CEO pay rose nearly 10% in 2024 as stock prices, profits soared
Many companies have heeded calls from shareholders to tie CEO compensation more closely to performance. As a result, a large proportion of pay packages consist of stock awards.
Compensation
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Government finalizes rule to grant overtime to millions more salaried workers
The move marks the largest expansion in federal overtime eligibility seen in decades. Critics said the regulation could saddle companies with new costs and add to persistent labor challenges.
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Attorneys, businesses await impact of proposed rule to extend OT to more salaried workers
It’s been more than six months since the U.S. Department of Labor announced a proposed new rule to the Fair Labor Standards Act that would extend overtime pay to 3.6 million salaried workers. Whenever the final rule is published, it’s expected to spur immediate legal challenges.
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IPS board approves new teacher contract with average 3% raises
The contract, which Indianapolis Education Association members voted to ratify last month, bumps starting pay in the district from $50,400 to $51,900 in 2023-24, and raises it again in 2024-25.
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Honda to give autoworkers 11% raise following UAW’s labor victories
Employees at Honda’s Indiana Auto Plant in Greensburg are among those who will qualify for raises.
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Articles
‘No tax on tips’ plan part of GOP budget bill. Here’s what it does.
The proposal has widespread support from the public, lawmakers in both parties and employers who believe such a law will bring relief to the working class.
As WNBA popularity climbs, player salaries remain hurdle for league to address
Player salaries have been a longstanding point of contention between the NBA—which owns about 60% of the WNBA and leads CBA negotiations—and women’s basketball players.
Food security, financial stability among challenges for Indianapolis artists, new survey says
In a survey of 148 Indianapolis artists, more than half said they earned less than $10,000 from arts work during the past 12 months.
Player salaries still an issue as WNBA prepares for Monday’s draft
The spotlight on WNBA player salaries got brighter last season as Indiana Fever star Caitlin Clark drew massive attention to the league during her rookie season.
New IU basketball coach DeVries to make $27M-plus over 6 years
Darian DeVries’ annual average salary of $4.5 million would have been fourth among Big Ten Conference basketball coaches last season
Franciscan VNS Home Care pays $3.65M to settle overtime claims
Occupational therapists, physical therapists and registered nurses have received payments from the settlement, while almost a third will go toward attorney fees.
Green fees, fishing sponsorships among gifts to Indiana’s top judges, disclosure forms show
Some judges also reported earning outside compensation for everything from working as a stagehand at Pink and Taylor Swift concerts to serving as a board member for the Indianapolis Indians baseball team.
Westfield seeks audit to determine scope of city employee payroll problem
Westfield plans to conduct a payroll audit going back 17 years after officials recently discovered a firefighter had experienced incorrect payroll deductions since 2009.
Governor’s cabinet secretaries among state’s highest-paid employees
The eight cabinet secretaries serving under Gov. Mike Braun will each take home $275,000 annually for their new positions.
IU eliminates 25 athletic department jobs in preparation for revenue sharing, source says
Indiana University and many other schools are facing an unprecedented dilemma—pay players market value or risk becoming less competitive on the field. In Bloomington, the solution appears to be running a leaner department.
Feds seek to do away with subminimum wages for disabled
Due to a law created in 1938, some employees with disabilities can be paid well below the federal minimum wage of $7.25 an hour.
State employees to get one-time bonus, but no pay raise
Indiana’s incoming dollars have slowed to pre-pandemic levels. Budget writers have urged their fellow lawmakers to tighten funding requests and prepare for a lean two-year cycle.
Judge rejects Elon Musk’s $56B pay package despite shareholder vote
Even without the controversial compensation deal—the highest CEO pay package in history—Musk remained the world’s richest person after Monday’s decision.
Campaign pledges to raise teacher pay face uncertain future at Statehouse
Raising base salaries for teachers was a key focus of Gov.-elect Mike Braun’s platform during the governor’s race, but anxiety about the state budget might be a roadblock.
Judge blocks new Labor Department rule to expand overtime pay for millions
Trade groups argued the move would harm businesses and lead to costs that would potentially force employers to cut jobs or limit their workers’ hours.
Lawrence Township teachers and administrators to receive raises
The Metropolitan School District of Lawrence Township will lift pay for its roughly 1,000 teachers and its administrators.
Indiana’s annual average teacher pay tops $60K, new report says
Nearly all—98%—of Hoosier school districts gave teachers a raise last year, benefitting about 92% of educators statewide, the report indicated.
By city’s own standards, pay rate fails to measure up
Across Indianapolis city-county government, 166 employees earn less than $18 an hour, the benchmark that some groups consider a living wage, including the city’s economic development arm.
CEO pay at public companies unexpectedly fell in 2023
Trends in CEO compensation generally mirror those of the stock market, in part because pay packages for chief executives have largely been tethered to stock performance for five decades.