CEO Pay in Connecticut: What Economic Downturn?

by Categorized: Data, Employment, Finance Date:

Ken Gosselin and colleagues on The Courant’s business-news desk have dug into corporate filings to get a picture of CEO compensation at scores of companies based in Connecticut or with significant operations here. The bottom line: your pay may be stagnating, but the folks in the big offices are doing quite well.

The Courant’s report found that nearly half the CEOs saw their total compensation jump 15 percent or more in 2011. The median pay was just under $8 million, and the vast majority received more money last year than the lifetime earnings of a typical employee at their companies.

Discontent with CEO pay prompted new rules requiring companies to give shareholders a non-binding vote on executive compensation. The Courant reports that pay is still rising, but some say the backlash on pay has led to significant changes in the way companies consider compensation.

Below is a list of companies analyzed by the Courant, with the CEO’s name and total compensation. For a database with more details about the companies and compensation, click here.

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12 thoughts on “CEO Pay in Connecticut: What Economic Downturn?

  1. Joe Oberman

    Mr. Romney stated: “Corporations are people.” That is his family, money and vision for the wealthy working class. All the while his wealthy big corporations are lying off American workers, Human Resources will tell you: “this isn’t personal, it’s business.” All Americans think… “United we Stand. ” I will not join the AARP until it stops doing business with Big Businesses (Insurance Companies) who out sources American workers for foreign India workers, etc. If people would stop joining, we would see corporations respect American workers, because… people are standing united against this abuse of corporate power. Hey, this isn’t personal; it’s the only business, big business understands.

    OMG… Ex- Gov. Romney passed into law the Massachusetts Health Care bill, which forces the poor and middle class to obtain health insurance whether they can afford it or not! He taxed to death the state residents to fund the largest tunnel built leading into Boston. Now, the western half of his state’s infrastructure (Bridges and Roadways) are decaying, so commerce is not in its’ best shape.

    When retail gasoline outlets post $5 per gallon before July and thereafter $5.75 per gallon, the wealthy right wing will have crushed the American economy. Stocks will loose what the wealthy middle class has feared most, reaching into their retirement savings.

    Greed has overtaken common sense to do the right things, back when businesses paid taxes and not seek loop holes… example, when employers fraudulently lay off their American workers and then reclassify their job title, same tasks with additional work. The laid off worker has to reapply for their same job at a lower starting wage (up to 50% less). It gets worst for the working class taxpayers; employers receive a new hire tax break on rehires (tempts)!! The government does not record the employers laid off workers vs. new hires or what the laid off worker’s income was vs. the re-hire’s starting wages (same employee trying to keep their job reapplying for the same work). This is employment fraud!!! There isn’t one Federal Judge who will put a stop to this abusive business conduct. Companies are notorious for giving their employees an average cost of living increase only to nullify it by cutting back your work hours or suspending any future wage increases for several years.

    Politicians are just as blind when towns and other states give big businesses property tax breaks for 5 to 10 years just to acquire them. That is morally wrong and should be illegal. After these new companies establish themselves in those towns, they end up hiring very few locals’ vs. relocating their faithfully following employees to the new state’s town. It gets worst, after their tax exemption of five or ten years expires, they threaten to move away if the towns or states don’t extend their tax exemption. Tax breaks for big businesses needs to be outlaw by every State in the Union. This is the only way to break the ‘No Tax Cycle’ of big businesses, which are financially hurting states and towns with their perfected method!

    Who do you think pays for Fire, Police and Teachers services? American home owners, and with the town officials passing the tax burden onto them with higher property taxes, this will financially hurt everyone. In addition to higher mortgages and the higher property tax on the middle class, one can see why the housing bubble crashed in 2009. And, now those towns are worried about the failing infrastructure? Stop the madness because everyone has to pay taxes!!! Especially, businesses that are seeking property tax breaks from states and towns. If every state agreed to stop this nonsense, the US would be in the best financial economic shape and with the greatest infrastructure for commerce.

  2. Farfel

    Brilliant analysis, Joe. All truth. Too bad the Tea Party continues its war on the American people.

  3. Robin Hood

    Unfortunatley this is going to end badly if the greedy do not back off. They should take a lesson from ancient Rome, Rome fell due to greed, nothing more, too much wealth concentrated at the top is not healthy.

    They make 300-400% more than their foreign counterparts by screwing us over, rewriting our laws and tax laws so that everything is in their favor.

    Do a search on “The Bet That Blew Up Wall St” and watch the video, its only 12 minutes and should open some eyes as to what really happened, unless the bill CFMA of 2000 is repealed, no recovery will ever take place.

  4. Fairly Ridiculous of “Non-Profits” in CT($$$ + benefits, including Health ‘Insurance’ companies(BlueCross/BlueShield) and hospitals…

  5. Mike

    I’m amazed that all of these companies with the big paid CEO’s are also the ones that are laying off on a weekly basis. If these CEO’s are making that much, then take a pay cut instead of laying people off. Especially for The Hartford. Liam has done nothing to improve the company and yet he’s still getting a big payday, and still laying off on a weekly monthly basis. You want to cut expenses, cut SR management and start fresh, shareholders would be happy and they would see change take place.

  6. Elmer Fudd

    Let them steal all they can. Then the government should take most of it by taxation. No other way will work.

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