US CEO pay rose 11pc in 2010

Chief executives in the US saw a significant jump in their pay last year as they received large bonuses for returning their companies to profit and growth.

According to a study for the Wall Street Journal by management consultancy Hay Group, the median value of salaries, bonuses and long-term incentive awards for CEOs of 350 major companies rose 11pc to US$9.3m.

In 2009, pay to CEOs was flat at the same companies. However, in 2010, chief executives were rewarded for increasing profits and share values. Company incomes, profits and share value increased by more than pay did.

Top of the list was Viacom’s Philippe Dauman who earned $84.3m, double his 2009 pay. The amount ballooned because of equity awards in a new contract.

Viacom shares increased by 33pc in the year.

Billionaire Larry Ellison came in second after receiving $68.6m compensation for heading Oracle Corp.

CBS CEO Leslie Moonves placed third with total pay and bonuses reaching $53.9m.

The Journal measured CEO pay by total direct compensation, which includes salary, bonuses and the granted value of stock, stock options and other long-term incentives given for service in fiscal 2010. That figure excludes the value of exercised stock options and the vesting of restricted stock.