The days of Michael Eisner’s $200 million plus compensation package is long gone. The new Disney board has tied compensation closer to performance on the job. But when you’re Disney CEO you still earn based on the overall company’s performance. Considering how well The Walt Disney Company did in 2011, I don’t think any Disney exec will be hurting.

The 2011 compensation package for Disney’s current CEO Bob Iger was just released and it totaled $31.4 million. One thing that concerns me is how compensation and growth are aligned. There’s incentive to only focus on projects that will expand the reach of the company, possibly to the detriment of existing projects that can chug along for a few years on their own making money before any real downturn is noticed.

My other concern is how the frontline employees are being rewarded for a record year? That’s not indicated in this release, but I doubt that they’re all getting double-digit raises like Iger did.

What do you think of Iger’s 2011 paycheck? Is it too much?