For Immediate Release: Monday, April 30, 2012
Contact: Phoebe Silag or Karen Conner, firstname.lastname@example.org 202-775-8810
Apple’s nine-person executive team received 2011 compensation equivalent to that of 95,000 workers making its products
In 2011, Apple’s nine-person executive team received total compensation equivalent to an estimated 95,000 Foxconn factory workers who assemble Apple products, a new EPI analysis shows. The nine executives received total compensation of $441 million, while the average monthly compensation for non-supervisory Foxconn employees is 2422 RMB, or $385. In Comparing the pay of Apple’s top executives to the pay of the workers making its products, Isaac Shapiro, an EPI research associate, examines executive pay at Apple in light of the findings of the recent Fair Labor Association audit of working conditions at Foxconn factories in China.
For 2012, the executive team is on track to receive compensation of at least $412 million, or the compensation of 89,000 Foxconn factory workers making Apple products.
“Many of the workers who make Apple’s products work long hours in harsh conditions,” Shapiro said. “The magnitude of the compensation of Apple’s executives is one of many indicators demonstrating that Apple has ample resources to treat these factory workers better.”
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