Doctors and C-Suite executives are known for pulling in a pretty penny.
But what do America’s top earners have on the president of the United States?
The president is paid $400,000 a year, on a monthly basis. Plus, he receives an extra expense allowance of $50,000 a year.
The first president, George Washington, earned $25,000 a year when he came into office in 1789. That may not sound like much, but to put Washington’s compensation into perspective, $25,000 in 1913 (the oldest year the inflation calculator accounts for) is equivalent to about $600,000 today. Imagine the value in 1789!
Between 1789 and today, there have been five pay raises, the most recent one coming in 2001, when Congress doubled the presidential salary from $200,000 to $400,000. That salary alone is nearly enough to put the president in the top 1% of earners in major US cities.
Don’t confuse salary with income. Take President Obama — while his salary is $400,000, his income in 2011 was about $790,000, thanks to investments and publishing royalties from his books.
Like most employees, the president receives benefits in addition to a salary. Unlike most employees, these benefits include free transportation in the presidential limousine, Marine One, and Air Force One — and free housing in the White House.
Another bonus: At the end of their term, the President is still on government payroll, which includes an annual pension of about $200,000, health care, paid official travel, and an office.
And if you were wondering, the First Lady doesn’t get paid a dime.
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