Emerson CEO David Farr made $12.7 million this year, a 48 percent decline from the previous year. Photo courtesy of wikicommons
Chief Executive Officers’ paychecks have soared over the last two decades, but St. Louis CEOs are making less than their peers.
David Nicklaus of the St. Louis Post-Dispatch reports median CEO pay fell by 5 percent in St. Louis among companies who had the same CEO in 2010 and 2011. Nearly two-thirds of the CEOs earned less last year, even though the majority of companies reported higher profits.
“There has been a very strong realization recently that if performance is down, pay had better be down as well,” said compensation consultant Steven Hall, managing director of Steven Hall and Partners in new York in an interview with the Post-Dispatch.
To be sure, CEO pay remains high. The five highest-paid-St. Louis CEOs made more than $10 million.