NEW YORK -- Profits at big U.S. companies broke records last year, and so did pay for CEOs.
An analysis by The Associated Press finds that the head of a typical public company made $9.6 million in 2011. That was up more than 6 percent from the previous year and the second straight year of increases.
The figure is also the highest since the AP began tracking executive compensation in 2006.
Companies trimmed cash bonuses but handed out more in stock awards. For shareholder activists who say CEO pay is exorbitant, that was a victory of sorts.
The AP survey evaluated companies in the Standard & Poor's 500 that filed regulatory statements through April 30. For accurate comparisons, it counted only CEOs in place for two years.
By BERNARD CONDON, AP Business Writers
The Associated Press