CEOs Made Nearly 200 Times More than their Workers earned last year
Written by Site Hub on June 5, 2024
In 2023, CEO compensation packages for S&P 500 companies surged by nearly 13%, far outpacing the 4.1% wage increase for private-sector workers amid rising inflation. The median CEO pay reached $16.3 million, making the typical CEO earn nearly 200 times more than their median employee. Economic resilience and robust profits bolstered stock prices, leading to significant rewards for CEOs. Broadcom’s CEO, Hock Tan, topped the pay chart with $162 million, primarily from stock awards. This growing pay disparity fuels public dissatisfaction, highlighting the vast income gap and concerns over economic inequality. While shareholder approval of executive compensation remains high, there are occasional rejections and ongoing debates over fair pay practices. Women, though still underrepresented, saw a notable increase in median pay, led by Lisa Su of AMD at $30.3 million.
Source: AP News
