Institute for Policy Studies – The “Low Wage 100” corporations are enriching CEOs at the expense of workers and long-term investment.
At a time of intense political divisions, Americans across the political spectrum share enormous common ground on at least one problem facing our nation: the extreme CEO-worker pay gaps at our country’s largest corporations. This report focuses on these big pay-gap companies. The 100 S&P 500 corporations with the lowest median wages — the Low-Wage 100 — last year paid their CEOs an average 538 times what they paid their most typical workers, we found. Extreme pay disparities lower employee morale and productivity and raise turnover rates. They also widen gender and racial disparities, since women and people of color make up a disproportionately large share of low-wage workers and a tiny share of corporate leaders. Can Americans transcend our differences and come together to tackle these obscene pay divides? Our Executive Excess report last year related how public outrage over corporate pay gaps is helping unions win strong new contracts at enterprises ranging from Detroit’s Big 3 automakers to major hotel chains. Employees at a Denver Live Nation concert venue have even cited our 2023 Executive Excess report as a powerful motivator for their successful union drive. Policymakers are also taking steps to address widespread concerns over corporate pay patterns. But much more remains to be done. This year’s Executive Excess ends with a comprehensive policy menu for ensuring that corporate America more equitably shares the fruits of everyone’s labor.”
