CEO pay approaches record amid workforce shortages

Annual compensation for CEOs in the U.S. is heading for a record amid worker shortages and inflation, The Wall Street Journal reported April 3.

The newspaper examined pay data for more than half the index from MyLogIQ, a provider of U.S. Securities and Exchange Commission compliance and disclosure intelligence products.

Based on the analysis, median pay reached $14.2 million last year for CEOs of S&P 500 companies, compared to a record $13.4 million for the same companies in 2020. Pay increases for most CEOs climbed at least 11 percent.

The Journal said its analysis showed CEOs saw pay increases overall in 2020, but nearly one-third of the CEOs saw their total compensation decline from 2019, and many gave up some pay during the COVID-19 pandemic.

Half the companies also reported that pay for their median worker climbed by as much as 3.1 percent last year, and one-third of companies reported that their median employee pay declined between 2020 and 2021, the newspaper's analysis showed.

The analysis comes as workers across various industries leave their jobs as part of the "Great Resignation." In February, 4.4 million Americans left their jobs, The Washington Post reported March 29.

Within healthcare, hospital CEOs are joining the Great Resignation, with some retiring and others stepping down to take roles at other organizations.

At the same time, hospitals continue to grapple with staffing strain and pandemic-related challenges.

Read more about the Journal's analysis here

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