Do Maryland’s CEOs make too much?

April 24, 2008

Some of Maryland’s top-earning CEOs are missile makers, energy producers, power tool manufacturers and hoteliers.

Clearly these are complex businesses that require some of the best minds to keep them afloat. Maybe that’s why the men behind Lockheed Martin Corp. (Robert J. Stevens, at left), Constellation Energy Group Inc., Black & Decker Corp. and Marriott International Inc. raked in $61 million between them last year, even as the economy tanked.

That may seem like a large chunk of change for four men, but their average compensation — $15.25 million — isn’t that far off from the average salary of a CEO of a Standard & Poor’s 500 company in 2007, which came out to $14.2 million.

If you’re having a hard time stomaching the puffed up payday these executives get, you’re not alone. Congress has questioned the mentality of paying CEOs oodles of money even when their companies collapse.

If you’re into feeling dwarfed, the AFL-CIO has created a CEO pay database that lets you compare your salary to your favorite company’s top dog.

Once you’ve done that, factor in how much work it would take to run the show at Lockheed or Marriott, and then ask yourself: Do these guys make too much?

DANIELLE ULMAN, Business Writer

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Posted by Jackie Sauter | Filed Under business, executive compensation 

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