NEW YORK- Financial services companies, including commercial banks, pay their chief executives more than Companies in nine other business categories, according to the executive compensation firm Pearl Meyer & Partners.
Pearl Meyer found total compensation to be greatest at investment banks and brokerage firms, averaging $7.6 million in 1993.
Commercial bank CEOs were the next-highest paid, at $3.9 million, followed by those in the auto ($3.3 million), electronics t$3.0 million), telecommunications ($2.43 million), and pharmaceuticals ($2.4 million) industries.
Despite their conservative traditions, commercial banks have risen on the list thanks to their Strong financial results and pay-for-performance clauses, said Pearl Meyer managing director Diane Posnak.
