Median CEO Pay Crosses $10 Million in 2013

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Source: Associated Press and Equilar

As income inequality in the U.S. continues to dominate economic headlines, it should come as little surprise that CEO pay is hitting record highs, according to a new Associated Press/Equilar study. While the S&P 500 notched a 30% gain in 2013, chief executives saw their compensation packages soar to the eight-figure mark for the first time, with median pay coming in at a cool $10.5 million, up 8.8% from 2012. Stock rewards alone grew 17% on the year, to $4.5 million.Given the 1.3% rise in salary the average U.S. employee received last year, these latest figures should help keep the pay disparity conversation going strong.

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*CEOs of S&P 500 companies. Source: Associated Press and Equilar

Of course, there’s also plenty of disparity within the rarefied CEO universe, with a $36.8 million compensation gap between just the top and 10th-highest earners on AP’s list. Anthony Petrello, CEO of oilfield-services company Nabors Industries (NBR), was at the head of the earning class in 2013, with a package worth $68.3 million. However, without the lump sum of $60 million Nabors paid to buy him out of his old contract, his income would have come in below the eight-figure median. CBS CEO Leslie Moonves, who came in at number two after topping the list in 2012, made $65.6 million as the company’s shares rose close to 70%.

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*2013 CEO to average worker pay ratio calculated based on AFL-CIO analysis of 350 available companies in the S&P 500. Average worker pay according to Bureau of Labor Statistics data for production and nonsupervisory workers.

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