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accordingly, the survey segment could include companies with
sales of as much as $500 million.
Mr. Reilly also used Watson Wyatt Data Services (Watson
Wyatt), which publishes an annual regression analysis report on
top management compensation. The Watson Wyatt data includes data
for the general services sector; this sector includes all service
industries except banking, insurance, and financial services and
is not limited to the construction industry. For each position
reported, Watson Wyatt provides equations used to calculate a
predicted mean total compensation as a function of sales or
stockholders equity. In addition, the log of the standard
deviation provided with each equation allows for the calculation
of predicted total compensation at different percentiles.
The median and high compensation of executives reported for
1995 and 1996 by the NIBM survey, the Aspen survey, and the
Watson Wyatt computation (calculated on the basis of shareholder
equity of $2,904,691 at the beginning of 1995 and $2,890,745 at
the beginning of 1996) is as follows:
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