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CEO Pay Hits Wild Milestone

AFL-CIO president blames 'income inequality crisis' on CEOs
By Neal Colgrass,  Newser Staff
Posted May 13, 2015 5:50 PM CDT
Updated May 13, 2015 6:20 PM CDT
CEO Pay Hits Wild Milestone
Wal-Mart President and Chief Executive Officer Doug McMillon speaks during an interview with The Associated Press on Tuesday, Feb. 17, 2015, in Bentonville, Ark.    (AP Photo/Gareth Patterson)

(Newser) – So what was the average CEO paycheck like last year? Oh, just 373 times higher than your average worker's, up from 331 times higher the year before, according to a new report by the labor organization AFL-CIO. That means the average S&P 500 company chief made $13.5 million in pay last year compared to $36,000 for your typical "technical and nonsupervisory worker," reports Mashable. Walmart was singled out for CEO Doug McMillon's $19.4 million, which is a stunning 810 times higher than the average Walmart employee salary, CNBC notes. "America faces an income inequality crisis because corporate CEOs have taken the raising wages agenda and applied it only to themselves," says AFL-CIO President Richard Trumka. His solution? Let shareholders decide what CEOs should make, he tells CNBC. (Read more CEO compensation stories.)

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