U.S. CEOs earn 343 times more than typical workers
Just in case you’re wondering where that money went that your former employer saved by offshoring your job…. 
The GOOD news?
This figure is DOWN from 525 times the pay of the average worker seen in 2000! Yeah, the recession must have affected those CEOs a tiny bit….
Richard Trumka, AFL-CIO president said:
“Despite the collapse of the financial market at the hands of executives less than 3 years ago, the disparity between CEO and workers’ pay has continued to grow to levels that are simply stunning.”
The AFL-CIO looked at CEO salaries at 299 firms traded on the S&P 500. The compensation of these CEOs was UP 23% in 2010, as compared with 2009. Bureau of Labor Statistics data was used to define the pay of the typical American worker, which was $33,190 for all occupations in 2009, which is the most recent year for which data are available.
The Web site, paywatch.org, which is run by the union group, will eventually post CEO pay for all 500 companies, as data is released in proxies submitted to the Securities and Exchange Commission (SEC).
Publicly traded companies will soon have to start disclosing the ratio of CEO pa to the median pay of all company employees, as part of the Wall Street reform bill. The SEC has yet to implement the new law that will require the disclosure but is inviting public comment. New York Republican Representative Nan Hayworth filed a bill last month to REPEAL the disclosure rule (ah yes, another Republican working in the public interest ) calling the rule “burdensome” for placing an “unnecessary logistical and cost burden on all publicly traded companies.” Yep, “burdensome….”
“Apparently Wall Street doesn’t want people to know that while working Americans paid for the economic crisis with their jobs, their homes and their retirement savings, these Teflon CEOs escaped unscathed.”
The CNN Money article provides links to the “20 Highest-paid CEOs” and the “25 Highest-paid women.”
-Bill at
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