Washington, D.C. - As part of our annual survey of chief executive pay at America's 500 biggest companies, we took a closer look at aerospace and defense. For the last few years, the sector has jumped on robust defense budgets and a rebounding commercial aerospace market.
In that time, compensation for the leaders of America's largest aerospace and defense concerns has also ballooned. Take the six in the first of the accompanying tables. Their stocks delivered a 30% annualized total return during the companies' last three fiscal years. By our tally, total compensation for those companies' chief executives increased an average 50% annualized during that period.
In Pictures: Aerospace Pay Flying High
For 2007, the average total compensation among aerospace and defense companies in our annual salary survey was $20.6 million, vs. an average $12.8 million for all 500 companies surveyed. The median figure, or midpoint in the range, for the nine aerospace and defense companies in our survey was $14.6 million, vs. a median of $6.5 million for all 500 chief executives in our print rankings.
Full story at Forbes.com