by Angela Nazworth | May 25, 2012 12:35 pm
Reeling in a $10 million paycheck would probably be a huge disappointment to head honchos at corporate behemoths like Apple (NASDAQ:AAPL), Oracle (NASDAQ:ORCL) and CBS (NYSE:CBS), but for most Americans, it’s an unfathomable amount of moolah.
Based on a new study conducted by The Associated Press, CEOs of typical publicly owned companies on average made $9.6 million in 2011. That figure, which is up more than 6% from 2010 results, is the highest it has been since 2006. That’s 12 times the total of gross income that President Obama reported last year.
Although the study showed a decline in exorbitant cash bonuses that top leaders tend to earn, stock rewards went up. Since stock value and company success often go hand-in-hand, the logic is that stock options will motivate a CEO to boost performance.
Compared to the $137 million Simon Property Group (NYSE:SPG) CEO David Simon made last year, $10 million is chump change. Note: About $132 million of Simon’s salary was in stock options.
In a separate report, the AP conducted some math to drum up a few interesting tidbits on just how much these lofty figures mean to the average American worker. Here are some of the findings:
You can glean more jaw-dropping stats by reading the complete report from the AP.
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