CEO pay tops $10M-mark

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Tuesday, May 27, 2014

TIME: Median CEO pay hit a record high of $10.5 million in 2013, an 8.8% rise over 2012.

The typical CEO now makes 257 times the salary of an average worker, the AP reports. In 2009, CEOs made an average of 181 times as much. More than two-thirds of CEOs in the S&P 500 received a pay raise, with the heads of banks receiving the biggest hikes, averaging 22%.

The highest-paid CEO, with a total payout of $68.3 million, wasAnthony Petrello of Nabors Industries, an oil and gas drilling company.

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