In its annual issue on executive compensation Forbes magazine in 2007, reported that “the chief executives of America’s 500 biggest companies got a collective 38% pay raise last year, to $7.5 billion.” Leading the pack was Steve Jobs of Apple, Inc. with total compensation of $646.6 million. CEO’s pay has been a hot topic for the last couple of years and looks to continue to be in the news. University presidents are now also getting in the news with many of them earning in excess of $1 million annually with expense accounts as high as $700,000.
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