CEO and CFO Pay Down in '07

clipped from workforce.com Most chief executives and chief financial officers saw their cash compensation decrease last year, but executives at top performing companies raked in substantially higher cash bonuses, according to an analysis of 2008 proxies by compensation consultant Steven Hall & Partners. Among the 522 companies that have filed proxies this year, the median cash compensation paid to CEOs was $1.23 million, a 4.3 percent decrease from the previous year. CFOs, meanwhile, took home total cash compensation of $550,000, 1.4 percent less than they were paid last year

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Compensation Gap Continues - WorkForce.com

clipped from workforce.com In the survey, conducted among the association’s 259 members, 96 percent said women are paid less than men for comparable work. Nearly two-thirds consider their gender a factor that holds them back in their careers, and many cited a lack of access to decision-makers, mentors or types of assignments critical for career advancement. Entrepreneurs also felt they had limited access to funding sources need to start a business. “The FWA study indicates that women in finance-related careers continue to find themselves hindered in their treatment as equal partners in the workplace,” says Lily Klebanoff Blake, the group’s president. When asked whether certain business conditions were better today than three years ago, only 10 percent of women said issues of pay parity had improved, compared with 20 percent of women in the association’s 2002 survey.

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New Blame Game - Directors Blame Compensation Consultants

A new study revealed that atleast two out of ten directors believe that CEO compensation is "too high".

Find below the interesting study facts from WorkForce.com

Roughly three out of 10 directors believe that CEO compensation is “too high in most cases,” according to a new study by recruiter Heidrick & Struggles and the University of Southern California’s Marshall School of Business.

The study polled 227 directors of U.S. public companies.

The findings of the USC study beg the question: Why are these board members signing off on excessive pay packages? After all, a board’s compensation committee is charged with setting the level and type of compensation given to chief executives.

Ed Lawler, a professor of business at the USC and co-author of the study, says that board members swear it’s not their fault; compensation consultants, they claim, are the major reason CEO pay is so out of control.

“Directors are saying that in the interest of making more money, compensation consultants keep coming up with new incentive products that boards have to buy to stay competitive with their peers,” Lawler says. “So in some ways, yes, they contribute.”

Read the full story from WorkForce.com

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