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New Report: CEOs Making 347 Times More than Average Workers
CEO pay for major U.S. companies has risen nearly 6 percent, as income inequality and outsourcing of good-paying American jobs have increased. According to the new AFL-CIO Executive PayWatch report, the average CEO of an S&P 500 company made $13.1 million per year in 2016 – 347 times more money than the average rank-and-file worker.
The Executive PayWatch website, a comprehensive searchable online database tracking CEO pay, shows that in 2016, the average production and nonsupervisory worker earned approximately $37,600 per year. When adjusted for inflation, the average wage has remained stagnant for 50 years.
According to the report, AT&T CEO Randall Stephenson made over $28 million in 2016 – 755 times more than the average rank-and-file worker. Verizon CEO Lowell McAdam, pulling in almost $18 million in 2016, made 469 times the salary of an average worker. CenturyLink CEO Glen F. Post made almost $14 million in 2016 – 371 times more than an average worker.