CEOs Top Fat Salaries With Ample Perks

by InvestorPlace Staff | March 15, 2012 9:43 am

When you consider the millions of dollars top-level executives typically receive, the thought of additional allowances to take care of expenses might seem a little galling. But they’re all too real.

According to a USA TODAY analysis[1], a number of CEOs and senior-level executives bring home as much as $84,000 a year in these extra allowances — sometimes as part of larger perks packages — to make payments on things like automobiles, homes and travel.

Here’s a quick look at some executives getting a little extra help:

While his salary dropped almost 25% in 2011 (to a modest $11.4 million), the worth of General Electric’s (NYSE:GE[2]) Jeffrey Immelt’s perks — including car allowance and use of the company aircraft — actually jumped about 15% to $447,191 last year.

American Express (NYSE:AXP[3]) CEO Ken Chenault got a $35,000 cash allowance on top of $365,000 of other perks — on top of his nearly $28 million in total compensation.

Costco’s (NASDAQ:COST[4]) James Sinegal received $81,206 in perks like car allowance and insurance premiums in 2011, on top of his $1.6 million compensation, which was down about half from the previous year.

United Technologies (NYSE:UTX[5]) CEO Louis Chenevert received about $84,000 — including $36,000 for a care lease — on top of almost $30 million in total compensation.

Kraft (NYSE:KFT[6]) will pay John Cahill, a chairman in charge of helping the company’s eventual split, compensation of more than $5 million — including a cash allowance of $125,000, with eligibility for $15,000 per year in car allowance.

Ford’s (NYSE:F[7]) Alan Mulally, who made $22.8 million in 2011, earned about $1.4 million in perks, including personal use of the company’s jet, club memberships, car and driver service and sports season tickets.

Motorola Mobility (NYSE:MMI[8]) CEO Sanjay Jha received a monthly housing allowance of $7,400 on top of his $13 million in compensation.

The USA TODAY report can be viewed here.[9]

— Kyle Woodley, InvestorPlace Assistant Editor

Endnotes:

  1. USA TODAY analysis: http://www.usatoday.com/money/companies/management/story/2012-03-14/ceo-allowances/53538838/1
  2. GE: http://studio-5.financialcontent.com/investplace/quote?Symbol=GE
  3. AXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AXP
  4. COST: http://studio-5.financialcontent.com/investplace/quote?Symbol=COST
  5. UTX: http://studio-5.financialcontent.com/investplace/quote?Symbol=UTX
  6. KFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=KFT
  7. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  8. MMI: http://studio-5.financialcontent.com/investplace/quote?Symbol=MMI
  9. The USA TODAY report can be viewed here.: http://www.usatoday.com/money/companies/management/story/2012-03-14/ceo-allowances/53538838/1

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