CEO-worker pay gap jumps in 2021 - study
STORY: CEO-worker pay gap jumps in 2021 - study
Source: Institute for Policy Studies
The CEO-worker pay gap at U.S. firms with the lowest median wage widened last year
A study by IPS looked at 300 publicly listed companies
And found the average CEO pay in the group climbed $2.5M to $10.6M
Median worker pay rose $3,556 to $23,968
The average gap was 670 to 1, up from 604 to 1 the previous year
The study will give new ammunition to investors who push for social justice causes
Sarah Anderson, IPS Global Economy Project Director:
"During the pandemic, low-wage workers have demonstrated how essential they are to the functioning of our economy. With profits rising in 2021, corporations had an opportunity to make a big leap towards greater pay equity."
Source: Institute for Policy Studies
At 106 of the companies, median worker pay failed to keep pace with the average U.S. inflation rate
Of that group, 67 companies spent a combined $43.7 bln on share buybacks, boosting CEOs' stock-based pay
