Chevron CEO Watson Paid $26 Million in 2014

By Angela Chen 

Chevron Corp. Chief Executive John S. Watson was paid $26 million in 2014, up about 8% from $24 million the year before.

The biggest increase was in Mr. Watson's pension benefits, which grew to $7.4 million last year from $3.8 million in 2013. Otherwise, Mr. Watson saw his base salary increase slightly to $1.83 million from $1.77 million, while his stock awards fell slightly to $4.8 million from $5.8 million.

According to The Wall Street Journal's annual compensation survey, which analyzed data from the 300 largest U.S.-traded public companies by revenue, CEO pay rose a median of 5.5% to $11.4 million in 2013. The survey found the top 10% of CEOs by pay earned 23% of the total compensation, while the bottom 30% accounted for just 13% of the total.

The three highest-paid CEOs-- Oracle Corp.'s Larry Ellison, CBS Corp.'s Leslie Moonves and Liberty Global PLC's Michael T. Fries--made a total of $188 million in 2013, more than the combined pay of the 50 CEOs at the bottom of the list.

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