Economic Snapshot

Pay of top restaurant industry CEOs in 2012 averages 788 times the minimum wage

Chief executive officers at the largest firms in the restaurant and hospitality industry have done extremely well financially, even as many of their employees have struggled to get by.  Compared to the minimum wage—$15,080 if earned full-time, full-year—the $11,884,000 average pay of these restaurant CEOs in 2012 is astronomical—788 times higher. These corporate CEOs earn more on the first morning of the year than a minimum wage worker will earn over the course of a full year.

The trade association that represents these CEOs, the National Restaurant Association, has vehemently opposed any increase in the minimum wage.  The figure below raises the question: Who in the restaurant industry needs and deserves a raise?

Relatedly, this recent EPI analysis examines overall CEO compensation relative to average worker pay in the United States.

See more work by Dan Essrow, Natalie Sabadish, and Ross Eisenbrey