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I would not want to be head of compensation at a Wall Street firm right now".
"Don't whine," said Laura Sejen, head of compensation consulting at Watson Wyatt, the human resources consultancy in New York.
"Compensation policy is central to supporting the company culture," says Albert Knab, head of compensation and benefits at the Stuttgart offices of DaimlerChrysler, a company going through a spectacular culture change of its own.
Ira T. Kay, the head of compensation at the consulting firm Watson Wyatt, said, "No one's looking to give them sympathy, but it's not correct to say they haven't felt the pain of their shareholders".
Finally, I crossed off an item that had been on my list for more than a year: I urged our head of compensation and benefits to add more index funds to the lineup of available investments in the 401(k) plan that I participate in.
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And, as with any virus, some people are more potent transmitters: Kenneth Langone, the board member who engineered Nardelli's hiring at Home Depot, was also the head of the compensation committee that approved Dick Grasso's extravagant payday at the New York Stock Exchange, and was on the G.E. board's compensation committee that approved Jack Welch's luxurious retirement package.
The head of the compensation committee for Barclays was heckled at the bank's annual meeting in London on April 27th.
As head of the compensation board, Mr. Weiss, who earns $120,800, directs the system, which employs 1,500 people.
The head of the compensation committee is Stephen W. Foss, a manufacturing executive who has been on Tyco's board since 1983.
Alexander M. Dye, the head of the compensation committee and a member of the executive committee, was probably the firm's most powerful partner aside from Davis.
"On average, pay levels have moderated," said Doug Friske, the global head of executive compensation consulting at Towers Watson, a human resource consulting firm in New York.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com