PennyGem’s Elizabeth Keatinge tells us how many years it would take the average employee to earn what their CEO makes.
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00:00 100 times more. That's what most S&P 500 firms paid their CEO compared to their median
00:11 worker. This according to the Institute for Policy Studies new Executive Excess 2019 report.
00:16 So that means, as MarketWatch points out, it would take the typical worker at one of
00:20 the 50 public companies with the widest pay gaps an entire millennium to earn what their
00:25 CEO makes in a single year. Yikes. That's a lot of clocking in. The difference between
00:31 what a median worker makes and a CEO makes is pretty drastic. The median CEO pay at these
00:36 50 companies averages $15.9 million last year. Well, the median worker earned just $10,027.
00:44 You heard that right. According to the report, nearly 10% of S&P 500 firms had median pay
00:49 below the poverty line for a family of four. Some of the top offenders, Walmart, with a
00:55 pay gap of $1,076 to one, Marathon Petroleum with a $714 to one pay gap, and CVS with a
01:03 $618 to one pay gap.
01:06 (upbeat music)