Tuesday, Aug. 31, 2004 | 9:09 a.m.
WASHINGTON -- Chief executives of U.S. companies that outsourced the greatest number of jobs reaped bigger pay and benefits last year, according to a new study of executive compensation being released today.
Average CEO compensation at the 50 companies outsourcing the most service jobs rose by 46 percent in 2003 from a year earlier, compared with a 9 percent increase for CEOs at 365 big companies overall, the study by the left-leaning Institute for Policy Studies and United for a Fair Economy found.
The two groups' annual "Executive Excess" report said average CEO pay at the "top 50" outsourcing companies was $10.4 million last year, compared with $8.1 million for the 365 companies.
The report noted that after two years of narrowing, the pay gap between CEOs and employees rose again in 2003, to 301:1 from 282:1.
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