Money

Average Salary of an American CEO: $10 Million

| by Michael Allen

Even though the United States is still recovering from a major recession [or depression], the average corporate CEO raked in nearly $10 million in 2011.

According to the Associated Press, the average chief executive officer at a public company made around $9.6 million last year.

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This compares to the median pay for a worker in the US in 2011, which was only $39,300.

In their study, the Associated Press analyzed the payouts issued to CEOs of public companies in 2011.

Legislation passed last year allows public company shareholders to vote on proposed CEO pay and give it the yay or nay, but that vote is nonbinding. It is often the board of directors, cronies of the CEO, who decide the actual salary.