STLtoday.com: Recession also taking a bite out of executive pay

Companies have always paid lip service to the principle of pay for performance, but when the economy was strong, the rising tide seemed to lift all yachts.

“I think pay for performance has improved during the last few years,” said pay consultant Joseph Sorrentino, managing director at Steven Hall & Partners in New York.  “It’s not perfect; it probably will never be perfect … but there have been a lot of improvements and changes in programs that have better aligned pay with performance.”