Top execs lagged a bit in raises
The median increase in total compensation for chief executive officers (CEOs) was 9.8 percent last year, according to an analysis of the 1980 proxy statements of 26 of the Fortune Top 100 industrial companies done by Towers, Perrin, Forster & Crosy, management consultants. The median increase for other top management executives was 11.3 percent. At the same time, sales increased 15.6 percent and net income 23.6 percent among this group of companies.
In 1978, the median increase for all Top 100 CEOs was 10 percent; in 1977, 12 percent. This downward trend could well continue in 1980, given the current economic climate. If corporate net income decreases, bonuses tied to company performance will probably decline, too.