Executive pay for companies with sales above $1 billion.
Taken from a recent study titled Are US CEOs Paid More? New International Evidence by Fernandez, Ferreira, Matos, Murphy
This was the study’s conclusion, per the abstract
“… we find no significant difference in either level of CEO pay or the use of equity-based pay between US and non-US firms exposed to international and US capital, product, and labor markets. We also show that US and non-US CEO pay has largely converged in the 2000s.”
Based on the chart, which was a static (snapshot) comparison in 2006, there appears to be a rather pronounced difference in level of CEO compensation, globally.
It doesn’t matter whether there is a significant difference, not to me, not at this point. I am moving past rationalism, into the realm of outrage and bias. This is primarily motivated by exposure to excesses exhibited by attendees of the annual World Economic Forum in Davos, Switzerland, following on the heels of the U.S. Presidential Inauguration Ball and related festivities, televised for the masses (me).
The world economic crisis is NOT over, unlike the Davos consensus indicates. If it were, there would not be new record high unemployment in Spain, of 26%, as there is now.