A combination of company profitability and the stock market's bull run turned 2013 into a banner year for both shareholder and CEO earnings, according to a report by global management consultant Hay Group.
Oracle CEO and founder Larry Ellison earned more than $76 million in 2013.
While that's good news for chief executives and investors, the report shows that the year produced little top-line growth. In other words, profitability was often earned at the expense of wage growth for employees and GDP growth globally was stagnant.
However, increased company efficiency made up some of the difference and produced the first material uptick in pay levels for CEOs since 2010. Base salaries and incentive payments increased a combined 3.7 percent in median cash compensation.
It's good to be king
CEO compensation in 2013 was heavily weighted toward long-term performance, comprising 32.3 percent of the total. Shareholders considered performance awards to be the most important part of compensation.
The second-most heavily weighted portion of compensation was comprised of stock options, granted by 62 percent of companies, compared with 55 percent of companies in 2012.
And the winners are…
The median pay of the CEOs of the 300 largest companies by revenue rose 5.5 percent to $11.4 million in 2013, according to the report.
Larry Ellison, co-founder and CEO of software firm Oracle, earned the highest compensation, with a total package of $76,893,601. That's down 18.7 percent from a year earlier.
He's followed by CBS chief Leslie Moonves, with total compensation of $65,358,418, up 11.1 percent from 2012.
For more on executive compensation, read the complete list of the 10 highest-paid CEOs in 2013.
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