The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets.
The median pay package for CEOs rose to $16.3 million, up 12.6%, according to data analyzed for The Associated Press by Equilar. Meanwhile, wages and benefits netted by private-sector workers rose 4.1% through 2023. At half the companies in this year’s pay survey, it would take the worker at the middle of the company’s pay scale almost 200 years to make what their CEO did.
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This sort of data has been published repeatedly, for decades. Proof that “supply side economics” has had the desired effect: concentration of progressively more loot in the hands of progressively fewer. Ideology dictates it is all about the care and feeding of the “JCs”. The rest of us are costs to be minimized.
Steve
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