U.S. CEOs Earned More Cash in 2003

America’s top executives pocketed about $2 million each in cash last year, a median pay rate that climbed 17.4% from 2002, according to an analysis of 223 of Standard & Poor’s 500 companies.

The salary and bonuses of CEOs grew to a median $2,025,000 from $1,725,506 in 2002, according to Equilar, which analyzes compensation data from corporate documents filed with federal regulators.

The median base salary rose about 4%, to $950,000, in line with the long-term trend. But bonuses jumped 20% amid the stock market and economic recoveries, to $1,056,000 from $880,875.

As for long-term incentives -- such as stock options and restricted stock grants -- the overall numbers are less rich, primarily because fewer companies are handing out options because of expected new accounting rules that will require companies to expense options.