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The Czar

The front page of this week’s New York Times Sunday Business Section reported that a recent study found that the changes made in pay practices by 191 of the nation’s largest companies indicated, instead of finding a greater reliance on long-term incentive programs as a percentage of total compensation, most of these companies are making short-term incentive pay a bigger part of the compensation pie. Not terribly surprising, since long-term compensation in the form of restricted stock grants and fund promotes has become skimpy to worthless. However, this shift will not encourage long-term thinking and planning. There is going to be a lot to sort out on the compensation front as the recovery emerges over the next couple of years. Of course, at the same time, we have the “Pay Czar” with loaded guns, hunting to establish “appropriate” levels of compensation for the institutions now within his domain. If I were in his sights, I would duck.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.

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