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Ian McCarthy got a nice company bonus from Beazer Homes USA Inc. at the end of its fiscal year.
McCarthy, 49, president and CEO of the Atlanta-based home builder (NYSE: BZH), received a 21 percent increase in pay, effective Oct. 1, according to the company's annual report, filed Dec. 20 with the Securities and Exchange Commission.
McCarthy, who had been making $700,000 a year, now makes $850,000.
The decision to raise McCarthy's pay was based on a study done by Watson Wyatt, a compensation consulting firm based in New York, said David Weiss, Beazer chief financial officer.
The board's compensation committee deemed McCarthy's salary was below the median salary level for CEOs in the home-building industry.
"He's still below the median in similar size companies in our industry," Weiss said.
By contrast, Los Angeles-based KB Home (NYSE: KBH) Chairman and CEO Bruce Karatz, 56, earned $895,833 in 2001, the most recent figure available from the company's annual report filed March 1.
Mark O'Brien, 59, president and CEO of Bloomfield Hills, Mich.-based Pulte Homes Inc. (NYSE: PHM),...