$10 million a year: the average salary of an American CEO
If you weren’t sold on the whole Occupy Wall Street thing before, then listen up — despite the United States still in the process of picking itself out of a major recession, the average corporate CEO raked in nearly $10 million apiece in 2011.
The results of a study published on Friday by the Associated Press reveal that, on average, the chief executive officers at public companies raked in around $9.6 million each last year.
But how does that rack up when compared to the average American? The median pay for a worker in the US in 2011 was clocked in at only $39,300 last year.
The AP has analyzed the payouts from 2011 issued to CEOs of public companies to come to these results and, for the average American, the findings may be beyond depressing. The highest CEO, in fact — David Simon — brought in $137.2 million last year, a 458 percent increase from the year before.
Replies to This Discussion
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Permalink Reply by Mr. K on
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The amount of money someone one makes is determined by the market, if they bring that much more to a company GREAT!!! If they undermine the constitution and knowingly allow people to be harmed -hang em!
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Permalink Reply by Jude on
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Unless we become a communist nation, these high salaries will continue. The only other way to end this is for the investors to say no more.
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Permalink Reply by Sue Young on
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A chief reason for the disparity is corporatism- the major corporations effectively hold monopolies in various industries (often overlapping) and can engage in price fixing and manipulating political policies and the judiciary to their benefit.
I am a libertarian, and favor free markets. But what we have here is something very hostile to that idea.
These major corporations pay effectively no taxes at all, particularly when weighed against the benefits they enjoy through various government subsidies and market protection. They use these advantages to offshore American industry, smother any viable competition, and reward their executives with huge salaries.
Nope- they didn't earn it. Bring back the anti trust laws.
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