The Florida Times-Union: Jacksonville CEO pay rose faster than inflation over past decade
“Long-term incentives focus people on achieving goals over the next three to five years,” said Steven Hall of Steven Hall & Partners in New York, who consults companies on executive pay. “You’ve now created a good alignment between executives and shareholders.”
Like several Jacksonville CEOs, Ward’s salary was stagnant for a few years after the financial crisis. Between 2009 and 2012, his salary was stuck at $1.1 million, and his total compensation dropped from $10.1 million to $8.1 million.
That was common for CEOs across the country, experts said.
“Everybody was feeling a lot of pressure in terms of performance and how the finances looked, and generally most compensation committees said, ‘Let’s be a little conservative on compensation right now,’ ” Hall said.
Now that the economy is on an upswing, Hall thinks CEO compensation will keep rising.
“I don’t see how it stops,” he said. “I think companies are going to continue to make sure they are rewarding their executive team well.”