Bloomberg News reports that at least 99 companies in the Standard & Poor’s 500 Index (SPX) paid their CEOs at or below what Crystal calls their 'going rate' last year, according to his study, which tracked 177 firms in the index.
Moynihan, 54, was paid $13.1m in 2013, 30% below what Crystal calculated as his going rate.
Chief executives typically receive boosted pay when their company’s performance improves, Crystal said. When performance stalls, compensation doesn’t always follow suit. Some U.S. companies have been able to tie pay to performance better than others - and improvement at those firms is happening at a 'glacial pace', Crystal said.
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