The
chief executives of McDonald's and Starbucks earn more than $9,200 an
hour, which is at least 1,000 times the hourly wages of their sales
associates, according to a new report by the personal finance website
NerdWallet.
The
report highlights fast food and retail companies with some of the biggest gaps between CEO pay and hourly wages paid to associates.
McDonald's,
Starbucks and Dollar General top the list, followed by Gap, TJ Maxx,
Target, Wal-Mart, CVS Caremark, Best Buy and AT&T Wireless.
Out
of those 10 companies, median CEO pay on an hourly basis was calculated
as $7,334, compared to $8.73 for sales associates. NerdWallet reviewed
100 companies for the report and selected the 10 that had the highest
annual CEO pay to compare the disparities.
CEO pay was calculated
by dividing each chief executive's total compensation (as reported in
the company's annual proxy statement) by 60 hours a week times 50 weeks
per year. Sales associates' wage information was obtained from
Glassdoor.com.
The NerdWallet study comes as employees of fast food and retail chains have been
staging a series of demonstrations and strikes demanding better pay.
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