US income gap widens between staff and management as executives report record earnings
The US income gap between staff and management has widened this year, after executives reported record earnings over the last 12 months.
According to information supplier ISS Company Options, more than half of S&P companies, the median pay for a chief executive went up from $13.5m in 2020 to$14.2m last year, the Financial Times reported.
Knowledge firm Equilar reported instead the median pay for chief executives of 196 corporations grew 20 per cent – a 245 increase compared to the average worker’s salary and up from 192 per cent in 2020.
“It might be the most important year-over-year improve because the ratio grew to become a required Securities and Alternate Fee disclosure through the 2018 proxy season,” said Equilar.
Discovery’s David Zaslav as well as Amazon’s Andy Jassy feature among those who had the biggest pay raise.
Last week, Amazon reported that Jassy’s $212.7m was 6,474 times more than the average Amazon worker. In the last year as the company’s chief executive, Bezos made 58 times more than employees.