SP 500 CEOs Make 268 Times More Than Their Median Workers

Income Inequality at Historic Highs

The latest report from the AFL-CIO reveals a shocking disparity in compensation between CEOs and median workers at SP 500 companies. In 2023, the average CEO earned a staggering $177 million, a figure that is 268 times higher than the median worker's total compensation.

A Lifetime of Earnings in Five Years

This extraordinary gap means that it would take a median worker more than five career lifetimes to earn what a CEO makes in a single year. This extreme inequality highlights the widening income gap in the United States and the growing concentration of wealth at the top of the economic ladder.

Companies Prioritizing Excesses Despite Economic Challenges

The report also found that SP 500 companies increased CEO pay by 6% in 2023 while simultaneously raising prices on consumers. This suggests that companies are prioritizing the enrichment of their executives at the expense of their customers and employees, despite economic challenges.

Case Studies in Extravagance

The report highlights several extreme examples of CEO-worker pay gaps. For instance, the CEO of Abercrombie & Fitch earned a staggering 6,076 times more than the median employee in 2023.

Call for Reform

The AFL-CIO report underscores the need for urgent action to address income inequality. It calls for policies that promote fair pay, reduce the excessive compensation of CEOs, and ensure that all workers share in the success of the economy.