And the inequality is getting worse, in and out of the tech sector. While CEOs at the 350 biggest U.S. companies earned an average pay of $18.9 million in 2017—a steep 17% increase from the previous year—wages for the average U.S. worker grew just 0.2% during that period, according to a new study by the Economic Policy Institute.
Fast Co.Exist
August 20, 2018
The latest evidence came Thursday from the liberal-leaning Economic Policy Institute, which found that CEO pay at the biggest American corporations skyrocketed another 18 percent in 2017, to a lofty average of $18.9 million, much of that fueled by stock options and buybacks. And hey, everybody deserves a raise, right? But here’s the thing: While CEOs have seen their salaries soar 72 percent during the comeback from the Great Recession — 2009-2017 — the average workers has gotten a measly 2 percent raise, according to the EPI.
Common Dreams
August 20, 2018
Not that it comes as any particular surprise in the era of Trump, but there’s a new report out from analysts at the Economic Policy Institute that documents a remarkable new surge in pay for American CEO’s in 2017. The report finds that: “…in 2017 the average CEO of the 350 largest firms in the U.S. received $18.9 million in compensation, a 17.6 percent increase over 2016. The typical worker’s compensation remained flat, rising a mere 0.3 percent. The 2017 CEO-to-worker compensation ratio of 312-to-1 was far greater than the 20-to-1 ratio in 1965 and more than five times greater than the 58-to-1 ratio in 1989 (although it was lower than the peak ratio of 344-to-1, reached in 2000). The gap between the compensation of CEOs and other very-high-wage earners is also substantial, with the CEOs in large firms earning 5.5 times as much as the average earner in the top 0.1 percent.” (whole post)
The Progressive Pulse
August 20, 2018
Chief executive officers at the United States’ 350 largest companies earned substantially more last year than did average employees, an economic analysis showed Friday. CEOs have always made more than typical workers, but the study showed the gap is increasing.(whole article)
UPI
August 20, 2018
The report from the Economic Policy Institute, a non-partisan Washington think-tank, calculates that the big-boss-to-worker compensation ratio in America now stands at 312-to-1, five times higher than the 58-to-1 ratio in 1989 and nearing the 344-to-1 peak set during the 2000 dot-com boom. Having grown almost 72 per cent since 2009, executive pay packets now sit just 3.3 per cent below their pre-Great Recession mark.
CBC
August 20, 2018
Top U.S. corporate execs today, on average, are doing even better than top execs in Welch’s heyday. In 1999, notes a just-released new report from the Economic Policy Institute, CEOs at the nation’s 350 biggest corporations pocketed 248 times the pay of average workers in their industries. Top execs last year averaged 312 times more.
Common Dreams
August 20, 2018
The American economy is booming — especially if you’re a CEO. Earnings for the top executives at America’s largest companies skyrocketed in 2017, while wages for the average worker hardly budged. CEOs for the 350 largest US companies earned an average pay of $18.9 million in 2017, a sharp 17 percent increase from the previous year, according to a new study by the left leaning Economic Policy Institute. These estimates include salaries, bonuses, restricted stock grants, cashed-in company stock, and other forms of compensation for chief executives at those firms. Meanwhile, wages for the average US worker grew a paltry 0.2 percent during that time. (whole story)
VOX
August 17, 2018
The average chief executive at the 350 biggest American companies made 17.6 percent more last year than in 2016 ― a huge raise for people already making several million dollars a year. That’s according to a new analysis by nonpartisan think tank the Economic Policy Institute, which pegged the average compensation for a CEO at a large company at $18.9 million in 2017 ― or 312 times the average worker’s pay. That figure, by contrast, increased by a paltry 0.3 percent. (whole story)
The Huffington Post
August 17, 2018
CEOs at the 350 largest U.S. companies received 312 times as much in compensation as typical employees in 2017, according to a study released Thursday. The average chief executive received $18.9 million last year, a 17.6 percent increase from 2016, as the wages of a typical worker rose just 0.3 percent, according to research by the Economic Policy Institute, a Washington-based think tank. (whole story)
ABC News
August 17, 2018
Wages for most American workers have flattened or declined — except for one very select group. The people whose job it is to run companies, otherwise known as CEOs, saw a 17 percent raise last year, according to a new analysis from the Economic Policy Institute. Meanwhile, pay for the remainder of workers grew by a fraction of one percent. The typical CEO made 312 times the earnings of the typical worker, according to the left-leaning EPI. (whole story)
CBS News
August 17, 2018