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On the First Workday of the New Year, the Average CEO Will Make More Than an Average Workers Earns in an Entire Year

Anderson, Sarah
http://www.counterpunch.org/2022/12/27/on-the-first-workday-of-the-new-year-the-average-ceo-will-make-more-than-an-average-workers-earns-in-an-entire-year/

Publisher:  Counterpunch
Date Written:  27/12/2022
Year Published:  2022  
Resource Type:  Article

If the typical CEO of a large U.S. corporation clocks in at 9 am on January 2, by 3:37 pm that afternoon he'll have earned $58,260 - the average annual salary for all U.S. occupations.In other words, in less than seven hours on the first workday of the New Year, that CEO will have made as much as the average U.S. worker will make all year.

Abstract: 
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Excerpt:

These figures are disturbing, but the good news is that Americans increasingly reject the old myth that CEOs make so much money because they're just that much smarter and harder-working than the rest of us. Public outrage over these extreme pay gaps is now so high that a majority of Americans across the political spectrum favor a cap on CEO pay relative to worker pay, regardless of company performance.

We are seeing broadening support for an array of strategies to address these obscene pay gaps, including proposals to use tax and contracting policies to rein in executive excess. In the New Year, let's commit to building on this momentum towards a more equitable economy.

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