高管薪酬研究【外文翻译】.doc

1、1外文文献翻译译文原文EXECUTIVEPAYAUTHORLAVELLE,LOUIS，JESPERSEN,FREDERICKF，ANTE,SPENCER，KERSTETTER,JIMSUGGESTTOEDWARDWBARNHOLT,CEOOFAGILENTTECHNOLOGIESINC,THATHISCOMPANYHADALESSTHANSTELLAR2002,ANDYOULLGETLITTLEARGUMENTAFTERSPINNINGOFFFROMHEWLETTPACKARDCOIN1999,JUSTASTHEDOTCOMBUBBLEWASSTRETCHINGTHIN,BARNHOLTHAS

2、SEENTHE6BILLIONSILICONVALLEYTECHCOMPANYLAIDLOWIN2002,SALESWEREDOWN28,THESTOCKWASOFF35,ANDAGILENTPOSTEDA1BILLIONLOSSSOWHENITCAMETIMEFORTHEBOARDTODECIDEBARNHOLTSPAY,HEPAIDDEARLY,WITHA10CUTINHISBASESALARY,TO925,000,ANDNOBONUSORRESTRICTEDSTOCKGRANTFORTHESECONDCONSECUTIVEYEARHISOLDOPTIONSWERENTMUCHUSE,EI

3、THERTHE750,000OPTIONSTHATHERECEIVEDLASTYEARHAVEBEENUNDERWATERALMOSTSINCETHEMOMENTTHEYWEREGRANTEDSAYSBARNHOLTIDONTEXPECTANYTHINGDIFFERENTIFTHECOMPANYDOESNTPERFORM,ISHOULDNTBEGETTINGANYREWARDSSTORIESLIKEBARNHOLTSMARKASHIFTINTHEWAYREWARDANDPUNISHMENTAREMETEDOUTATTHEHIGHESTLEVELSINCORPORATEAMERICAPAYFOR

4、TOPCHIEFTAINSDECLINEDBYDOUBLEDIGITSFORTHESECONDYEARINAROWIN2002,THERESULTOFABRUTALBEARMARKETTHATGUTTEDMUCHOFTHEIROPTIONWEALTHANDROBBEDMANYOFSEVENFIGUREBONUSESTHERESULTCEOPAYISBACKTOWHEREITWASIN1996PAYPACKAGESIN2002DECLINED33,TO74MILLIONONAVERAGE,ACCORDINGTOBUSINESSWEEKS53RDANNUALEXECUTIVEPAYSCOREBOA

5、RD,COMPILEDWITHSTANDARDTHISYEAR,ONLYTWODIDTHENUMBERSWEREALSOSKEWEDBYAHANDFULOFCEOSWHO,INLIGHTOFWEAKPERFORMANCEANDABACKLASHAGAINSTOBSCENEPAY,ELECTEDTOWORKFORNOMINALSUMSORWHOGAVEBACKPARTOFTHEIRTAKESOWHILEAVERAGEEXECPAYPLUNGEDBYATHIRD,THEMEDIANPAYFOROUR365CEOSACTUALLYROSEBY59,TO37MILLIONYES,ITSANINCREA

6、SE,BUTNOTTOALEVELTHATSAPTTOPROVOKEINVESTOROUTRAGEWITHTHEMOSTGARGANTUANPAYPACKAGESSCALEDBACK,SOMEOBSERVERSBELIEVETHERULESHAVECHANGEDANDIMPERIALPAYWILLNOLONGERBETOLERATEDTHATSNOTTOSAYTHATPAYFORPERFORMANCEHASBEENEMBRACEDEVERYWHEREEVENWITHTHEDECLINESOFTHEPASTTWOYEARS,CEOSSTILLEARNMORETHAN200TIMESASMUCHA

7、STHEAVERAGEWORKERBUTCOMPENSATIONEXPERTSSAYTHATFUTUREINCREASESARELIKELYTOBEFARSMALLER,EVENIFA1990SSTYLEBULLMARKETWERETORETURN,ASGOVERNANCE,ACCOUNTING,ANDCOMPENSATIONCHANGESNOWINTHEWORKSEXERTDOWNWARDPRESSUREONPAYSAYSNEWYORKPAYCONSULTANTPEARLMEYERTHEGOLDENERAINEXECUTIVECOMPENSATIONISOVERTHATSLARGELYBEC

8、AUSEOFANEWCONSERVATISMAMONGDIRECTORSKNOWINGTHEYWILLHAVETOJUSTIFYTHEIRCOMPENSATIONDECISIONS,MANYBOARDSARESTARTINGTORESERVETHEBIGBUCKSFOREXECUTIVESWHODELIVEROUTSTANDINGPERFORMANCEQUESTIONABLEPRACTICES,SUCHASREPRICINGUNDERWATEROPTIONSORDOUBLINGUPONOPTIONGRANTSWHENTHECOMPANYSTOCKFALLS,HAVEBECOMEMUCHLESS

9、COMMONDIRECTORSAREREALLYOFADIFFERENTFRAMEOFMINDTHESEDAYS,JACKDOLMATCONNELL,SENIORVICEPRESIDENTFOREXECUTIVECOMPENSATIONATCLARK/BARDESCONSULTINGIHAVENTSEENANYGOINGOUTONALIMBINANYWAY,SHAPE,ORFORMINTHELASTSIXMONTHSIJUSTTHINKTHEYRESCAREDTODEATHWHATSMORE,THELARGEEQUITYSTAKESHELDBYMOSTCHIEFEXECUTIVESHAVESH

10、RUNKINVALUE,INSTEPWITHTHESTOCKMARKETDURINGTHE1990S,STOCKANDOPTIONSBECAMEANINCREASINGLYIMPORTANTCOMPONENTOFCEOPAYTOMEASURETHEIMPACT,3BUSINESSWEEKLASTYEARBEGANTRACKINGCHANGESINPAYRELATEDWEALTH,WHICHINCLUDESTHEVALUEOFALLVESTEDANDUNVESTEDSTOCKOPTIONSANDOPTIONSEXERCISEDDURINGTHEYEAR,PLUSBASESALARY,BONUS,

11、ANDRESTRICTEDSTOCKGRANTSIN2002,ASSTOCKSPLUMMETED,AVERAGEPAYRELATEDWEALTHFORTHECEOSINTHEBUSINESSWEEKSCOREBOARDFOLLOWEDSUIT,DECLININGBY43TO218MILLIONTHEDECLINEINEXECUTIVEWEALTHISLIKELYTOBEFELTFORSOMETIMETOCOMEMOSTOFTHEIRLOWPRICEDOPTIONSHAVEBEENEXERCISED,ANDALOTOFTHOSETHATREMAIN40,BYONEESTIMATEARENOWSO

12、FARUNDERWATERTHATTHEYWILLPROBABLYEXPIREUNEXERCISEDBOARDSAREUNLIKELYTOREPLENISHTHESTOCKPILESASQUICKLYASTHEYDIDINTHEPASTWITHINCREASEDINVESTORSCRUTINYANDTHEPOSSIBILITYTHATCONGRESSMAYFORCECOMPANIESTOACCOUNTFORTHECOSTOFOPTIONSONTHEIRINCOMESTATEMENTS,THETRENDISDECIDEDLYTOWARDSMALLERGRANTSIRAKAY,COMPENSATI

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15、IPLEFEDERALPROBES,INCLUDINGONEFOCUSINGONMEDICAREBILLINGEXERCISEDOPTIONSFORA1111MILLIONGAINATENETSPOKESMANSAIDMANYOFTHEOPTIONSWEREGRANTEDNINEYEARSAGO,ANDCOUNTINGTHEIREXERCISEAS2002PAYISMISLEADINGTYCOINTERNATIONALLTDSDISGRACEDCEO,LDENNISKOZLOWSKI,TOOKHOME71MILLIONBEFOREHISDEPARTUREANDINDICTMENTONCHARG

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18、STTHEIRBONUSESTAURELVOLUNTEEREDTOCUTHISPAYTO1,CITINGTHEFALLOFFINPROZACSALESFOLLOWINGPATENTEXPIRATION,ANDTHEBOARDDIDNTGIVEHIMANYTHINGELSE,SAVEFOR350,000OPTIONSTHATARENOWUNDERWATERSAYSCOMPCOMMITTEEMEMBERSTEVENCBEERINGWEWANTEDTOMAKEASTATEMENTTHATWEWEREREALLYTAKINGAHARDNOSEDAPPROACHTOTHISPERHAPSSEEINGTH

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21、PACKAGESDESPITEOUTSTANDINGPERFORMANCEMANYOFTHEMCANBEFOUNDONOURLISTOFEXECUTIVESWHOGAVESHAREHOLDERSTHEBESTVALUEFORTHEIRPAYBUSINESSWEEKSPAYFORPERFORMANCEANALYSISCOMPARESTHREEYEARSOFPAYBASESALARY,BONUSES,ANDLONGTERMCOMPENSATION,INCLUDINGEXERCISEDSTOCKOPTIONSWITHTHREECALENDARYEARSOFSHAREHOLDERRETURNTHATM

22、ETHODOLOGYHIGHLIGHTSTHERELATIONSHIPBETWEENPAYANDPERFORMANCE,BUTITCANALSOHURTLONGTIMEINCUMBENTS,EVENIFTHEYPERFORMWELLTHATSBECAUSEMOSTOPTIONSEXPIREAFTER10YEARSASLONGTIMECEOSEXERCISELOWPRICEDOPTIONSISSUEDYEARSEARLIER,THEYSTANDTOREAPEXTRALARGEPAYPACKAGESCOLGATEPALMOLIVECOSREUBENMARK,FOREXAMPLE,HASASTRON

23、GRECORDASCEO,BUTOPTIONEXERCISESGIVEHIMALOWGRADEINPAYFORPERFORMANCE5THECEOWITHTHEBESTSHAREHOLDERRETURNRELATIVETOPAYWASRICHARDDKINDER,THEBILLIONAIRECOFOUNDEROFKINDERMORGANINC,WHOWORKSFOR1AYEARANDHADATHREEYEARTOTALRETURNOF113INTHEDEBATEOVERWHETHERTOPEXECUTIVESAREOVERPAID,KINDERCOMESDOWNFIRMLYONTHESIDEO

24、FPAYCRITICSITSATOUGHJOB,ANDITSHOULDBEWELLPAID,BUTITGOTOUTOFHAND,SAYSKINDER,WHOCAPSBASESALARIESATTHEHOUSTONENERGYCOMPANYAT200,000AYEARITSTIMETORESTORESOMERATIONALITYTHECEOWHODELIVEREDLEASTFORSHAREHOLDERS,FORTHESECONDCONSECUTIVEYEAR,WASORACLESELLISON,WHOSEMASSIVE2001HAUL,COMBINEDWITHAPLUNGINGSTOCKPRIC

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26、ALUEOFTHEIRSUNSHARESDECLINEBY92ANDMCNEALYSRICHESARELIKELYTOCONTINUEIN2002,HEWASAWARDED35MILLIONOPTIONSTHEYREUNDERWATERNOW,BUTTHECOMPANYESTIMATESTHEYHAVEAFUTUREVALUEOF24MILLIONASUNSPOKESMANSAIDTHATMOSTOFTHEOPTIONSMCNEALYEXERCISEDIN2002HADLOSTTHEBULKOFTHEIRVALUEANDWEREABOUTTOEXPIREMCNEALY,WHOTAKESONLY

27、A100,000SALARY,KEPTMOSTOFTHESHARESMANYEXECUTIVESWHOFAREDPOORLYINOURPAYFORPERFORMANCEANALYSISDISPUTEDOURMETHODOLOGYSOMEARGUEDTHATINCLUDINGOPTIONEXERCISESUNFAIRLYINFLATESPAYAMOUNTSOTHEREXECSSAIDTHATITTREATEDTHEMASHAVINGCASHEDOUT,EVENIFTHEYHELDONTOTHESHARESSTEPHENHCLARKATSPECTRASITEINC,WHICHRECENTLYEME

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29、THEMTOSTRICTPERFORMANCESTANDARDS,THEIR6BOARDSSIMPLYCHANGEDTHEIRDEFINITIONOFPERFORMANCEATCENDANTCORP,THECOMPCOMMITTEECHANGEDTHEFORMULAFORCEOHENRYRSILVERMANSBONUS,NETTINGSILVERMAN79MILLION,ORABOUT29MILLIONMORETHANHEWOULDHAVEEARNEDUNDERTHEOLDFORMULASILVERMAN,WHORENEGOTIATEDHISCONTRACTTOELIMINATEHISANNU

30、ALOPTIONGRANTSSTARTINGIN2002,SAYSTHENEWFORMULAISBASEDONPRETAXINCOME,WHICHHESAYSISTHEBESTPROXYFORTHEHEALTHANDPROFITABILITYOFTHECOMPANYALTHOUGHAPPLECOMPUTERINCCEOSTEVENPJOBSEARNSASALARYOFJUST1AYEAR,HEDIDGETQUITEABONUSWHENTHEAPPLEBOARDAGREEDONMAR19TOEXCHANGE275MILLIONOFHISUNDERWATEROPTIONSFOR5MILLIONSH

31、ARESOFRESTRICTEDSTOCKWORTH72MILLIONINEFFECTREWARDINGHIMFORTHE80SLIDEINAPPLESHARESOVERTHEPASTTHREEYEARSAPPLE,WHICHDECLINEDCOMMENT,HASSAIDTHEMOVEWASPARTOFANEFFORTTOREDUCEITSOPTIONSOVERHANGTO16,FROM23,OFOUTSTANDINGSHARESSODIDTWOYEARSOFDECLININGPAYCHECKSCUTEXECUTIVECOMPENSATIONTOAREASONABLELEVELBYONEMEA

32、SURE,ATLEAST,ITMAYHAVEBOTHTHEAVERAGEPAYFORALLCEOSANDTHEAVERAGEFORTHE20HIGHESTPAIDCHIEFEXECUTIVESFOR2002ARENOW,ININFLATIONADJUSTEDTERMS,BACKTOWHERETHEYWEREIN1996,THEYEARTHEREALRUNUPINEXECUTIVEPAYBEGANANDALTHOUGH74MILLION,THEAVERAGEPAYPACKAGEFOROURSCOREBOARDCEOS,ISSTILLABREATHTAKINGAMOUNTOFMONEY,BEING

33、THEBOSSISAHARDJOBNEWYORKPAYCONSULTANTALANJOHNSONARGUESTHATTHEDECREASESOFRECENTYEARSCOMBINEDWITHTHEINCREASEDCOMPLEXITYOFTHEJOBANDTHERISKCEOSTAKEONWITHLARGEUNDIVERSIFIEDHOLDINGSINTHEIRCOMPANYSSTOCKHAVERESULTEDINPAYLEVELSTHATNOWROUGHLYMATCHTHETASKATHANDSAYSJOHNSONEXECUTIVESAREMOREIMPORTANTTHANWEUSEDTOB

34、ELIEVEANDTHEJOBISALOTHARDERANDALOTRISKIERITSTRUEEXPECTATIONS,BOTHFORPERFORMANCEANDPAY,HAVEBEENRESETINRECENTYEARS,ASCORPORATETITANSOFAPREVIOUSERAAREONEBYONECAUGHTINTHERECESSIONARYDOWNDRAFTBUTTHATSNOTNECESSARILYABADTHINGAFTERALL,IFSHAREHOLDERSHAVETOACCEPTANEWERAOFSINGLEDIGITGAINS,ITSONLYFAIRTHATCEOSRE

35、ADJUSTTHEIREXPECTATIONSSHARPLYDOWNWARDASWELLTHATSWHATPAYFORPERFORMANCEISALLABOUTTHETOPPAIDCHIEFEXECUTIVES2002SALARYLONGTERMTOTAL7DOESNOTINCLUDETHEVALUEOFUNEXERCISEDOPTIONGRANTSPAYFORPERFORMANCEBOTHENDSOFTHESCALETOSEEHOWPAYMEASURESUPTOPERFORMANCE,BUSINESSWEEKCOMPARESWHATTHEBOSSMADEOVERATHREEYEARPERIO

36、DWITHHOWWELLHEDIDFORSHAREHOLDERSEXECUTIVESWHOGAVESHAREHOLDERSTHEMOSTFORTHEIRPAYTOTALPAYMILLIONSSHAREHOLDERRELATIVEOFDOLLARSRETURNINDEXMILLION1RICHARDKINDER,KINDERMORGAN00113712WARRENBUFFET,BERKSHIREHATHAWAY10301293DANEMILLER,BIOMET13631224BRUCEDOWNEY,BARRLABORATORIES31211995JAYGELLERT,HEALTHNET29166

37、906MEGWHITMAN,EBAY158737RICHARDCARRION,POPULAR1831738JOHNMACKEY,WHOLEFOODSMARKET32127719DONALDGRAHAM,WASHINGTONPOST20376910TERRYSHEPHERD,STJUDEMEDICAL381596910SALARY,BONUS,ANDLONGTERMCOMPENSATION,INCLUDINGEXERCISEDSTOCKOPTIONS,FORTHE2000,2001,AND2002FISCALYEARSSTOCKPRICEONDEC31,2002,PLUSDIVIDENDSREI

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39、ICROSYSTEMS5319201516JOHNCHAMBERS,CISCOSYSTEMS15767601557DENNISKOZLOWSKI3,TYCOINTL23825601858ROBERTBENNETT,LIBERTYMEDIA14916802149HENRYSILVERMAN,CENDANT184561021410IRWINJACOBS,QUALCOMM674790307DATASTANDARDPOORSEXECUCOMPTHEMCGRAWHILLCOMPANIES,COPYRIGHT2003SOURCELAVELLE,LOUIS，JESPERSEN,FREDERICKF，ANTE

40、,SPENCER，KERSTETTER,JIMEXECUTIVEPAYJBUSSINESSWEEK，200338298690译文11高管薪酬研究作者拉维尔路易斯等建议安捷伦科技公司的总裁爱德华巴恩荷特，他的公司的情况差于2002年，你就会发现一些争论。自从它在1999年脱离惠普公司之后，正如网络公司泡沫开始减退后，巴恩荷特见证硅谷技术公司被60亿美元击倒，在2002年，业绩降了28，股票下降35，安捷伦报道了10亿美元的损失。这样，到了董事会该决定巴恩荷特薪水的时候，他付出了巨大的代价，扣除了10的薪水只余925000美元，并且持续两年没有奖金或是限制性地给予。而且他被赋予的权力没有更多用处。

41、去年他接受的750000个选择已经被潜水自从他们认为是理所当然的时刻开始。巴恩荷特说“我不期望有任何的不同，如果公司不改革，我可能拿不到任何奖励。”像巴恩荷特在奖励和惩罚上改变的例子在美国公司处在最高的水平。在2002年高管报酬减少2位数的情况比比皆是，导致残酷的熊市削减大部分可选择的财富并且减少了大量7位数的奖励。这样的结果是CEO的报酬水平与1996年的情况相当。根据美国商业周刊的第53届高管薪酬的排名，结合贫穷EXECUCOMP数据库的标准，2002年的全部报酬减少了33，减少至平均740万美元。“薪酬委员会正在采取一个非常慎重的高管薪酬补偿措施”，丹L戈德威瑟说，一位森林实验室公司长期

42、森林CEO霍华德所罗门只收到一份微薄的工资排除显著的表现，即使上升的股票帮助他在2001年行使期权实现了较大的收益。当然，平均数可能有迷惑性。真正被挤出的是多余的最顶级的标准。在去年的排行榜上，甲骨文公司的CEO，劳伦斯埃利森在运用一项隐蔽的措施后创历史新高获得7061万美元。今年，片酬最高的执行长打卡上班才1949万美元。去年，在前7高层的工资分数打破了1亿美元的障壁,今年,只有两所。因此，虽然平均工资下跌了三分之一，为我们的365位CEO的薪酬实际增长59，至370万美元。是的，这是一个增加，但不是一个级别的容易引起投资者的愤怒。随着最庞大的薪酬缩减，一些观察家们认为规则支付和帝国支付不能

43、再容忍。这并不是说，对于绩效工资已经接受。即使在过去两年的跌势，首席执行官的收入仍然像普通工人多200倍以上。但专家说，未来的补偿增加很可能是少得多，即使20世纪90年代风格的牛市当中返回治理，会计和工作薪酬的变化对薪12酬施加压力。纽约薪酬顾问珍珠迈耶说“行政赔偿的黄金时期已经结束。”这主要是因为新保守主义董事知道他们必须证明自己的赔偿决定，许多董事会已经开始积聚能提供卓越绩效的主管。重新定价问题的做法，如当公司股票下跌时对水下期权或期权加倍，已变得很少见。“这些天董事们真正不同的心态，”高级副总裁杰克康奈尔，在克拉克行政咨询会议上的演讲时表示，“我还没有看到任何事情以任何方式，或在过去六个

44、月的形式进行，我只是觉得他们害怕死亡。”更何况，大多数首席执行官持有的股份价值与股市同步缩水。在20世纪90年代，股票和期权作为CEO薪酬成为越来越重要的组成部分。为了衡量影响，商业周刊从去年开始跟踪与薪酬有关的财富，其中包括所有权及未定股票期权，加上基本工资，奖金和限制性股票授予的变化。2002年，当股市暴跌，在商业周刊记录的CEO财富的平均薪酬也随之下跌，由43下降到2180万美元。执行财富的下降很可能是持续一段时间来的现象。其低价格的大部分股权被行使，以及那些仍然存在很多40，据估计，现在这么远的水下，他们可能会过期行使。议会是不太可能补充库存，就如他们过去一样。伴随着审查和增加投资者的

45、可能，美国国会可能会迫使公司占了他们的收入报表选项的成本，决定性小规模化的赠款是趋势。艾拉凯，赔偿华信惠悦全球实践总监说，如果要求公司会计监管机构数作为开一项支，与8的年均增长20世纪90年代后期相比，未来几年的高管薪酬增长将低于10。即使在不景气的年份，CEO不可能太落魄。在2002年仍有很多人设法拉动巨大的开支。处在薪酬金字塔的顶端是阿尔弗雷德勒纳，MBNA公司的前首席执行官，在十月逝世。他行使了一亿九千四百九十零万美元的富矿选择权利，使他成为我们的记分牌上薪酬最高的首席执行官。其他收入最高的公司高层管理的一些即使他们或他们的公司丑闻陷入壮举。第2号的JEFFREYCBARBAKOW在特尼

46、特医疗保健公司，公司面临多重联邦调查，其中一个重点医疗帐单是1110万美元收益行使。一个发言人说，特尼特的许多选项被授予在九年前，2002年的薪酬是误导。泰科国际有限公司的总裁丹尼斯科兹洛夫斯基，在临行前把销售和逃税罪名7100万美元带回家。科兹洛夫斯基的工资大部分是67美元的限制性股票。该公司表示，它正寻求收回对科兹洛夫斯基的所有支付。对于一些老总，即使2002年是不公平的一年，奖金和期权的受害者业绩不13佳。持续到第二年，商业周刊的CEO记分牌可以看到他们有超过40总工资下降。股票价格暴跌，不可能为理查德费尔班克在第一资本金融公司，迈克尔艾斯纳在惠普。除其他外，在沃尔特迪斯尼，查尔顿学菲奥

47、莉娜行使水下选项。方法并非是唯一的问题。理查德H布朗在电子数据系统公司，SIDNEYTAUREL在礼来，首席执行官和其他的都失去了他们的奖金。TAUREL自告奋勇地扣除他的报酬至1美元，理由是在专利到期后销售下滑，董事会并没有给他任何东西，除了35万的选择权在水下。比赛委员会委员史蒂芬说“我们想作一个声明，我们真的在采取强硬措施解决这个”。也许看到墙上的笔迹，其他高管也给回他们大部分薪酬。在思科系统公司的钱伯斯和在SIEBEL系统公司的托马斯MSIEBEL拥有成千上万的被放弃的权利高级职员优先认股权，虽然很多当时是在水下的。即便如此，钱伯斯和SIEBEL表现不佳，根据商业周刊为期三年的工资按业

48、绩分析，主要是由于前几年的大演习，在过去三年科技股滑跌。IBM的彭明盛让他的董事会削减了其2003年的奖金，并用它来提供20位高管基于业绩的奖励。彭明盛说“如果你说你是一个团队，那么你必须是一个团队。你得往前走，对不对”尽管其他CEO们表现出色，准备了一揽子适度的计划。其中许多可以在最佳值列表中发现我们的管理人员是谁给支付给他们。商业周刊比较了性能分析，三年的工资基本工资，奖金和长期补偿，包括已行使的股票期权三年的股东回报。这种方法突出了薪酬与绩效的关系，但它也伤害了长期任职者，即使他们表现良好。这是因为大多数选项到期后10年。由于长期的CEO行使低价选项发行年更早，他们可能获得超大薪酬。高露

49、洁棕榄有限公司的鲁本马克，例如，有良好的记录，作为首席执行官，但给他绩效工资中的一个低报酬。以最佳的股东回报率相对支付的CEO是理查德金德，金德摩根公司的共同创始人之一的亿万富翁，工作1美元一年，并且获得一个为期三年的113总回报。在高层管理人员薪酬是否过高的辩论中，金德坚定地归结关于薪酬评论方的言论。“这是一个艰巨的任务，它应该很好地支付，但一发不可收拾，金德说，一位在休斯顿的能源公司获得20万美元一年的薪金。“现在是时候来恢复一些理性。”14甲骨文的埃利森的薪酬至少是股东连续二年的收入，从巨大的2001年来看，股票价格暴跌与合并，几乎保证按业绩比较低工资。一位甲骨文发言人表示，埃里森拒绝发表评论。埃里森在其他高管试图角逐对象的名单上，尽管表现不佳，但比其他高管赚的更多。其中包括太阳微系统的斯科特麦克尼利。三年来，他获得5310万美元，而投资者看到太阳微系统的股价下跌了92。而麦克尼利的财富很可能会继续下去。2002年，他被授予350万美元的奖金。但该公司估计，他们有一个未来的价值2400万美元。太阳微系统的发言人说，麦克尼利在2002年行使认股权大部分已失去了其价值的大部分，并即将到期。麦克尼利，只需要10万美元的薪水，并且保留了大部分股