Your 3% and his may be a little different.
Here we are in the middle of the year and for some folks, this is when they get their annual review.
For the majority of us a single digit increase is getting to be the norm.
If you earn $30,000 and get a 3% increase, you see a bump of $900 or $34.61 every two weeks.
On the other hand, if you are John Thain, CEO of Merrill Lynch and you get a 3% increase your pay gets bumped…$2,490,000.
So 3% means different things for different people.
By the way, his firm has taken a beating and a number of folks have lost their jobs to “save money.”
Below are a few folks doing pretty well this year.
| CEO | Company | Pay, in millions |
| John Thain | Merrill Lynch | $83.1 |
| Leslie Moonves | CBS | $67.6 |
| Richard Adkerson | Freeport-McMoRan Copper & Gold | $65.3 |
| Bob Simpson | XTO Energy | $56.6 |
| Lloyd Blankfein | Goldman Sachs Group | $53.9 |
| Kenneth Chenault | American Express | $51.7 |
| Eugene Isenberg | Nabors Industries | $44.6 |
| John Mack | Morgan Stanley | $41.7 |
| Glenn Murphy | Gap | $39.1 |
| Ray Irani | Occidental Petroleum | $34.2 |