More reasons to wish you were Wyeth's CEO: Bernard Poussot got a 69 percent raise in his compensation package for 2008. Just on a percentage point basis, that increase would be 23 times what the lucky ones among the masses got last year: 3 percent.
When you look at it in dollar terms, though, the multiples get to be enormous. Poussot's compensation deal amounted to $21.3 million in 2008, up from $12.7 million in 2007. That's a difference of $8.6 million. According to Salary.com, the median compensation and benefits package for a pharma rep is about $104,500, so Wyeth's chief made about 204 times what the average rep makes. Nice work if you can get it. Plus, for "security and other reasons" Poussot is required to use the company jets and helicopters when he flies.
The rest of Wyeth's executives didn't do too badly, either. CFO Gregory Norden made $7.7 million, up from $3 million in 2007. SVP and President Joseph Mahady got $9.8 million, up from $7.2 million. Even ex-execs did well; former chairman Robert Essner made $20.9 million, down from $24.1 million last year, while Ex-SVP of R&D Robert Ruffalo Jr. made $4.7 million, down from $6.7 million in 2007.