CEO Pay – Again

Ray Irani, CEO of Occidental Petroleum Corp, took home $460 million in total compensation last year. That’s in US $. I estimate that it would take over 6,000 average workers to equal that pay amount.

It was probably due to bonuses to a large degree, as most oil companies did very well last year. The problem I have with these bonus clauses is that most of the extra profit for Occidental was probably due to factors beyond Ray’s control, like base oil prices.

I guess that Ray owes a big thank you to OPEC.

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