Executive pay continues on upswing

Corporate profit slumps and relatively flat pay for the average Hoosier didn’t slow executive compensation in 2013 at public companies based in Indiana.

The typical executive took home $923,705 in salary, stock or stock options, incentive pay and perks in 2013, IBJ found in a review of 301 top managers’ pay at 64 companies. The median compensation rose 20 percent from 2012 and doubled since 2006.

CEOs had an even steeper boost, 33 percent, to a median of just over $2 million. The state’s top-paid CEO for the year saw his pay reach $78.7 million thanks to a massive stock grant following an initial public offering.

Pay gains generally fell in line with stock performance, even as the median company profit dropped 7 percent. Meanwhile, the median Hoosier salary, not including benefits, increased less than 1 percent to $31,990 in 2013, according to the U.S. Bureau of Labor Statistics.

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