Memphis' CEO salaries rank them on labor statistic's list of highest salaries

(WMC-TV) - Even during these tough economic times, CEOs in Memphis are still making big salaries. Their salaries are so big that the amount landed them on a list of 362 cities across the country.

Business leaders calling Memphis home find themselves in the middle of a new list out from the Bureau of Labor Statistics.

More than 2,100 area chief executives are based here. They make an average of about $172,000 each year, which ranks at 151 on a list of more than 360 cities nationwide.

"$172,000 when you consider for private enterprise that generate jobs and a lot of management responsibility is, in the scheme of things, not that much," said Lee Harris..

Harris watches business trends as a University of Memphis law professor. He also sits on the Memphis City Council.

"I just would expect to be closer to the top. To have 150 cities to outpace us in terms of CEO pay, it's just a little bit surprising," said Harris.

But the top ten Memphis CEOs bring up the average significantly. To get an idea of how much they are making, here are the 2010 numbers:

  • Tom Kadien, Senior VP at International Paper, $4.26 million
  • Tim Nicholls, CFO of International Paper, $4.27 million
  • Alan Graf, CFO of FedEx, $4.36 million
  • Carol Roberts, Senior VP at International Paper, $5.14 million
  • David Bronczek, CEO of express division FedEx, $5.33 million
  • Dominic Pileggi, Thomas & Betts CEO, $5.51 million
  • Max Pacheo, International Paper Europe, $5.52 million
  • Frank Gusmus, Fmr First Horizon President, $5.75 million
  • Fred Smith, FedEx Chairman and CEO, $7.42 million
  • John Faraci, Chairman and CEO International Paper, $17.85 million