Bank of New York Mellon executive Thomas A. Renyi topped the Post-Gazette's Fortunate 50, the second consecutive year an executive from the bank led the list of the region's highest-paid executives.

Mr. Renyi, the bank's executive chairman, was paid $28.5 million in 2007, $1.5 million more than the runner-up, Alcoa Chairman and Chief Executive Officer Alain J.P. Belda.

Bank of New York Mellon CEO Robert P. Kelly, the previous year's champ, fell to No. 4. He and Mr. Renyi were two of five Bank of New York Mellon executives in the Fortunate 50 Top 10.

American Eagle Outfitters executive James V. O'Donnell, last year's second highest-paid executive, tumbled to No. 15 this year with total compensation of $14.4 million.

The South Side teen retailer accounted for the only female on the exclusive roster: President Susan P. McGalla, who ranked 41st with total compensation of $5.8 million. She fell six spots from the previous year, when two females qualified for the Fortunate 50.

Ms. McGalla has made the Fortunate 50 four years running, but her days on the list may be numbered. American Eagle announced last month that her contract would not be renewed when it expires in January.

The average Fortunate 50 member received compensation of $11.5 million last year, with grants of options and restricted stock accounting for 45 percent of their pay. Based on the latest U.S. census figures, it would take 239 families earning the U.S. median household income to earn as much as the average Fortunate 50 executive.

Combined, the Fortunate 50 received total compensation of $576.6 million. That's nearly $2 million more than is budgeted for building the University of Pittsburgh Medical Center's new Children's Hospital in Lawrenceville, but about $200 million shy of what it will take to build the Majestic Star Casino on the North Shore.

Put another way, the combined compensation of the Fortunate 50 is comparable to what Walt Disney paid former CEO Michael Eisner in 1998.

On average, Fortunate 50 executives received nearly $1.3 million in pension benefits or deferred compensation benefits last year. It would have taken 82 workers contributing the maximum $15,500 to their 401(k) plan last year to produce an equivalent amount of retirement benefits.

Total compensation figures exclude income that executives realized last year from stock options and restricted stock awarded in prior years. If the value executives generated from those incentives last year were included, Dick's Sporting Goods Chairman, President and CEO Edward W. Stack would have led the pack at $59.5 million. Mr. Belda would have maintained the No. 2 spot at $51.7 million.

Three executives made the Fortunate 50 even though their shareholders lost money over the last one-, three- and five-year periods.

They were paced by Mylan CEO and Vice Chairman Robert J. Coury, whose $15 million compensation was good enough for 13th place. Mr. Coury's compensation reflects only nine months of pay because the Cecil generic drug maker was in the process of changing its fiscal year, which previously ended in March, to a calendar year.

The other two executives -- No. 48 James R. Bell and No. 50 Peter E. Raskind -- represent National City. The subprime mortgage crisis sent the Cleveland-based bank's shares down 55 percent last year.

As the lowest-paid of the Fortunate 50, Mr. Raskind made $4.5 million, about what Pittsburgh Steelers offensive tackle Marvel Smith will make this season.

Allegheny Technologies, the company that generated the heftiest returns for shareholders over the last five years, placed five executives on the Fortunate 50. The feat was topped by Bank of New York Mellon, which had six executives qualify. FedEx also was represented by five executives, followed by H.J. Heinz and PNC Financial Services Group, which each had four executives qualify.