Word: bonus
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...nearly $1.4 million. The struggling International Harvester loaded rewards upon Chairman Archie McCardell in the late 1970s and early 1980s even though the company suffered a devastating strike and came close to bankruptcy. When McCardell finally left the ailing company in 1982, it gave him a $600,000 bonus...
This year TIME will run more than 100 "bonus" color pages in order to handle 1984's extraordinary journalistic webwork of domestic politics, Olympic Games and international turmoil. The introduction of full four-color capability will enable us to present these events with even greater drama, clarity and splendor...
Each company is graded on five criteria: pay, benefits, job security, chance to move up and ambience. Goldman Sachs, an investment banker, is one of the best-paying companies. It has a generous profit-sharing plan, and last year gave many employees a year-end bonus of 25% of their salaries. IBM offers such benefits as free physical examinations for those over 35, dental insurance, adoption assistance (up to $1,000) and two country clubs that employees can join for $5 a year. Hewlett-Packard provides free coffee and doughnuts twice a day and sometimes throws informal beer busts...
Executive salaries in Detroit are spiraling upward particularly fast. From 1980 to 1982 the depressed auto industry did not give out any bonuses, but now they are back-and big. Two weeks ago Ford announced that Chairman Philip Caldwell in 1983 received a salary of $520,534 and a bonus of $900,000. Stock options can dramatically boost total compensation figures even higher. Last year Caldwell's options netted him an extra $5,892,024. General Motors Chairman Roger Smith, whose company had record earnings of $3.7 billion in 1983, will probably get a salary and bonus package worth...
...last year. Lower-level managers, on the other hand, will not do quite so well. Their pay hikes are expected to be 11%, after a 5.6% increase in 1983. Says Alan Johnson, a senior consultant with Sibson: "The highest increases will be in industries geared to performance, where the bonus reflects the largest part of compensation." Stockbrokers and automakers should do well; executives at utilities and insurance companies may see more modest gains...