ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, January 11, 1996 TAG: 9601110101
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
DATELINE: NEW YORK
SOURCE: Associated Press
The heads of financial service companies were the highest paid executives in 1994, but those in the construction industry enjoyed the largest boost in compensation, a survey found.
In those cases and others, much of the money came from bonuses based on performance, said Marc-Andreas Klein, author of The Conference Board report.
``Annual executive incentives, which increasingly link pay to performance, are virtually universal,'' Klein said.
The study analyzed the total 1994 compensation for the five highest-paid executives in 1,070 medium to large companies in 13 different industries. The information was obtained from proxy statements and released today.
In financial services, the median - or middle - compensation was $1.47 million, the highest of the businesses surveyed, but 6.6 percent lower than in 1993.
In other industries, the median compensation for chief executives was: $1.24 million in telecommunications, an increase of 5.8 percent, $929,000 in communications, up 10 percent; $893,000 in insurance, up 4.8 percent; $826,000 in commercial banking, up 6 percent; $695,000 in construction, up 15.2 percent; $675,000 in manufacturing, up 13.4 percent; $582,000 in energy, up 6.4 percent; $575,000 in transportation, up 9.9 percent; $567,000 in retail sales, up 5.6 percent; $507,000 in utilities, up 5.6 percent; and $459,000 in wholesale trade, up 14.3 percent.
Financial services showed the highest median CEO bonus, 255 percent of base salary, while utility executives received the lowest, 38 percent.
LENGTH: Short : 38 linesby CNB