CEO pay soared to new heights in 2020, averaging $15.3m across S&P 500 companies, as asset managers failed to “move the needle” on say-on-pay, a study by Morningstar has found.
According to the report, CEO pay averaged 291 times more that of the median worker last year - a period in which employment became far more "precarious" for large swathes of the US labour force and which also saw a drop in real wages for the average household, Morningstar highlighted. Since 2012, CEO pay has increased by 25% across S&P 500 companies. The primary driver of CEO pay growth is said to be equity-based incentive compensation: options, restricted stock, and performance shares. Asset managers 'largely failing' on ESG voting, research suggests Morningstar's Jackie Cook, dir...
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