The adage that you get what you pay for may not always hold true at the highest levels of executive compensation. A San Antonio Express-News analysis of changes in pay for the CEOs of publicly traded companies in the San Antonio area from 2022 through 2023 found that, for some, raises kept coming even as their companies’ profits floundered. While net income at the 16 companies declined by an average of nearly 31%, the compensation of their chief executives increased by more than 14% in 2023.
Why some well-known chief executives aren’t included in our report — and what some of them are paid Although individual CEOs of companies with declining profitability saw their compensation slide, the pay reductions were smaller than the reductions in their companies’ net income — or increases in net losses. Conversely, six CEOs at companies with increasing profits or declining net losses saw compensation go up by higher percentages than for improvements in their companies’ bottom lines.