Study: High Tech CEOS Gets Healthy Pay Increase
A study released Thursday by Ernst & Young, J. Robert Scott Executive Search, and Wilmer Cutler Pickering Hale and Dorr LLP reports that 2006 cash compensation for CEOs in the IT and Life Sciences industries showed a significant pay increase this year. The 2006 Compensation and Entrepreneurship Reports in IT and Life Sciences shows that IT CEOs received a 4.3% increase in base salary, and overall 17% in total cash compensation; Life Sciences CEOs had a similar increase, with a 5.1% base salary increase and 16% rise in total cash compensation. CEOs in the IT industries are now being paid an average of $220,000, up from $211,000 in 2005, with target bonuses of $93,000 for 2006, versus $57,000 in 2005. The firms' study was based on the responses of 1,500 IT executives from 300 companies across the country, and 800 executives from 170 life sciences companies.
posted on Friday, October 27, 2006
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