According to an annual report from the U.S. largest labor union federation, chief executives at S&P 500 companies made more than the median workers at their companies in the year 2021.
Tim Cook was paid nearly 100 million dollars last year.
The CEO-to-worker pay ratio is the highest it's been since the metric was first tracked by the union.
The highest paid CEO in the year was Peter Kern of Expedia, followed by Andy Jassy of Amazon and Patrick Gelsinger of Intel.
According to the study, Jassy's compensation was 6,474 times more than Amazon's median worker.
The compensation package of Jassy was similar to that of Cook, who received $83 million worth of vested stock in his company last, according to an Amazon spokesman.
According to an analysis by the Economic Policy Institute, CEO compensation increased 1,322.2% from 1978 to 2020 compared to an 18% increase in worker compensation. The gap in compensation was found to have been accelerated by the Covid-19 epidemic. According to the Times survey of the 200 highest-paid CEOs of public companies, CEO compensation increased by 14.1% over the course of the year. Worker wage growth in 2020 has been hampered by elevated consumer prices.
The theme of the new report is "greedflation," a nod to growing executive pay as inflation is at its highest level since 1981.
The Institute for Policy Studies found that CEOs made 670 times more than median workers in 2021, up from the 604-to-1 ratio of the previous year. The study looked at companies that mostly employed low wage workers.
A new union report says CEO pay is much higher than wages.
A new survey shows that the gap between CEO and worker pay continues to widen.
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