elcome to the club. George Roche
, chairman and president of T. Rowe Price
, took a 5 percent pay cut in 2002 compared to 2003. Since the start of the bear market, though, his pay package has shriveled even more. Since 2000 his compensation is down by more than 40 percent. Roche's compensation came to $1.9 million last year, or roughly $100,000 less than last year according to documents the firm filed with the SEC.
Roche's base pay in 2002 of $300,000 was supplemented with a bonus of $1.6 million and a retirement contribution of about $25,000. He also exercised options worth $2.1 million. His 2001 bonus had been $1.7 million. In 2000 his bonus was $2.5 million.
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