America’s Top CEOs Pocket 340 Times More Than Average Workers
Masimo Corp. founder and CEO Joe Kiani
The top 500 chief executive officers in American companies earned 340 times the average worker’s wage last year, taking home $12.4m on average, according to an analysis by the AFL-CIO, reports The Guardian.
The union’s analysis found that the pay of executives leading the S&P 500 index of top companies actually dipped last year. The figure in 2014 for the same group was 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 Guardian story says.
The average production worker who does not hold a supervisory role,earned about $36,900 a year in 2015.
