Executive Pay

2008 Great Year for CEOs

Since the financial crisis started, CEOs have emphasized quite a bit how they’ve suffered too. How does that check out? “More U.S. chief executives got pay raises than had their pay cut in 2008, a year when billions in taxpayer dollars went to prop up struggling companies and millions of workers lost jobs, according to an AFL-CIO survey released on Tuesday.” According to the AFL-CIO’s calculation, Citigroup CEO Vikram Pandit made $38 million in 2008. 480 of 946 companies reported CEO raises, while 463 reported cuts. The median CEO salary rose 7 percent in 2008, while CEO perks went up nearly 13 percent.