CEOs received 7 percent increase in pay in 2018

Associated Press

NEW YORK

Did you get a 7 percent raise last year? Congratulations – yours was in line with what CEOs at the biggest companies got. But for chief executives, that 7 percent was roughly $800,000.

Pay for CEOs at S&P 500 companies rose to a median of $12 million last year, including salary, stock and other compensation, according to data analyzed by Equilar for The Associated Press. The eight-figure packages continue to rise as companies tie more of their CEOs’ pay to their stock prices, which are still near record levels, and as profits hit an all-time high last year due to lower tax bills and a still-growing economy.

Pay for typical workers at these companies isn’t rising nearly as quickly. The median increase was 3 percent last year, less than half the growth for the top bosses.