550

CEO pay has skyrocketed 1,460% since 1978(www.epi.org)

posted
by
Avatar
eee@lemm.ee
in
Avatar
workreform@lemmy.world
51 comments
hidereport

“average top CEO compensation was $15.6 million in 2021, up 9.8% since 2020. In 2021, the ratio of CEO-to-typical-worker compensation was 399-to-1 under the realized measure of CEO pay; that is up from 366-to-1 in 2020 and a big increase from 20-to-1 in 1965 and 59-to-1 in 1989”

Sort:
HotTopControversialNewOld
You are viewing a single thread.
View all comments View context
Avatar
SCB@lemmy.world
-4 points
*

Cutting CEO pay would not affect worker pay that much.

Fortune 500 CEOs make, on average, about 17MM a year. The average Fortune 500 company has 52k employees.

If you split their entire paycheck among just the bottom 50% of employees you’re looking at like $3 per hour. That’s… okay. But now you don’t have a CEO, and this isn’t really sustainable with any sort of inflation.

If you instead raise prices one cent on whatever product or service, you almost certainly will have more money to divvy up among employees, and it’s sustainable.

Worth noting I’m for a federal cap on CEO pay but that’s more to address the runaway nature of the CEO market, and its downstream effects.

permalink
report
parent
reply
Avatar
pthaloblue@sh.itjust.works
8 points

Giving everyone a $3/ hr pay bump from eating an overpaid CEO sounds like a pretty great start

But now you don’t have a CEO

Added bonus!

permalink
report
parent
reply
Avatar
SCB@lemmy.world
-3 points

Except in the real world that is not a bonus.

permalink
report
parent
reply
Avatar
soundoftheunheard@lemmy.ml
3 points

I think your decimal may be off. For full time work, looks like ~36 cents per hour, assuming full time. But, for many it would be even worse. For Walmart, completely eliminating the CEO pay could increase the bottom 50% earners annual income by a whopping $22.

I agree with the overall sentiment tho. More than what this article shows, I’d be interested to see the percentage and dollar amount increase in disposable income among various cohorts within the top 10 percent incomes.

permalink
report
parent
reply

Work Reform

!workreform@lemmy.world

Create post

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

  • All workers must be paid a living wage for their labor.
  • Income inequality is the main cause of lower living standards.
  • Workers must join together and fight back for what is rightfully theirs.
  • We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

  • Higher wages for underpaid workers.
  • Better worker representation, including but not limited to unions.
  • Better and fewer working hours.
  • Stimulating a massive wave of worker organizing in the United States and beyond.
  • Organizing and supporting political causes and campaigns that put workers first.

Community stats

  • 3.6K

    Monthly active users

  • 952

    Posts

  • 17K

    Comments

Community moderators