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America's top CEOs pocket 340 times more than average workers
Source: The Guardian
America's top CEOs pocket 340 times more than average workers
Analysis by the AFL-CIO union found that chief executive officers
of the top 500 companies took home $12.4m on average while
they exported jobs overseas
Jana Kasperkevic in New York
Tuesday 17 May 2016 17.01 BST
The US’s top 500 chief executive officers earned 340 times the average worker’s wage last year, taking home $12.4m on average, according to a new report.
The analysis by the AFL-CIO, the largest federation of US unions, found that the pay of executives leading the S&P 500 index of top companies actually dipped last year. In 2014 the same group earned 373 times more than their workers, earning on average $13.5m.
The marginal drop in pay comes despite some eye-watering payouts for the three highest-paid CEOs – Masimo Corporation’s Joe Kiani, Timothy Walbert of Horizon Pharma and Gamco Investors’ Mario Gabelli – who took home nearly $3bn between them, according to the AFL-CIO.
The average production worker, who does not hold a supervisory role, earned about $36,900 a year in 2015. That number, based on Bureau of Labor Statistics data, encompasses workers across the US economy, not just the S&P 500 companies. Adjusted for inflation, that wage has remained stagnant for about 50 years.
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Analysis by the AFL-CIO union found that chief executive officers
of the top 500 companies took home $12.4m on average while
they exported jobs overseas
Jana Kasperkevic in New York
Tuesday 17 May 2016 17.01 BST
The US’s top 500 chief executive officers earned 340 times the average worker’s wage last year, taking home $12.4m on average, according to a new report.
The analysis by the AFL-CIO, the largest federation of US unions, found that the pay of executives leading the S&P 500 index of top companies actually dipped last year. In 2014 the same group earned 373 times more than their workers, earning on average $13.5m.
The marginal drop in pay comes despite some eye-watering payouts for the three highest-paid CEOs – Masimo Corporation’s Joe Kiani, Timothy Walbert of Horizon Pharma and Gamco Investors’ Mario Gabelli – who took home nearly $3bn between them, according to the AFL-CIO.
The average production worker, who does not hold a supervisory role, earned about $36,900 a year in 2015. That number, based on Bureau of Labor Statistics data, encompasses workers across the US economy, not just the S&P 500 companies. Adjusted for inflation, that wage has remained stagnant for about 50 years.
[font size=1]-snip-[/font]
Read more: http://www.theguardian.com/us-news/2016/may/17/ceo-pay-ratio-average-worker-afl-cio
