Magazine content is available exclusively for TIME subscribers.HOW CEO PAY GOT AWAY
It's springtime, which means shareholder activists and Big Labor have taken up their favorite pastime: railing against runaway CEO pay. This year's batch of proxy statements provides plenty of ammunition. The corner office of a typical Fortune 500 company comes with annual total compensation of $7.8 million, an increase of roughly 50% over last year. CEOs make a good 200 times more than the average factory worker, even if you throw in the 3% raise that working stiffs gained in 1996. The pay disparity is five times greater than it was 30 years ago--and it's growing. You can almost hear the...
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