You wouldn't think $7.7 million is something to complain about, but then again, you're probably not in the running to be CEO of General Motors. Despite the fact that GM is no longer the largest company in the world – or, depending on whom you ask, even the largest carmaker – it's a big job. On most days, we imagine it's a pretty thankless one too. So when you compare the salary of GM CEO Dan Akerson to that of his cross-town rival at Ford, perhaps $7.7 million does seem like chump change compared to Alan Mullaly's 2011 compensation of $29.5 million.

And according to a report in The Detroit News, GM apparently isn't happy to see its CEO sitting in third place among Big Three CEOs when payday comes. GM's proxy statement filed with the Securities and Exchange Commission yesterday said that the company is having an "extremely difficult" time hiring qualified executives because of limits to compensation set by the U.S. Treasury Department. The Treasury has capped the amount Akerson and other execs can make as part of GM's 2009 bailout.

Here's a thought: Maybe GM just needs to do a better job emphasizing all the benefits that come with working for the General, like getting to drive a Chevrolet Volt gratis.


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  • 79 Comments
      Ducman69
      • 2 Years Ago
      There is nothing wrong with $7.7 million a year, plus all the other countless perks he gets. The problem is with Alan Mullaly's compensation, that is what the article needs to be about. The one thing the UAW makes a good point about is how top level executives take these lavish trips, have personal aircraft, expense everything, get multi-million bonuses, on top of tens of millions annually while simultaneously telling the people that actually make the products that they are overpaid and layoff tens of thousands of employees. Capitalism is the best system we have, but it fails at the fringes both at the very top and the very bottom, where compensation seems to be entirely divorced from contribution.
      dragonrage1191
      • 2 Years Ago
      really? there is complaints about someone receiving JUST 7.7 million? I mean consider himself blessed that he is with a company that was almost not a few years back. Not to mention I think he still gets money from his previous spot at the Carlyle Group doesn't he?
        montoym
        • 2 Years Ago
        @dragonrage1191
        Note that Akerson isn't the one complaining here, just the media and people commenting here. It's also not really a complaint, more an observation. Akerson is underpaid compared to others in his position at other similarly-sized firms. A large part of the reason for that is that the gov't is limiting his compensation artificially. They aren't allowing GM to pay him what he'd be worth at another competing company. That's all this is about, not Akerson saying that he deserves more.
      Teleny411
      • 2 Years Ago
      He should...
      fred.f.willis
      • 2 Years Ago
      check this out - good ol GM or what???? http://youtu.be/Lvl5Gan69Wo
      genelamont
      • 2 Years Ago
      Whatever top talent they were recruiting before the re-structure would have been overpaid at $1 a year. So maybe this way they will get people who care more about the company than the money.
      • 2 Years Ago
      [blocked]
      NAIF S
      • 2 Years Ago
      Actually 7 million is good. The other guys make to much.
      rmkensington
      • 2 Years Ago
      Just breaks my heart to hear of his incredibly low pay.
        Big Squid
        • 2 Years Ago
        @rmkensington
        I did not downvote this. Why did it add to the minus total? Does Autoblog employ GM software engineers?
      johnb
      • 2 Years Ago
      funny considering federal workers on average make nearly double people in the private sector do. LOL I couldn't help myself.
      Blake
      • 2 Years Ago
      grobberment moters soshulism hurf durf
      kevsflanagan
      • 2 Years Ago
      I'd prefer people who want to work for GM because they have a passion for the company much rather than someone who is looking for a pay day.
        John Ward
        • 2 Years Ago
        @kevsflanagan
        Does anyone really "have a passion" to work anywhere. Every job I've ever had was about supporting my family.
          montoym
          • 2 Years Ago
          @John Ward
          I'm sure he has passion, but look at it from his standpoint. He's working at a company doing the same work, showing good growth and profits and he's making less than what 75% of those in a similar job at comparable companies are making. Why wouldn't he just say, "you know what, I can go to this other company, do the same job and make more money there". That's the complaint GM has here. How can they keep good, talented people when they can be lured away by a much better compensation package at another company that GM legally can't even offer? Despite the fact that he, as a CEO, makes more than 99.9% of us will in our lives, that doesn't mean tthat he doesn't compare his salary to those of his competitors. In that sense, he is being underpaid. Look at it in terms of professional athletes as well. Everyone talks abouy how the Yankees buy their teams. They do have the highest payroll in the majors and they can bring on any player they want because of it. Do you think they'd have the same caliber of team if they only offered those superstar players the league minimum pay? Why not? Fact is, competition works and people respond to incentives. It's basic economics. Now bring this down to your level. At your job, if you found out that you were making less than most of the people you worked with for doing the same job, would you just continue to work happily because you have "passion" or would you ask to be compensated more like the others you work with? That's exactly the same situation that Akerson is in, though, he doesn't appear to be making as big a deal about it as the media and us are however. I will give him credit for that.
      MAJOR HAWK STEDDER
      • 2 Years Ago
      FORD SUCKS!
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