Accounting pays, especially at the PCAOB

Oh, the irony: The August Public Company Accounting Oversight Board is drawing attention for the high salaries it pays its top officials. Mark Olson, the head of the board, made $615,000 last year. Whew! That's about three times as much as SEC Chairman Chris Cox. Former PCAOB chairman William McDonough's made $595,000, $575,000 and $556,000 in 2005, 2004 and 2003. The gravy flows to PCAOB directors as well. They make in the $500,000 range. For many, this doesn't sit well, though I doubt anyone will be willing to really take the board to task the way it would certainly go after CEOs. The board says the competitive hiring situation has forced it to boost pay. Hey, at least options backdating isn't an issue. All in all, it's a good time to be an accountant or compliance pro.

For more:
- read this Financial Week article