Portland, Maine (Aug. 9, 2004) -- 2003 was apparently a good year for chief executives, particularly for those who worked at S&P 500 companies, according to a survey by independent investment research firm The Corporate Library, which showed that total CEO compensation rose by a median of 15.04 percent last year.
The increase for all CEOs in 2003 was 50 percent higher than the rise seen for 2002, when total compensation rose by only 9.49 percent, according to the report, which noted that the "the double-digit rise in pay shows that calls for pay restraint appear to be being ignored."
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