Sunday, May 27, 2012

Average CEO Makes 244 Times Average Worker's Salary

Income inequality, anyone? The AP’s Seth Borenstein compares the median CEO salary to that of a minimum wage worker and a person making the national average salary. As you ponder the following, remember that, according to the Republicans, we should neither raise taxes on the wealthy nor raise the minimum wage:

The median CEO salary of $9.587 million [according to an analysis by the Associated Press]:

HOW LONG IT TAKES OTHERS TO MAKE THAT MUCH: A minimum wage worker would have to work 636 years to make that much. A person making the national average salary [$39,312 by AP calculations] would have to work 244 years to make the median CEO salary.

BY THE HOUR: If you assume the CEO works a 60-hour week, the pay comes to $3,072.84 per hour, or $51.21 per minute. To put that in perspective, the minimum wage worker would have to labor more than 10 weeks to make what the median CEO earns in an hour. It would take the average U.S. worker nearly a month to make what the average CEO makes in an hour.

Image: Mike Luckovich, Atlanta Journal Constitution


Michael The Molar Maven said...

I've always believed that President Jimmy Carter was criticized unjustly when he spoke about a moral equivalent of war.

Jeff Tone said...

Not sure how your comment relates to the article...