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| "Anonymous vs. the 1 percent." (Photo by Stephen C. Webster) |
The median CEO pay package hit $10.5 million last year, according to the Associated Press, cracking eight figures for the first time since the wire service began calculating the statistic.
The median compensation number rose by 8.8 percent from 2012 and has now climbed by more than 50 percent over the past four years. By contrast, average weekly wages for working Americans rose just 1.3 percent last year, the AP notes. That disparity is all too typical of the modern U.S. economy. CEO compensation has increased 127 times faster than worker pay over the past three decades.
According to the wire service’s figures, the ratio of CEO pay to worker pay now stands at 257 to 1. That is a slightly more optimistic portrait of the relationship between earnings at the top and middle of the income distribution than other recent analyses. The real ratio of CEO to worker pay is more like 273 to 1, according to the Economic Policy Institute, and in some sectors of the economy it is as high as 1,200 to 1.
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