Head-Scratching Glory
Poor bigwigs? Houston ranks only 16th in average CEO pay, below even Durham
A study published by the American City Business Journals (which includes the Houston Business Journal) this week probably has many Houstonians scratching their heads, as it ranks the Houston metropolitan area as only the 16th highest in the country for average yearly CEO compensation.
The low ranking of the area, technically comprised of Houston, Sugar Land and Baytown, comes as a surprise mainly because of the smaller metro areas Houston ranks well behind, including Bridgeport-Stamford-Norwalk, Connecticut, which took the top spot. Houston area CEOs earned an average of $200,660 in 2009, compared to the Connecticut metro area's average of $217,080.
While the cost of living is high in southwest Connecticut, three cities in North Carolina also placed above Houston in average CEO pay — Durham (No. 5), Asheville (No. 9) and Goldsboro (No. 15).
The study ranks the top 16 metropolitan areas with CEOs earning an average of $200,000 or more, as reported by the Bureau of Labor Statistics. No other Texas cities made the list.