Russ Wiles Arizona Republic Published 9:59 p.m. UTC Jul 30, 2018 Times are good for the men and women who run Arizona’s public companies. In some ways, they’ve never been better. Propelled by a healthy economy, a strong stock market and rising corporate profitability, the chief executive officers of the 35 largest Arizona-based companies earned a median $4.79 million last year, according to an analysis by The Arizona Republic. That’s up from $3.26 million in 2016 and easily the highest statewide compensation total ever. CEO pay totals are among the most visible signs of income inequality around the nation. Next year’s numbers could be even larger given that the pro-business corporate income-tax changes adopted late last year in Washington, D.C., haven’t yet been fully reflected in company financial results. The 47 percent rise in Arizona CEO compensation in 2017 compares with a 4 percent increase for Arizonans overall, as reported by the Bureau of Economic Analysis. Wages in the Phoenix area, where nearly all of the state’s larger companies are headquartered, averaged around $49,500 in 2017, according to Bureau of Labor Statistics. CEO compensation also dwarfs the pay earned by workers at their companies. Public corporations, for the first time, now are required to compare what their top executives earn in relation to median or midpoint pay… Read full this story
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