The average CEO pay rose by 31% to $10.6 million a year versus an increase of 17% to $23,968 for their workers, a new study says.
The pay gap between CEOs and their workers grew wider last year among companies paying the lowest wages.
The average gap between CEO and median worker pay jumped to 670 to 1, up from 604 to 1 in 2020, according to a new report by the Institute for Policy Studies , a progressive think tank based in Washington D.C. The report looked at the 300 publicly-held U.S. corporations that had the lowest median wages in 2020. Among the 300 companies, 49 had ratios of CEO-to-worker pay above 1,000 to 1.
Those regarded as essential workers during the pandemic, including call-center operators and warehouse workers, received the lowest wages, IPS found. “Throughout the pandemic, essential workers have labored heroically. But while workers risked their lives, bosses have reaped the rewards,” Anderson and Pizzigati wrote.
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