pay gets ratcheted up by boards of directors stocked with other C.E.O.s who can leverage the same reasoning to justify their own ballooning salaries. Among Disney’s directors is General Motors’s chief executive, Mary Barra, who earned nearly $22 million last year, or about 281 times the median salary of a G.M. Measured by a market in which the S & P 500 index has tripled since 2009 , every chief executive is a managerial genius. They are a surer path to better pay than capital investments, which take a longer time to generate a return. pay raises to employee pay raises, so that workers can share in some of the growth they’ve helped to create.

Source: New York Times May 17, 2019 19:07 UTC