“I really don’t want to answer that question,” said Ira T. Kay, flashing me some combination of half-grin and half-grimace. “I have clients.”
Does he ever. Mr. Kay, 57, heads the executive compensation practice at Watson Wyatt Worldwide, which is one of the country’s leading compensation consulting firms. He is a funny, gregarious man, quick with a clever retort, and utterly without guilt about what he does for a living — not only enabling big-time chief executives to make oodles of money, but defending most of the practices that allow corporate chieftains to reap their millions.
For years, Mr. Kay has overseen an annual Wyatt Watson executive compensation survey, which the firm describes as an effort to provide “perspective on the executive pay model in general, pay for performance, stock ownership and share usage.” The Ira Kay perspective, not surprisingly, is that while there may be a few problems here and there (about which more later), the model is a darn good one.
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