CEOs Pay Themselves What?
From the AFL-CIO
CEO pay soars to 361 times that of the average U.S. rank-and-file worker, according to the AFL-CIO’s new Executive Paywatch released this week.
The Executive Paywatch is the most comprehensive searchable online database tracking CEO pay. For the first time, thanks to new disclosure rules fought for and won by the labor movement, Paywatch now includes company-specific pay ratio data.
The AFL-CIO’s Executive Paywatch provides startling new data on CEO pay and the inequality that persists in America:
- The CEO-to-worker pay ratio grew from 347 to 1 in 2016 to 361 to 1 in 2017.
- CEO pay at S&P 500 Index companies is up 6.4%, to a total of $13.94 million in 2017.
- The average S&P 500 CEO in the retail industry made 791 times that of the average median pay of their employees last year.
- When adjusted for inflation, the $38,613 wage of production and nonsupervisory workers, on average, has remained stagnant for more than 50 years.
- 989 to 1: That’s the ratio of pay between the average worker and Dirk Van de Put, the new CEO of Mondelēz, the corporation that’s outsourcing the production of Oreos and other all-American snacks to Mexico while destroying thousands of good-paying union jobs. Van de Put made more than $42.4 million in total compensation in 2017.
“Too many working people are struggling to get by, to afford the basics, to save for college, to retire with dignity, while CEOs are paying themselves more and more,” AFL-CIO Secretary-Treasurer Liz Shuler told reporters on a call this morning.
This new data highlights why the AFL-CIO is leading a massive and growing movement to write new economic rules to raise pay for workers so our families and communities can thrive.
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