Part A: Reading Comprehension
Text 2
It is true that CEO pay has gone up—top ones may make 300 times the pay of typical workers on average, and since the mid-1970s, CEO pay for large publicly traded American corporations has, by varying estimates, gone up by about 500%. The typical CEO of a top American corporation now makes about $18.9 million a year.
The best model for understanding the growth of CEO pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly. The efforts of America’s highest-earning 1% have been one of the more dynamic elements of the global economy. It’s not popular to say, but one reason their pay has gone up so much is that CEOs really have upped their game relative to many other workers in the U.S. economy.
Today’s CEO, at least for major American firms, must have many more skills than simply being able to “run the company.” CEOs must have a good sense of financial markets and maybe even how the company should trade in them. They also need better public relations skills than their predecessors, as the costs of even a minor slipup can be significant. Then there’s the fact that large American companies are much more globalized than ever before, with supply chains spread across a larger number of countries. To lead in that system requires knowledge that is fairly mind-boggling. Plus, virtually all major American companies are becoming tech companies, often with their own research and development. And beyond this, major CEOs still have to do all the day-to-day work they have always done.
The common idea that high CEO pay is mainly about ripping people off doesn’t explain history very well. By most measures, corporate governance has become a lot tighter and more rigorous since the 1970s. Yet it is principally during this period of stronger governance that CEO pay has been high and rising. That suggests it is in the broader corporate interest to recruit top candidates for increasingly tough jobs.
Furthermore, the highest CEO salaries are paid to outside candidates, not to the cozy insider picks, another sign that high CEO pay is not some kind of depredation at the expense of the rest of the company. And the stock market reacts positively when companies tie CEO pay to, say, stock prices, a sign that those practices build up corporate value not just for the CEO.
26. Which of the following has contributed to CEO pay rise?
27. Compared with their predecessors, today’s CEOs are required to
28. CEO pay has been rising since the 1970s despite
29. High CEO pay can be justified by the fact that it helps
30. The most suitable title for this text would be
答案解析 (Answers & Explanations)
26. [C] Increased business opportunities for top firms.
解析：细节题。第二段第一句指出：“理解CEO薪酬增长的最佳模型是，在顶级公司的商业机会正在迅速增长（business opportunities for the top firms are growing rapidly）的世界里，CEO人才有限。” 这说明顶级公司不断增加的商业机会是导致薪酬上升的直接原因，对应选项[C]。
27. [D] operate more globalized companies.
解析：细节题。第三段列举了当今CEO面临的新挑战。其中第四句明确对比了前辈：“还有一点事实是，美国大型公司比以往任何时候都更加全球化（are much more globalized than ever before），供应链遍布更多国家。要在这个系统中领导公司需要极其复杂的知识。” 这说明今天的CEO被要求“经营更加全球化的公司”，对应选项[D]。
28. [B] strict corporate governance.
解析：细节题。第四段指出：“自20世纪70年代以来，企业治理变得紧得多、更加严格（more rigorous）。然而（Yet），主要正是在这治理更强的时期，CEO薪酬一直很高并在上升。” “despite（尽管）”表达让步转折，对应原文中的“Yet”。因此答案是尽管有“严格的企业治理（strict corporate governance）”，薪资依然上涨，选[B]。
29. [D] increase corporate value.
解析：细节题。最后一段最后一句指出：“当公司将CEO的薪酬与股票价格挂钩时，股市反应积极，这个迹象表明这些做法建立了企业价值（build up corporate value），而不仅仅是为了CEO。” 这说明高薪是有道理的，因为这能“提升企业价值”，对应选项[D]。
30. [A] CEOs Are Not Overpaid.
解析：主旨题。文章开篇提出CEO薪资暴涨的现象，随后在第二段用市场供需（能力要求高、人才少）来解释，第三段详细说明CEO工作难度的增加，第四段反驳了“高薪是剥削（ripping people off）”的观点，第五段证明高薪招来的人为企业创造了价值。全文旨在论证CEO的高薪是合理的，并未拿太多钱。因此，[A]“CEO们的薪水并没有过高”最契合全文主旨。
全文翻译
CEO的薪酬确实上涨了——顶尖CEO的平均收入可能是普通员工的300倍，而且自1970年代中期以来，大型美国上市公司的CEO薪酬据不同估算上涨了约500%。一家顶级美国公司的典型CEO现在年收入约1890万美元。
理解CEO薪酬增长的最佳模式是：在顶级企业商业机会快速增长的世界里，CEO人才是有限的。美国收入最高的1%人群的努力是全球经济中更具活力的元素之一。说这话不太受欢迎，但他们的薪酬涨得如此之多的一个原因是，相对于美国经济中许多其他劳动者，CEO们确实提高了自己的水平。
今天的CEO，至少对大型美国公司而言，必须具备比仅仅会经营公司多得多的技能。CEO必须对金融市场有良好的感觉，甚至可能知道公司应该如何在市场中交易。他们还需要比前辈更好的公关技能，因为即使是一个小失误的代价也可能是巨大的。此外，大型美国公司比以往任何时候都更加全球化，供应链分布在更多国家。要在这样的体系中领导，需要令人难以置信的知识。再者，几乎所有大型美国公司都在成为科技公司，通常都有自己的研发部门。此外，大公司CEO仍然必须完成他们一直以来要做的所有日常工作。
认为高额CEO薪酬主要是剥削他人的普遍看法并不能很好地解释历史。以大多数标准衡量，自1970年代以来，公司治理变得严格和严谨得多。然而，正是在公司治理更强的这一时期，CEO薪酬一直很高且不断上涨。这表明招聘顶尖人才来应对日益艰难的工作符合更广泛的公司利益。
此外，最高的CEO薪酬支付给了外部候选人，而不是安逸的内部人选，这是高CEO薪酬并非某种以损害公司其他人为代价的掠夺行为的另一个标志。而且当公司将CEO薪酬与股价等挂钩时，股市反应积极，这表明这些做法不仅为CEO创造价值，也为公司创造价值。
核心长难句精解 (High-Light)
1. 介词短语作后置定语与 where 引导的定语从句：
"The best model for understanding the growth of CEO pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly."
【解析】句子的主干是 The best model is that...（最佳模型是...的模型）。`that` 代指前文的 `model`。`in a world` 后面跟着 `where` 引导的定语从句，描述了这个世界的特征（顶级公司的商业机会正在迅速增加），点明了CEO人才稀缺的市场背景。
"The best model for understanding the growth of CEO pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly."
【解析】句子的主干是 The best model is that...（最佳模型是...的模型）。`that` 代指前文的 `model`。`in a world` 后面跟着 `where` 引导的定语从句，描述了这个世界的特征（顶级公司的商业机会正在迅速增加），点明了CEO人才稀缺的市场背景。
2. 强调句型的嵌套：
"Yet it is principally during this period of stronger governance that CEO pay has been high and rising."
【解析】这里使用了经典的强调句型 `It is... that...`，强调了时间状语 `principally during this period of stronger governance`。这句话极具反差感，说明严格的公司治理并没有压低薪水，反而证明了高薪是出于公司发展的需要，有力地反驳了“剥削论”。
"Yet it is principally during this period of stronger governance that CEO pay has been high and rising."
【解析】这里使用了经典的强调句型 `It is... that...`，强调了时间状语 `principally during this period of stronger governance`。这句话极具反差感，说明严格的公司治理并没有压低薪水，反而证明了高薪是出于公司发展的需要，有力地反驳了“剥削论”。
3. 同位语的使用：
"And the stock market reacts positively when companies tie CEO pay to, say, stock prices, a sign that those practices build up corporate value not just for the CEO."
【解析】逗号后面的 `a sign` 是整个前文“股市反应积极”的同位语，表示一种迹象。而 `that` 引导同位语从句解释 `a sign` 的具体内容。此句总结了全文：重赏之下不仅是对CEO的肯定，更是公司价值的提升。
"And the stock market reacts positively when companies tie CEO pay to, say, stock prices, a sign that those practices build up corporate value not just for the CEO."
【解析】逗号后面的 `a sign` 是整个前文“股市反应积极”的同位语，表示一种迹象。而 `that` 引导同位语从句解释 `a sign` 的具体内容。此句总结了全文：重赏之下不仅是对CEO的肯定，更是公司价值的提升。