According to an Associated Press story on CEO compensation, the median national salary in 2011,was $39,312 while the median pay for CEOs was $9.587 million, or 244 times larger. And it's a gap that, thanks to the CEO pay arms race, will only widen. On average, the average worker got a 1 percent pay raise pay last year, all of which was eaten away by inflation, while pay for top executives rose 6 percent. If money's not your thing, how about time? "It would take the average U.S. worker nearly a month to make what the average CEO makes in an hour," the AP writes. The story is full of statistics that will make you feel poorer. For example, David Simon, of Simon Property, just made $732.73 in the minute it took you to read this.
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to firstname.lastname@example.org.