pay at the company’s March 4 annual meeting, a low level of support.
MacDailyNews Take: Keeping up with the pace of inflation, barely.
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