CEO pay hits $10 million, 257 times worker pay.

[theHandpuppet]

The Christian Science Monitor
CEO pay hits $10 million, 257 times worker pay. The gap's been bigger.
CEO pay in the US surpassed eight figures for the first time, according to a new study. The typical CEO now makes 257 times more than the average worker, whose wages have barely budged in recent years.
By Schuyler Velasco, Staff writer / May 27, 2014

In the economy’s emergence from the Great Recession, the recovery of the nation’s corporations and top earners easily has been the most robust. It will surprise few, then, that chief executive officers have become an eight-figure earnings group for the first time.

Annual pay among CEOs at large public companies reached a median $10.5 million in 2013, according to a study released Tuesday by the Associated Press and Equilar, a company that tracks executive compensation packages. The report, which examined regulatory filings of compensation packages for 337 company heads, found that CEO pay was up 8.8 percent, from a median $9.6 million in 2012.

It was the fourth straight year of gains following the recession, and now the typical CEO makes over 257 times the salary of an average worker in the US.

Most of the surge came because of stocks, which jumped 17 percent in value as part of compensation packages. The stock market was a key driver of economic growth in 2013, hitting record highs and gaining back everything it lost during the recession. Stocks on the Standard & Poor’s 500, for instance, jumped 30 percent last year. CEOs had a median $4.5 million in stocks last year, according to the study....

MORE at http://www.csmonitor.com/Business/2014/0527/CEO-pay-hits-10-million-257-times-worker-pay.-The-gap-s-been-bigger

[LanternWaste]

1. That is a seriously dramatic redistribution of money over the years....

That is a seriously dramatic redistribution of money over the years....

[redqueen]

2. This is unsustainable. nt

[theHandpuppet]

4. I know this is drifting off the subject a bit

But do you notice any kind of revealing pattern in the list of companies where the gap between CEOs and workers is the largest? (See post #3)

[theHandpuppet]

3. Related article: CEO vs. worker pay: Walmart, McDonald’s, and eight other firms with biggest gaps

http://www.csmonitor.com/Business/2013/1212/CEO-vs.-worker-pay-Walmart-McDonald-s-and-eight-other-firms-with-biggest-gaps/AT-T
The Christian Science Monitor
CEO vs. worker pay: Walmart, McDonald’s, and eight other firms with biggest gaps

Worker pay has been a big story in 2013, with worker strikes in the retail and fast-food industries putting a harsh light on anemic wage gains alongside ballooning corporate profits. Now, a new study from NerdWallet and Glassdoor.com highlights just how vast the wage gap is in major US companies, comparing how much the United States' highest-paid chief executives make in an hour with the average hourly wage of their employees. Can you guess which company had the highest pay gap?

I won't cut and paste the whole article here but will list the 10 companies where the gap is widest and in the order they appear in the piece.

10. AT&T
9. Best Buy
8. CVS Caremark
7. WalMart
6. Target
5. TJ Maxx
4. Gap Inc.
3. Dollar General
2. Starbucks
1. McDonalds

[stevenleser]

5. More deets: That is MEDIAN CEO pay at large public companies

That makes it worse, IMHO, because that means half of the CEOs of these companies make more than that.