Oil execs get monster raises after a ‘very strong’ 2011
How big was your raise last year? John Watson, the CEO of Chevron, got a 52 percent bump in his compensation. That’s a nice chunk of change for anyone, and in Watson’s case, it brought his total yearly take up to about $25 million.
Which is nothing to complain about, unless Watson is comparing his raise to the raise of his rival giganto oil company. In that case, he might be feeling a little bit short-changed.
Because Rex Tillerson, the chief executive of ExxonMobil, got a 21 percent bump in his compensation. Percentage-wise, it’s a smaller increase, but that 21 percent brings his total pay package up to about $35 million. His raise — worth a bit over $6 million — could pay for more than 150 employees at a respectable $40,000 a year, but please, let’s keep talking about how it’s environmental regulation that will “kill jobs.”
Why doesn’t saving the planet pay better? Le sigh.
- Chiefs at Exxon Mobil, Chevron Received Hefty Boosts in 2011 Pay , Wall Street Journal
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