Corporate Boards and the CEO incestuous relationship in our economy, one that rewards pushing paper more so than work, worth, and intellect, will continue pilfering us all until we decide to spine-up and challenge the status quo.
The guardians of our economic system pre-programmed us since birth to just accept the current economic model that makes the CEO a deserving king. Sadly, we are the ones who are responsible for the ultimate success of most.
The AP article below is concerning. We continue to increase the pay of the least deserving as most American workers are treading water.
CEOs get $800,000 pay raise, leaving workers further behind
NEW YORK (AP) — Did you get a 7% raise last year? Congratulations, yours was in line with what CEOs at the biggest companies got. But for chief executives, that 7% was roughly $800,000.
Pay for CEOs at S&P 500 companies rose to a median of $12 million last year, including salary, stock and other compensation, according to data analyzed by Equilar for The Associated Press. The eight-figure packages continue to rise as companies tie more of their CEOs’ pay to their stock prices, which are still near record levels, and as profits hit an all-time high last year due to lower tax bills and a still-growing economy.
Pay for typical workers at these companies isn’t rising nearly as quickly. The median increase was 3% last year, less than half the growth for the top bosses. Median means half were larger, and half were smaller.
The survey showed that it would take 158 years for the typical worker at most big companies to make what their CEO did in 2018, seven years longer than if both were still at 2017 pay levels. And when top executives are already making so much more than their employees, the bigger percentage raises compound the widening financial gap.
Source: CEOs get $800,000 pay raise, leaving workers further behind