Offshoring pays off--for CEOs

Are CEOs at the companies shipping the most U.S. jobs overseas pocketing some of the savings? A new report finds that average CEO compensation at the 50 firms outsourcing the most service jobs abroad increased by 46 percent in 2003. CEOs at the 365 large companies surveyed by Business Week only saw an average raise of 9 percent, according to the report from the Institute for Policy Studies and United for a Fair Economy, two groups concerned with economic inequality. The report also found that the ratio of CEO pay to worker pay reached 301:1 in 2003, up from 282:1 in 2002.