Median CEO pay among S&P 500 companies rose 13% in the last year to roughly $16.3 million.
Median CEO pay hit $16.3 million in 2023, or nearly 200 times the typical worker's wages for the year, according toWorkers, on the other hand, saw wages rise by 5.2% in the last year, just above the rate of inflation, with some of the biggest gains going toward the lowest-paid workers. The median S&P 500 employee earned $81,467 in 2023.. In 2022, CEO s made roughly 185 times their typical worker; with the jump in 2023 numbers, CEO s now make roughly 196 times their employees.
CEO pay is generally decided on by shareholders, who in the last four years have overwhelmingly voted in support of executive compensation plans, according to Equilar data., compared with an 15% bump for the typical worker over this time period, according to the left-leaning Economic Policy Institute.
As it stands now, Batish expects CEO pay to continue to outpace growth in median worker pay but notes that CEO stock compensation isn't a guarantee — CEOs may not be able to cash in on their stock awards for years, if at all, unless they meet certain targets in their stock value or operating profits. Meanwhile, median employee pay is in cash salaries and bonuses, "making the comparison difficult at times.
This widening gap could be a reason why Americans are dissatisfied with the economy, says Sarah Anderson, who directs the Global Economy Project at the progressive Institute for Policy Studies.
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