“Poor, downtrodden, underpaid CEOs finally have someone they can turn to in their hour of need: compensation consultants.
“…there’s a simple way to boost their pay. Just call in the compensation consultants–the more, the merrier.
- “On average, when a firm adds a compensation consultant, CEO pay rises by 8.5%.
- “Companies with larger boards pay CEOs more.
- “Firms with larger compensation committees tend to employ more consultants.
“Cutting the CEO’s paycheck, the researchers note, doesn’t seem like a very good way to win repeat business or to get hired to consult in any other areas.”
Bring on the consultants – Replay
How CEOs Jack Up their Pay, Kimberly Weisul, Editor & Founder of One Thing New: