UFE and IPS: CEOs Make Too Much Money, Workers Make Too Little

United for a Fair Economy and the Institute for Policy Studies just released a report on CEO pay. The average CEO of a Fortune 500 company makes more in a day than the average worker does in a year. Are CEOs really worth 364 times as much as workers? CEO-WORKER PAY GAP: CEOs of large U.S. companies last year averaged $10.8 million in total compensation, over 364 times the pay of the average U.S. worker, a calculation based on data from an Associated Press survey of 386 Fortune 500 companies. The top 20 private equity and hedge fund managers, pocketed an average $657.5 million, Forbes magazine estimates. That's 22,255 times the pay of an average U.S. worker. Workers on the bottom rung of the economy have just received their first federal minimum wage increase in a decade. But the inflation-adjusted value of the new minimum, despite the hike, stands 7 percent below the minimum wage level a decade ago. CEO pay, in that decade, has increased over inflation by roughly 45 percent.
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