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.