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GM yesterday announced a pay increase for its top executives returning CEO Rick Wagoner’s base salary back to its 2003-2006 level. GM listed Wagoner’s 2008 base salary as $2.2 million up from $1.65 million in 2007. Firtz Henderson’s salary increased to $1.8 million while Bob Lutz’s got a boost to $1.7 million, up from $1.3 million.

Total 2007 compensation for the executives including base salary, stock awards, options and other income, was: Wagoner at $14.4 million; Henderson at $7.6 million; and  Lutz at $6.9 million.

Comparing that to Wagoner’s counterpart at Ford, Mulally earned a total of $21.7 million in 2007, his first full year on the job. That’s a difference of $7.3 million between the two.

Ford earned a base salary of $2 million, $7 million in incentive bonuses, more than $11 million in stock and stock-option related awards and $1.4 million in ‘other’ compensation.

Don’t be so sad Rick, at least your base salary is higher than Mulallys.

 

Source: Automotive News (Subscription Required)

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