Monday, June 10, 2024

CEO Pay Nearly 200 Times that of Median Worker's

CNN reported:
The median CEO in the S&P 500 was paid 196 times as much as the median employee in 2023, according to an analysis by Equilar and The Associated Press. That’s up from a ratio of 185 in 2022.

CEO pay — which is closely tied to share prices — is rising notably faster than that of employees. Many workers, in fact, are struggling to keep up with the cost of living.

The annual pay hike amounted to about $4,300 for workers. For CEOs, it was an extra $1.5 million.
The story share legendary CEOs making 510 times to 672 times their company's median salary.  Everything is outsized in our PEU world.

The piece noted employees are likely frustrated over these obscene pay differentials.  At least it didn't call the workers lonely or disgruntled.  

Greed is insatiable.  
Greed is not only associated with immorality and unethical behavior in philosophy and religion, but has also been considered to be a cause of many financial problems and scandals
Share prices....Yes.  Many can recall CEOs cheated by backdating stock options under the "most pure of incentives."

Version One of the scheme had executives changing the date on the option to match the lowest stock price of the period.  Version Two had the stock price manipulated lower on the date of the option grant.

Those under greed's spell will never stop.  An ethical life is its own reward.