US CEOs earn 278 times more than their workers
WASHINGTON, Aug 15: The top executives at large US companies are paid 278 times more than their company's workers and the gap continues to widen, according to a study published Wednesday.
Average CEO compensation at the 350 largest US firms in 2018 was $17.2 million a year, including stock options, which generally account for two-thirds of their pay packages, according to a study by the Economic Policy Institute.
The gap between CEO and workers has soared from 58-to-1 in 1989 and 20-to-1 in 1965, according to EPI, a nonpartisan think tank that focuses on issues facing low- and middle-income workers.
From 1978 to 2018, CEO compensation has increased by more than 1,000 per cent -- with increasingly rich stock awards -- while worker pay has risen just under 12 per cent.
"The economy would suffer no harm if CEOs were paid less (or taxed more)." -AFP