The median pay for Minnesota CEOs has gone back over $1 million.
Minneapolis (AP) - The median pay for Minnesota CEOs has gone back over $1 million.
Median total pay had been down or steady in recent years. But last year it rose to $1.2 million, the first time it topped $1 million since 2007.
A Minneapolis Star Tribune report says 71 of the top-paid 100 ceos got raises, with the median increase being 4.6 percent.
Don Lindner tracks executive compensation for worldatwork based in Scottsdale, Arizona. He says executive pay had fallen in previous years because companies weren't meeting their goals during the recession. He says now that companies are improving, it's not surprising that CEO pay is going up.
The newspaper says the highest-paid CEO remains Stephen Hemsley at Unitedhealth Group, with total pay of $48 million last year.
(KFGO file photo)