Federal Pay:

Executive Salaries in Government-Related Banking Organizations

GGD-87-68FS: Published: Apr 30, 1987. Publicly Released: Apr 30, 1987.

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Pursuant to a congressional request, GAO provided information on executive salaries at certain quasi-governmental agencies, including the Federal Home Loan Banks, the Federal Home Loan Bank Board's Office of Finance and Office of Regulatory Policy, Oversight, and Supervision, the Federal Home Loan Mortgage Corporation, the Federal Asset Disposition Association, and the Federal Reserve System.

GAO found that: (1) within the 6 organizations, 171 employees' 1986 salaries were greater than the salary level for heads of cabinet-level departments and agencies; (2) the employees' median salary was $103,958; (3) the employees' salaries ranged from $86,500 to $250,000; and (4) the agencies all set executive salaries by hiring consulting firms to survey organizations they considered to be their competition.

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