How corporations pumped up CEO pay while their low-wage workers suffered in the pandemic

Economy, Policies, Society

How corporations pumped up CEO pay while their low-wage workers suffered in the pandemic

During the pandemic, low-wage workers have lost income, jobs, and lives. And yet many of the nation’s top-tier corporations have been fixated on protecting their wealthy CEOs, even bending their own rules to pump up executive paychecks.

new Institute for Policy Studies report finds that 51 of the country’s 100 largest low-wage employers moved bonus goalposts or made other rule changes in 2020 to give their CEOs 29 percent average raises while their frontline employees made 2 percent less.

Among these 51 rule-rigging companies, average CEO compensation was $15.3 million in 2020, while median worker pay was $28,187 on average. The average CEO- worker pay ratio: 830 to 1.

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