“Right now, rising executive pay and rising corporate profits are signs of an unbalanced economy,” said Brandon Rees, deputy director of the AFL-CIO.
The 2021 ratio of payments between CEOs and workers in the S&P 500 was the widest since 2018, when the federation was first able to track the figure based on new disclosures. The ratio was 299 to 1 in 2020.
Amazon.com Inc. CEO Andy Jassy’s total compensation of $212.7 million last year was 6,474 times that of his average worker. That was the highest ratio of all S&P 500 companies based on their latest disclosures, the AFL-CIO said.
An Amazon spokesman said Jassy’s compensation was “competitive with CEOs of other major companies.”
The highest-paid CEO of the S&P 500 was peter kernof the online travel company Expedia Group Inc. whose compensation amounted to 296.2 million dollars, according to the study.
An Expedia spokesman pointed to details of the company’s statement about Kern’s compensation, including that stock awards make up the majority of the salary package and will not be fully vested until at least 2026.
The Top CEOs benefited from big stock awards and cash bonuses last year. The federation found that the median compensation of S&P 500 CEOs rose 18% in 2021, while US consumer prices rose 7%.
Other federal figures cited by the AFL-CIO show nominal wages for workers increased 4.7% last year, but fell 2.4% adjusted for inflation.
Source: Ambito
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