Schwab CEO finally gets a raise

Bettinger lands an extra $100K in base pay; total comp topped $10M last year
MAY 16, 2012
Walt Bettinger, chief executive of the Charles Schwab Corp., has received his first salary increase since taking the top spot at the company in October 2008. The $100,000 per year increase, effective March 1, brings Mr. Bettinger's base salary to $1 million per year. That amount is only a fraction of his total compensation, however. Last year Mr. Bettinger received $10.1 million in total pay, most of it from option awards and bonuses. The company disclosed the salary increase in a proxy statement filed today with the Securities and Exchange Commission. Schwab's compensation committee approved Mr. Bettinger's raise in January. The committee "believes that Mr. Bettinger's leadership has been a key factor in managing through a difficult economic environment," the proxy said.

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