TIME compensation

25 CEOs Who Are Perfectly Happy Making a $1 Salary

HP CEO Meg Whitman Visits China
ChinaFotoPress—ChinaFotoPress via Getty Images

In the business world, there’s a sneaky version of success that goes beyond the seven figure salary: It’s the one figure salary.

Members of the $1 salary club earned just enough money in salary in 2013 to afford one McCafé from the McDonald’s dollar menu.

This phenomenon started in WWI and WWII, when executives sacrificed their salaries to help fund the wars, but were required to accept some form of compensation because U.S. law forbids the government from accepting work from unpaid volunteers.

But why would anyone today trade in a seven-figure-plus salary for one measly dollar?

Most dollar-a-year execs have received (or continue to receive) option awards which increase in value over time, as well as other forms of compensation—like bonuses and non-equity incentive plans. Such forms of compensation are based strictly on company performance, and not on a guaranteed yearly paycheck. This means executives can align their personal financial interests with company interests.

So who are the executives who can afford to collect a $1 a year salary?

Research engine FindTheBest scoured the web to find out, compiling compensation information from the SEC on thousands of executives from publicly traded companies across dozens of industries.

Following is the resulting list of 25 CEOs, Chairmen, and other top execs who banked $1 salaries in 2013.

Among the richest members of the $1 Salary Club are Oracle’s Larry Ellison (net worth $50 billion), Google’s Larry Page (net worth $31.2 billion), and Facebook’s Mark Zuckerberg (net worth 27.9 billion). Their wealth is so closely tied to their companies’ stock, that receiving a few hundred thousand dollars extra wouldn’t make a dent.

Of the 25 execs above, Larry Ellison made the most last year ($79.6 million), mostly due to the $76.8 million he received in option awards. Mark Zuckerberg also concluded the year with more than $1 in his pocket, making $653,165 through “other compensation,” compensation that does not fit into the SEC’s other defined categories of compensation.

Unlike Ellison and Zuckerberg, whose total compensation surpassed $1 in 2013 despite their salaries, Larry Page’s total compensation stayed put at $1. But that’s not to say he didn’t make money—Google’s stock price rose by 56 percent last year.

Two women also made the list, Meg Whitman (CEO of Hewlett-Packard) and Susan K. Barnes (CFO and Executive VP of Pacific Biosciences). Whitman, previously CEO of eBay, earned $17.6 million in 2013 despite her miniscule salary. Like Ellison, Barnes earned most of her money last year ($436,509) through option awards.

Among the executives who, like Larry Page, received only $1 in total annual compensation in 2013, are fellow billionaires Carl Icahn—Chairman of the Board of Icahn Enterprises whose net worth is $23.9 billion, and Richard Kinder—CEO and Chairman of the Board of Kinder Morgan Management whose net worth is $9.9 billion.

MONEY

Career Lessons from LeBron James and Carmelo Anthony

Miami Heat LeBron James and New York Knicks Carmelo Anthony
Miami Heat forward LeBron James is returning home to the Cleveland Cavaliers and New York Knick Carmelo Anthony is staying in New York. Brad Penner—USA Today Sports via Reuters

There is a lot more to relocating for a job than a bigger paycheck

Fair enough: There’s a limit to what mere mortals can learn from the career decisions of people who can routinely hit three-pointers under pressure or jump over other world-class athletes to dunk basketballs.

But a closer look at the high-profile decision-making process of NBA superstars LeBron James and Carmelo Anthony over what teams they’ll be playing for next season reveals that they grappled with questions that many of us face when deciding whether or not to take a new job.

Should you always take the higher salary?

If salary were the only factor when Anthony was weighing whether to stay with the New York Knicks or move to a new team, his decision would have been clear days or weeks ago. After all, the Knicks offered Anthony more than $120 million over five years to stay in New York vs. “just” $96 million from the Los Angeles Lakers and $75 million from the Chicago Bulls for four-year contracts. That comes out to $25.8 million a year to stay with the Knicks, $24.3 million to join the Lakers and $17.5 million to be a Bull.

But other factors apparently gave him pause. The Bulls are considered the team with the best shot at a championship next year, so a move to Chicago could have boosted Anthony’s chance at post-season glory. And Los Angeles might have provided better job opportunities for his budding actress wife, La La Anthony. In the end, it appears that money ultimately swayed Anthony to stay with the mediocre Knicks.

And while we don’t yet know all the details behind LeBron James’ decision to go to the Cavaliers, staying in Miami could have meant a pay cut if the team needed to make room for more high potential players.

In any case, it’s worth considering the possibility that joining a company that’s on a faster track or at top in its industry can pay off in the long run, even if it means less money upfront. Rosemary Haefner, VP of human resources for jobs site CareerBuilder, says you should make sure you see a clear opportunity to add skills that will advance your career or otherwise help you move you up the ladder faster — or that you’ll be able to accomplish something that will make you more attractive to future employers. That could mean a chance to add management experience to your resume, work closely with the top brass, or be part of cutting-edge projects.

Should I consider cost of living?

If you consider moving for a new job, take care that a higher cost of living in the new city won’t eat up any additional pay, warns Erol Yildirim of the Center for Regional Economic Competitiveness, which publishes a quarterly cost of living index for the U.S. “There’s a lot more than income that affects your standard of living,” he says. That may not be such a big deal for someone like Carmelo Anthony, even though New York City is regularly at the top of the CREC list, with the after-tax cost of living in Manhattan at twice the national average.

Housing is the biggest expense (for most people about 30% of income goes to home-related expenses). The index also takes utilities, groceries, transportation and health care into account. You can use salary data provider Payscale’s cost-of-living calculator, which will not only show you the cost-of-living difference, but how much you need to make in the new location to maintain your current standard of living.

Do taxes matter?

Taxes can take a big bite out of your income. You can’t escape taxes altogether, of course, but some places are friendlier than others. LeBron James, for example, is leaving one of just seven states that has no income tax. In New York, Anthony will be in one of the highest taxing states in the U.S. New York City is one of the few cities in the U.S. that has its own income tax and New York state has the eighth highest state income tax rate. Beyond income taxes, you should factor in property taxes and sales taxes too. You can find details for taxes on income, property and retail sales for every state at the Tax Foundation.

Is job security more important than a bigger paycheck?

A Knicks deal allows Anthony, now 30, to lock in a high paycheck for five years, one more than he’d been offered in either L.A. and Chicago. He might not command nearly as much as a 34-year-old free agent as he does now, so staying with the Knicks offers financial security. The lesson for the rest of us? If you’re at the peak of your career – for most people that’s in their 40s and 50s – this is the time when you have the highest earning power. If you’re valued at your firm, trading stability for a new job where you need to establish yourself is a risk. “When you’re the new guy, you may be more vulnerable if rocky times hit,” says Haefner.

What does a new job mean for your family?

Family was definitely a factor for LeBron. He told Sports Illustrated that returning to his hometown was always his intention: “I have two boys and my wife, Savannah, is pregnant with a girl. I started thinking about what it would be like to raise my family in my hometown. I looked at other teams, but I wasn’t going to leave Miami for anywhere except Cleveland. The more time passed, the more it felt right.”

Anthony publicly said his decision also hinged on how it would affect his family. Beyond his wife’s opportunities in Hollywood, the Anthonys have many ties to New York. La La Anthony grew up in New York and Anthony spent his early years there before moving to Baltimore. Moving their seven-year-old son Kiyan to a new city would have been another challenge. In an interview with VICE Sports, Anthony said

“My son goes to school and loves it here (in New York). To take him out and take him somewhere else, he would have to learn that system all over again. I know how hard that was for me when I moved from New York to Baltimore at a young age, having to work your way to try to make new friends and fit in and figure out the culture in that area.”

Talk about what relocating would mean for your family. Will your spouse be able to get a comparable job? If you have children, what are the schools like? How will the kids feel leaving friends behind? Is the lifestyle a good fit for everyone? How far will you be from your extended family?

Relocating will have a major impact on your professional and personal life. The more factors you weigh, the better the decision you can make, whether or not you make a multi-million dollar salary.

 

MONEY Careers

The 3 Things You Must Know About How Your Employer Sets Salaries

Row of people with labels announcing their salary.
Knowing exactly what your peers make isn't as important as knowing how your employer sets the range for your position. Tetra Images—Getty Images

Whether or not you think everyone should know how much everyone else makes, there’s one area where discussions around salary should be absolutely transparent.

Recently, the idea of salary transparency has been bubbling to the forefront—from President Obama signing an executive order in April prohibiting federal contractors from retaliating against workers who discuss their pay to companies like Buffer posting their employees’ salaries publicly for all to see. The same arguments come up every time this topic makes headlines: On one side are those who argue that employers are the only ones benefitting from secrecy; on the other are those who fear that complete openness around compensation could lead to jealousy and infighting among employees.

Whether you think it’s a fantastic or horrible idea for everyone to know the size of everyone else’s paycheck, there’s one area where I think discussions around salary should absolutely be transparent: discussing your own pay with your own employer.

If every individual employee had a better understanding of how their employers made decisions about compensation, there would be far less discontent around the subject of salary—assuming, of course, that the employers have a good and fair compensation strategy. (To be clear, fair doesn’t necessarily mean equal pay for everyone working in a particular role. A number of factors can, and should, impact an individual’s compensation: years of experience, education/training, skills, and performance, among them.)

There are three things everyone should understand about their own pay and that I hope employers are willing to discuss:

1) How your employer sets pay
Most employers use compensation data of some kind to set salary ranges for the various roles within the organization. However, most employees don’t know where that data comes from. It’s a good question, and one that more people should probably be asking. Next time you’re discussing your pay (or chatting up your HR person at the water cooler), just ask. If they can’t give you an answer, that may be reason for concern. You want to know your employer is using valid data to set appropriate pay ranges and not pulling a number out of a hat.

2) Where you fall within the salary range for your specific position
Not knowing if you’re being paid fairly can breed discontent. According to a recent study “pay secrecy might also hurt your work performance and prompt top talent to look for new jobs.” If everyone understands the full salary range for the given role, it’s easier to have open, honest conversations about why you fall where you do within the range. Even if your employer isn’t willing to share the range they’re using, do your own homework and make sure you have a sense of the salary range for your position. You can even share your findings with your employer so that they can let you know if it’s similar to the range they’re using. If it’s different, it’s another opportunity to ask about what data they’re using so that everyone is working off the same numbers.

3) What you can do to move up in the range
If you’re at the 50th percentile or above within the range for your position, you’re doing pretty well comparatively. But, if you’re below the 50th percentile, it might be time to ask for a raise. If you’re already a top performer, pull together a list of recent accomplishments that show how you’ve contributed to the company, and ask to set a time to discuss your pay with your manager. If the feedback is that you aren’t quite working at the level they’d consider for a raise, ask your direct manager what goals you should be working toward to make it to that next level. Keep the conversation focused on your career path and your desire to contribute more to your organization. A good manager will be more than willing to talk about how you can get there.

__________

Lydia Frank is editorial director at PayScale.com, a site that provides on-demand compensation data and software to employees and employers.

TIME Business

This Chart Tells You if You’re Being Underpaid

Shoulda been a doctor

If you ever wondered why your parents really wanted you to be a doctor, this chart serves as a good explanation.

Redditor Dan Lin took data from the Bureau of Labor to create a color coded, (very) long chart that breaks down how much different industries pay. Health care-related professions (displayed in a subtle fuchsia) dominate the top of the list.

The chart also provides interesting information on whether you’re being underpaid in your field–you know, just in case you needed some fodder for leaning in to your boss this week. Click to enlarge for a closer look:

(Vox)

MONEY Careers

How to Tell Your Spouse You Want to Take a Pay Cut

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Corbis

You've had it with your job. You're ready for a more fulfilling career. Now the hard part: Telling your spouse that you'll have to live on less. Here's what to say.

You’re ready to quit your miserable job and do something that you know will make you happier. But there’s a catch. You’ll need to take a major pay cut, and you haven’t talked to your spouse about it yet.

“Assume that it’ll be a very anxiety inducing conversation,” says financial psychologist Brad Klontz. “Money conversations are critically important for the health of a relationship, but they’re minefields.”

To avoid a bruising argument over your lower-paid gig, approach the topic this way:

YOU SAY: “I’m stressed out and unfulfilled at work, and I’m worried I’ve been taking it out on the family. I’m seriously considering switching careers, and I want your input.”

First things first: If you’ve been coming home from work cranky every evening, your spouse may have realized long ago that you hate your job. “This may be a more welcome conversation than you think,” says financial therapist Amanda Clayman. “If you’re not happy in a job, this may not come out of the blue.”

Make sure your spouse understands you’re opening a negotiation, not simply making a declaration that you’re going to quit. This is a decision that affects your whole family, so emphasize that you want to hear your spouse’s thoughts. “You need a collaborative attitude,” says Maggie Baker, a financial therapist and author of Crazy About Money. “Make your partner feel like they’re part of the solution.”

YOU SAY: “I’ve looked at our budget, and I’ve noticed some costs I think we could cut to make up for the shortfall.”

Come prepared. Before talking to your spouse, take an honest look at your budget and assess where you (or the family) can afford to cut back. “The best thing to do is to think through the solution beforehand,” says Klontz. Could you spend less on meals out, for instance? Could your next car be a two-year-old certified preowned vehicle, not a new model?

Spell out the sacrifices you’re willing to make, like taking on part-time work or slashing your personal spending. “If there are ways this can have more of an impact on you, you’ll probably get less resistance,” adds Klontz.

Related: Six simple steps for building a better budget.

YOU SAY: “Before I leave my job, let’s test out these cutbacks for a few months.”

Before you quit, create this stricter budget. Then give your thriftier lifestyle a test drive and see if you can stick to it. “If you have this discussion well before you change jobs, you can practice a less affluent lifestyle,” says Baker. “By play acting it in that way, you can see if it’s doable.”

YOU SAY: “This might be a tough adjustment now, but once I switch careers I’ll have a good chance at earning more down the road.”

Taking a short-term pay cut for a new job can be a smart long-term financial decision, especially if you’ve topped out in what you’re doing. “Sometimes it’s good professionally to make less money,” says Neal Frankle, a certified financial planner and author of Why Smart People Lose a Fortune. That’s especially true if you have many more earning years ahead of you (and fewer big-ticket financial obligations, like kids in college). “Strategically, the younger you are, the more it could make sense to make less money.”

In your new career, you might find it easier to move up the leadership ladder, or perhaps you have the chance to join a startup with high growth potential. Alternatively, look into whether the lower-paying job might have better benefits. If you can argue that your drop in pay will be temporary—or evened out by other factors—make that part of your case for quitting.

YOU SAY: “I’m sure no one in the family will mind if I’m less grouchy around the house.”

Play up the positive. Leaving a job that makes you miserable will probably rub off on the rest of your family. You might have more free time to spend with them, or at least you could be more relaxed and happy after you get home from work. Figure out what’s in it for them, and mention that too.

Keep in mind that seeing you happier in your career will probably make your spouse happy too. “In a healthy relationship, one partner’s happiness and well-being has value in the family,” says Clayman. “It’s not all about the money.”

Read more on money and relationships:

7 Ways to Stop Fighting About Money and Grow Richer, Together

Common Problems, Uncommon Solutions: How Seven Couples Have Tackled Their Money Challenges

When She Makes More: How to Level the Playing Field

 

TIME Religion

Meet Riverside Church’s First Female Pastor

Dave Cross

Rev. Amy Butler talks about feminism, her salary, being a single mom, and what it means to lead one of the country's most storied congregations.

Update added on June 12, 2014 at 4:15 p.m.

Rev. Dr. Amy Butler, who has been the pastor at Washington, D.C.’s Calvary Baptist Church for the past eleven years, was chosen Monday to be the first female senior minister at The Riverside Church in New York City. The Riverside Church has been a pillar of faith and activism in New York since its first service in 1930, with its famously diverse congregation participating in political issues ranging from LGBTQ rights to immigration. TIME sat down with Rev. Butler to talk about her upcoming transition.

Your emphasis at Calvary has been on unity and coming together, but Riverside’s congregation is more than twice the size of Calvary’s, and it’s interdenominational. Are there challenges that you think will come with that and do you have a plan for how you’re going to approach the new congregation?

There are many challenges ahead, and this is a diverse community. If you think about doing and being a diverse community together, this is the perfect place to try to do it because all of the pieces are there. And this is a community that has valued diversity for all of its history and, as we all do, struggled with what that means in day-to-day life. I’m really looking forward to trying to figure out how we can make that diversity into an asset and something that is really a compelling and attractive expression of our community. Diversity doesn’t always have to be hard and terrible. It’s a challenge, always it’s a challenge, but it’s a great opportunity for modeling what the church can be in the world.

Not only is the Riverside Church diverse, but also it is politically active. What do you see as the intersection of religion and politics, and what do you hope to do with that at Riverside?

The role of the church in society is changing very radically. Fifty years ago the church had a loud and compelling voice at many of these conversations. Increasingly, the church is becoming marginalized. And I think that at this point in history it’s a great opportunity for us as people who claim the message of Jesus, the gospel of loving God and loving each other, as this radical and prophetic place where we can be the church together. So I think the opportunities are boundless and endless, and I think increasingly we’re going to be feeling opportunities to be prophetic and speak truth to power in ways that we may not have had when we were part of the group sitting around the table.

You wrote in an Associated Baptist Press column in April that, “The church is not as vibrant in our society as it once was. In fact, the question of whether church as we know it is viable for the long term is a question begging to be asked.” So I’m going to ask it – do you think the current institutional model is viable? What are you going to do at Riverside to make it relevant and sustainable?

I think the church of the past is not the church of the future, and I think we don’t know what the church of the future is yet. I think the church is not going away because people are looking for community and people are looking for a place to ask the big questions. And if the church can provide a place in which both of those things are present, it’s going to be a place where people are going to want to come and be part of it. So I don’t know what the future of the church looks like, but it’s going to look different. I think at the Riverside Church we could be a place where some of those future expressions of church start to emerge, and that’s one of the things I find so exciting about this opportunity.

You’ve been open about your own struggles with faith. How do you navigate the relationship between your own personal questioning and your role as a leader of the church?

I think traditionally people have expected clergy to be the ones that have all of the answers. Here’s the truth: nobody has all of the answers. We’re all on this journey of figuring out what it means to be human in this world and to understand God’s role in our lives and in the world at large, and I think questioning together is a much more powerful experience. That’s the kind of leadership approach that I take.

I have to ask after the controversy over your predecessor Rev. Brad Braxton’s resignation [related to his more than $450,000 compensation]. What is your salary going to be?

I’ve always heard that it’s not polite to talk about what you make, but I’ll be earning a salary of $250,000. It’s quite a generous salary and it presents an opportunity for me to think about how to be a good steward of the tremendous resources that I am becoming a recipient of. And it’s also a good model for the church as a whole. The Riverside Church has many, many resources, so how do we, as a faith community, think about how to best be stewards of that tremendous gift?

What do you see as the biggest fiscal challenges ahead for Riverside?

I think the future of the church probably does not include building big cathedrals like this in major cities. But places like the Riverside Church are a gift, and can be a gathering place for people who are seeking God in the middle of a very busy and powerful city. So I think our place is important, and I think one of our challenges is going to be moving into the future thinking about how we preserve that and how we make it accessible to as many people as would like to be part of it.

You’re a single mother, you were the first female senior minister of Calvary, and now you are going to be the first female senior minister at Riverside. Where do you see yourself fitting in the modern feminist landscape?

I really recognize the significance of my call. I really want to commend the Riverside Church for taking the step of hiring a woman. That said, there are many, many gifted women around this country who are leading churches and who are doing all kinds of amazing professional roles and being mothers at the same time. And so hopefully this can be a recognition of that fact. It’s not something new; it’s happening everywhere and has for some time. Because this is such a public decision, I hope that it can be affirming of the many different roles that women play.

Do you have anything else that you want to add about the upcoming transition?

Having been the pastor here at Calvary Baptist Church in Washington, D.C., for 11 years has been such a great time of preparation and growth for me, and I’m leaving behind this amazing, amazing community here. And that is giving me a lot of the courage to move into this new, big role.

[Update: After the story was published, Butler asked to add additional context to her description of her salary. The following question was asked and answered by email.

Your salary sounds different from your predecessor's. How did that figure into your decision?

The Riverside Church made it clear that they wanted to ensure equity in what they offered me. As their first female pastor, I felt that was an important message to send. And I felt that exact numbers—especially for such a humbling offer--were less important than the witness of equity. So the overall compensation won’t be the same, but we agreed to keep the same salary of $250,000 and for the church to provide for my housing, health insurance, and contribute to my retirement. I’ve found it is easy to think in terms of what we are owed or what we own, but it’s important to ask instead how we can use the resources we have, and how we might be used by God through them. Riverside has blessed me and given me quite a responsibility with their offer.]

TIME Business

8 Companies That Seriously Owe Their Employees a Raise

B.A.E. Inc.—Alamy

Should companies with higher profit margins pay employees better?

247-LogoVersions-114x57
This post is in partnership with 24/7Wall Street. The article below was originally published on 247wallst.com.

With the stock market reaching new heights daily, companies’ profit margins at multi-decade highs, and falling unemployment, many Americans may be wondering when they will start to see the benefits of the U.S. economic recovery. For many workers, wages have remained stagnant even as the economy is making positive strides.

A number of America’s most successful companies employ large numbers of low-wage workers. These workers are hired to staff stores, call centers, and restaurants. These workers are typically paid hourly, and oftentimes earn little above the federal minimum wage of $7.25 per hour. Oftentimes, these employees serve as the face of their companies and spend most of their workday interacting with consumers.

Click here to see the companies that owe their employees a raise

Not all employees at these companies are paid modest salaries. While customer account executives at Comcast earn $13.26 per hour on average, according to Glassdoor.com figures, stars of the company’s NBC television network shows were paid hundreds of thousands if not millions of dollars a year. And while the average attractions cast member at Disney’s parks and resorts earned just $16.39 per hour, Disney also employs far higher-paid workers at its ABC and ESPN television networks.

Recently, a number of these companies have chosen to use their resources for massive deal making. In February, Comcast announced a deal to acquire Time Warner Cable for $45.2 billion in stock value. In May, AT&T agreed to acquire DirecTV for $48.5 billion. Regulators have yet to approve the deals. Last year, Verizon signed on to an even bigger deal when it bought out British telecom Vodafone’s 45% stake in Verizon Wireless for $130 billion.

Of course, companies may not necessarily have an obligation to pay their employees a higher wage. If the recent spate of mega deals is any indication, companies can spend huge amounts to help provide better returns to their shareholders.

However, many argue that companies still spend too much in executive compensation. Comcast chairman and CEO Brian Roberts earned more than $31 million last year in salary, stock options and awards, and other benefits. Bob Iger, CEO of Disney, received more than $100 million in total compensation from 2011 through 2013. Outsized salaries like these appear especially disproportionate when compared to low-wage workers.

Based on data provided by Capital IQ on S&P 500 companies, 24/7 Wall St. identified corporations with high operating income, high operating profit margins, and major one-year growth in operating income. In order to be considered, companies had to be in a customer-facing industry and have a large number of low-wage workers. We excluded financial companies, such as banks and thrifts, because the data we used to measure profitability is inadequate for judging the industry’s performance. Employee totals by company are from Yahoo! Finance. CEO pay is from filings submitted by public companies with the Securities and Exchange Commission. Figures on compensation are from Glassdoor.com and are self-reported by users to the website.

1. Time Warner Cable Inc. (NYSE: TWC)
> 1-yr. stock price change: 48.3%
> 5-yr. stock price change: 359.9%
> Total employees: 51,200
> Total CEO compensation: $14.2 million

ime Warner Cable is one of the nation’s largest telecom companies, with revenue of more than $22 billion and operating income of $4.6 billion last year. Although Time Warner Cable is not growing especially quickly, it continues to generate large amounts of cash from its operations and return profits to shareholders. The company’s stock has been one of the S&P 500′s better performers over the past twelve months, up 48.3% in that time. Some of the stock price rally is the result of the company’s deal with Comcast, which agreed in February to acquire Time Warner Cable. The merger will combine the nation’s two largest cable operators. But while shareholders reap the benefits of the deal, many employees may be left in the lurch as a result. Part of the deal’s appeal is an estimated $1.5 billion in savings from operating efficiencies, which may include job cuts. According to Glassdoor.com, the average customer service representative at Time Warner Cable makes just $11.85 an hour, and the average inbound sales representative earns just $11.41 an hour.

ALSO READ: The States With the Strongest and Weakest Unions

2. Public Storage (NYSE: PSA)
> 1-yr. stock price change: 12.7%
> 5-yr. stock price change: 156.7%
> Total employees: 5,200
> Total CEO compensation: $9.2 million

Public Storage owns more than 2,200 self-storage facilities across the U.S. and Europe. Because of its low-cost business model, Public Storage recorded a nearly 50% operating margin in its latest fiscal year, higher than nearly all other companies in the S&P 500. Its earnings were actually higher than its operating income because of the earnings it recorded from its investments in Shurgard Europe, a European storeage company, and PS Business Parks, a U.S. commercial real estate company. While highly profitable, Public Storage pays the average relief manager just $10.57 per hour, and the average property manager only $10.50 per hour, according to Glassdoor.com.

3. Michael Kors Holdings Limited (NASDAQ: KORS)
> 1-yr. stock price change: 49.7%
> 5-yr. stock price change: 290.3%
> Total employees: 9,184
> Total CEO compensation: $7.6 million

Michael Kors’ retail operations have grown rapidly in recent years, with comparable store sales up 26.2% last year, due largely to increased sales of accessories and watches.The company also added more than 100 new stores in most recent fiscal last year. Alongside the expansion, total operating expenses increased considerably during fiscal 2013 by about $331 million. As a percent of revenue, however, the company’s operating costs actually declined. While the overall dollaramount allocated to salaries increased from the previous fiscal year, Kors sales associates are paid an average of just $10.37 per hour, according to Glassdoor.com, although they can also earn commissions.

Click here to see the rest of the list.

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MONEY Careers

What to Do When You Find Out You Earn Less Than Your Predecessor

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Some sources say that the recent firing of New York Times Executive Editor Jill Abramson—shown here with her predecessor, Bill Keller, in 2011—was owed in part to her complaints about earning less than Keller. FRED R CONRAD—The New York Times/Redux

How to tell whether you should march into your boss's office -- or just suck it up.

Q: I just found out my predecessor made more than me. My boss doesn’t know I know. What should I do?

A: Before you work yourself up into a fury, keep in mind that “it’s unusual for someone to come into a role and make the same exact salary as the previous person in the job,” says Lydia Frank, editorial director at compensation data provider PayScale.com. Also, there may be a good reason that you make less.

Many factors affect compensation. Employers typically stick within a general range for each position, and where you fall within that range depends a lot on what you bring to the table–your years of experience, your unique skill set and your education. Unless those attributes are identical to those of your predecessor, you shouldn’t necessarily expect to command the same salary. Additionally, as unfair as this may seem, the economy may play a role: The person you replaced may simply have been hired during more flush times at your company.

If after having weighed these factors you still see an imbalance, however, you should talk to your boss. But you’ll want to be careful about how you do it, as it can be a delicate dance to get your boss to see your side. (It’s been widely reported that one of the factors in the recent high-profile ouster of New York Times executive editor Jill Abramson was her complaints about earning less than the person she replaced.)

First, get some data behind you, since you want to avoid bringing up what you know about your predecessor’s pay. By mentioning that, “You’d be putting your boss on the defensive,” says Frank. “That’s not a conversation that’s likely to go well.”

There are several ways to find out what’s an appropriate income for your position. You can check salary sites, such as PayScale.com which crowd sources data on compensation, and Glassdoor.com, which posts company salary reports. You can also turn to your network and ask current or former colleagues for insight. (While it’s still taboo to talk about pay, it may be easier if you ask about a range.)

Then tell your manager that you’ve done some research on salaries in your position, and the data you’ve found indicates that you’re are at the low-end of the scale. From there, build your case about why you are a top performer and should earn more, using quantifiable examples of your successes and highlighting wins that align with your boss’s and the company’s goals. If your supervisor pushes back, ask what you can do to get to that next level: Get more training, add a particular skill or hit a sales target?

The bottom line: When it comes to your salary, what’s most relevant is whether you are making what you should based on the current market price for your position and your qualifications, not what the person before you earned.

TIME Executive Pay

CEO Pay Tops $10-Million Mark

First time median passes $10-million threshold

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CEO pay had long since crossed the six and the seven-figure thresholds, but now it’s all about eight figures.

Median CEO pay hit a record high of $10.5 million in 2013, an 8.8% rise over 2012, according to a new joint study by the Associated Press and Equilar, an executive pay research firm. Compensation packages, buoyed by soaring stock prices, reaped the gains from the market. CEO pay continued its fourth consecutive year of gains since the recession.

The typical CEO now makes 257 times the salary of an average worker, the AP reports. In 2009, CEOs made an average of 181 times as much. More than two-thirds of CEOs in the S&P 500 received a pay raise, with the heads of banks receiving the biggest hikes, averaging 22%.

The highest-paid CEO, with a total payout of $68.3 million, was Anthony Petrello of Nabors Industries, an oil and gas drilling company.

[AP]

 

MONEY Careers

Reading This From Behind a Desk? You’re More Likely to Have a Fatter Wallet—and a Fatter Waist

While better paid, office workers are more likely to be overweight than their non-desk jockey peers. Use these tips to make sure your wallet is the only thing that's plump.

Spend most of your workday behind a desk? First, the good news: You probably make more money than someone who doesn’t, according to a new survey. CareerBuilder has found that workers in desk jobs are twice as likely to make more than $100,000, compared to those who do not work behind a desk.

Now for the not-so-good news: You’re also more likely to be overweight.

Nearly six in 10 of desk jockeys identify as overweight vs. five in 10 non-desk workers. And 46% report that they have gained weight in their current jobs.

Researchers have long known that sedentary work puts adults at a higher risk of obesity. But desk workers also told CareerBuilder about the psychic toll. Half of the respondents say that they feel “stuck inside,” and 56% say they spend most of their time staring at computer screens.

If you’re tied to a desk, here are some ways to stay fit and fight burnout:

Work on your feet

Citing the long-term dangers of sedentary work, the American Medical Association urges employers to let workers use standing desks or isometric balls. Ask your boss if you can make some changes to your workspace and spend more time on your feet.

Take a hike

Researchers have found that even short breaks from sitting are associated with better health outcomes. Every once in a while, remember to get up and walk around the office.

Do some desk exercises

One study suggests that workers today burn about 100 fewer calories than workers did in 1960. Adding short periods of exercise—such as these that you can do without leaving your workspace—to your daily routine could help keep off the extra pounds.

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