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Paychex Exec Pay OK Despite COVID

In a period in which the COVID-19 pandemic took big chunks out of many workers’ pay, named executives for Paychex did not fair badly for the year ended May 31. The smallest increase went to CEO Martin Mucci who had a 19.3-percent rise over fiscal 2020 while three others had increases that topped 34 percent.

The five executives of the payroll company took 20-percent cuts in base salary from July 1 through December 31. In Mucci’s case, that meant his base salary dropped to $898,462 for the most recent ended year, down 9.5 percent from $992,885 the prior year,

But overall, the CEO’s pay rose to $9.6 million from $8.1 million. His biggest percentage increase came in non-equity incentive compensation of $2.1 million, a jump of 175.7 percent from $768,800 the prior year. But that brought it more in line with the $1.7 million in 2019 and that pattern held for all five men as pay in that category rebounded from last year.

Mucci had option grants of $2.6 million, up 39.6 percent from $1.9 million while his stock awards dropped 10.1 percent to slightly less than $4 million from $4.4 million.

CFO Efrain Rivera received pay of $2.9 million for the most recently ended year, an increase of 29.3 percent from $2.2 million the prior year. Mark Bottini, SVP of sales, earned $2.5 million, up 36.4 percent from $1.8. million; SVP of sales John Gibson was awarded $2.5 million, a rise of 34.6 percent from $1.9 million while Michael Gioja, SVP of IT and product development, earned $2.5 million, which was 35.1-percent higher than the $1.9 million the prior year.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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