After two consecutive years of decline, the pay package for top American executives saw a growth of 28 per cent in 2010, with the bonus payout component witnessing the maximum growth, says executive compensation research firm Equilar.

The average compensation for S&P 500 chief executive officers was about $9

million, up from about $7 million in 2009, while, the median bonus payouts for these CEOs rose by 43.3 per cent to $2.15 million in 2010, the Equilar study said.

Meanwhile, around 85.1 per cent CEOs received an annual bonus payout in 2010, compared to 73.6 per cent in 2009.

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An industry-wise analysis shows that basic materials CEOs received the most compensation, with an average pay of $9.9 million in 2010.

However, median total chief executive compensation at technology and financial firms saw the largest growth from 2009 to 2010, increasing 60.5 per cent and 31.3 per cent, respectively.

Meanwhile, the total pay at healthcare firms grew the least, increasing from $9.2 million in 2009 to $9.7 million in 2010.

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Chief executives in this industry had the second-highest overall pay in 2010.

In this analysis, the total compensation includes base salary, annual and long-term cash bonus payouts, the date value of stock and option awards made during the year, and all other compensation, Equilar said.

For fiscal 2010, salary grew by at least 5 per cent, bonus by 43.3 per cent, followed by stock 39.4 per cent, options 16.4 per cent and others 13.1 per cent.

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Equilar's analysis of S&P 500 CEO compensation was based on the recently filed proxy data for 303 chief executives at 302 companies that had CEOs in place for at least two full years.

Comparing the CEO to the other four Named executive officers, Equilar said the median CEO is making 2.4 times the $3,645,020 median pay of the second-highest-paid executive.

"The pay given to a chief executive usually sets the pace for other executives at his or her firm," Equilar said.