You know you’re doing something right if you’re one of the top paid chief financial officers in the game.
And a new report via The Wall Street Journal highlights exactly who these moneymakers are, as its analysis looks at data from the Standard & Poor Capital IQ. Here, the summary compensation information for the 12 months that ended June 1, illuminates the S&P CFOs’ salaries, annual bonuses, the value of stock and stock options at the time of the grant, and much more. And a breakdown of the figures show that the median pay for these CFOs has risen 2 percent over the last year to $3.4 million, aligning with the same pay increase from the year before. This reflects the steady growth of the business industry, and also means good things for the lower-level workers.
Though the companies who host the top 5 highest-paid CFOs in the S&P 500 all declined to comment, we’re going to go ahead and highlight them all anyway.
5. Keith Sherin, General Electric
Coming in at lucky #5 is General Electric’s (NYSE:GE) very own Keith Sherin. He scored a pay package valued at $20.2 million last year and also holds the title of company vice chairman. While Sherin’s salary was significantly higher than the median pay for a CFO, it was still only a third of what our #1 CFO made. It is interesting to note that although these pay packages are undoubtedly high, the CFOs’ increased focus on performance for their pay has led them to see less of the perquisites that used to be more common for executive-compensation plans. Though there is obviously not a dire need to provide them with their own company cars or memberships, it is important to note where the focus has shifted, and how the improved performance of CFOs is helping their sales.