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RATE YOUR PAYCHECK: DO YOU EARN WHAT YOU DESERVE?
In these rough times you probably want to stick to your job. But maybe there's room for salary negotiations? Or: are you on a job hunt? And you want to know whether the payment is fair? We can help you find the answers to the questions that drive your important career decisions.
Find out about your pay: compare your earnings against what
other people get for the same job in the same state with our free,
independent Salary Calculator.
In return, to keep our Calculator updated, share your Salary and Job Information and fill out our anonymous Salary Survey.
WALL STREET BAILOUT and SALARIES of INVOLVED CEO's
President Bush signed into law an historic unprecedented $700 billion plan to rescue the U.S. financial system.
The deal authorizes the Treasury to buy troubled assets from financial institutions. The ceiling on federal insurance for bank deposits is raised from $100,000 to $250,000 and the plan contains a $100 billion in tax breaks. It also limits the compensations for CEO's, barring so-called golden parachute severance payments.
But is that really the case?
"We're not
abrogating contracts," said a Treasury official who briefed reporters a week ago. So a lot of the Wall Street CEO's will probably keep their hefty
paychecks, even if their companies will get government help.
An interesting fact to keep in mind: the bailout inventor, Henry Paulson resigned as the Goldman Sachs CEO in May 2006 to become Secretary of the Treasury. His Goldman-pay in 2005 was $38,8M, making him Wall Street's highest-paid CEO. In 2006 he was awarded an $18,7M cash bonus for half a year of work as the CEO of Goldman Sachs. As Secretary of the Treasury Paulson earns currently $191,300 and declares himself to be shocked about what was going on on Wall Street.
Take a look below and find out what the compensation of these CEO's is. Their
packages vary according to different sources - click on the pay links
to see more information per source.
CEO PAY
Bank
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CEO
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Pay in $
in 2007:
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Pay in $ in 2008:
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Status of bank or CEO
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Lehman Brothers
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Richard Fuld
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NYT: 22,1M
BizJ: 34M
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filed for bankruptcy protection mid-September
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Goldman Sachs
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Lloyd Blankfein
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Bizj: 70M
Rtrs: 100M
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gained Federal Reserve Bank approval to become a bank holding company
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American International Group
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Martin Sullivan
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BizJ: 14M
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CNBC: 47M severance package by resignation in July
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is due to receive an $85 billion bailout from the federal government
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New CEO:
Robert Willumstad
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Rtrs: 1M plus, see under status:
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Rtrs: target annual cash bonus $8M, target annual long term $13M, and a one time 24,5M stock award to vest over four years
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| Merrill Lynch |
Stanley O'Neil
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ChT: 161M retirement package
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John Thain
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BizJ:$17M
NYT:83,7M
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Grdn: $200M payout with two senior lieutenants for less than a year's work
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acquired by Bank of America
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JP Morgan Chase
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James Dimon
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BizJ:28M
Frbs:20,68M
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acquired Washington Mutual in September
acquired troubled investment house Bear Stearns earlier this year
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Morgan Stanley
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John Mack
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BizJ: 1.6M
NYT: 41.4M
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become a banking holding company
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Fannie Mae
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Daniel Mudd
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BizJ;11,6M
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NYT:9,3 M in severance pay
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taken over by the federal government
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New CEO:
Herbert Allison
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?
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Freddie Mac
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Richard Syron
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BizJ:$18M
USATd:$24,5M
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NYT: 14,1M in severance pay
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taken over by the federal government |
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New CEO:
David Moffett
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USAT: 900,000.00, but, read under status:
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USAT: until a broader package can be set.
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Bank of America
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Kenneth Lewis
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BizJ; 25M
Frbs:20.13M
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took over Merrill Lynch
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Wachovia
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Kennedy Thompson
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BizJ:21M
NYT:15,6M
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W: severance of 1.45M and accelerated vesting of 7.25 M in restricted stock
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Rtrs: taken over by Wells Fargo & Co beginning of October
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New CEO:
Robert Steel
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BizJ: 1M and see under Status:
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BizJ; opportunity for a $12M bonus
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Washington Mutual
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Kerry Killinger
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AOL: 14,4M and see under status:
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Frbs: Killinger is since 2003 director of Safeco, a major US insurance company, with a director package of: 204M
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New CEO:
Alan Fishman
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BizJ: 20M
NYT: is eligible for $11.6 m in cash severance and will get to keep his $7.5 m signing bonus after being on the job for only 6 weeks.
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taken over by JP Morgan Chase in September
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