Maybe you missed your earnings target last year or your stock was crushed. But if you’re a corporate executive, that might not necessarily prohibit you from earning a generous bonus.
Following an unprecedented period of economic turmoil, a number of corporate boards appear to have taken pity on executives last year. In some instances, they handed over millions of dollars in so-called discretionary bonuses to managers.
At United Technologies, which manufactures everything from elevators to helicopters, its top six executives collected a combined $4.5 million in bonuses last year, even though the company failed to reach its goal of matching its 2008 profit performance.