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February 16, 2001
Executive Compensation Up 16 Percent
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ew study shows that the average annual compensation package for chief executives rose to $10.9 million last year, an increase of 16 percent over 1999, according to a story this week in the New York Times.

The survey, conducted by Pearl Meyers & Partners of New York, gathered information from 51 of the largest public companies in a variety of different industries.

The survey reported that chief executives received generous amounts of stock options, reaching up to an average of 60 percent of their total compensation package. The average executive received $6.5 million in stock options last year, which is 28 percent higher than 1999 levels.

The survey also revealed a move away from performance-based plans such as long-term incentives, which decreased about 16 percent from 1999 and represent only about 12 percent of an average executive compensation package, according to the Times story.

"It certainly represents a landmark in executive pay," Pearl Meyers was quoted in the story. According to Meyers, chief executive compensation has more than doubled since 1995.

To read the complete story, go to http://www.nytimes.com/2001/02/14/business/14PAY.html(Registration required).
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