John Mack, CEO Of Morgan Stanley Gets Huge Bonus

You often hear just how big CEO pay packages are, and now you have a good deal of evidence that the statement is true. CEOs really do get great pay packages, as evidenced by John Mack of Stanley Morgan who received $40 million in bonuses in 2006.

Mack, 62, was awarded 461,821 stock units valued at $36.2 million on December 12, according to a filing with the Securities and Exchange Commission late Thursday. He was also awarded 178,945 options to buy Morgan Stanley shares, valued at about $4 million.

This is currently a record bonus, but it's doubtful it will last forever. Pay packages are up and promise to go a whole lot higher before they return to Earth.