Concerns about executive compensation have been raised by corporate governance scholars and\r\npractitioners over the past 20 years, and the popular press is replete with sensational stories\r\ninvolving what the public views as excessive CEO pay. This paper attempts to go beyond these\r\nreports and determine trends in average CEO and CFO pay from 2006 through 2011. Research on\r\n70 Fortune 500 companies reveals an increase in CEO base pay, while annual bonuses slightly\r\ndeclined. A non-linear trend existed for CEO equity-based compensation. All elements of CFO pay\r\nshowed a more erratic pattern. A discussion and implications for future research conclude the\r\npaper.
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