28 May, 2016
The US’s top 500 chief executive officers earned 340 times the average worker’s wage last year, taking home $12.4m on average, according to a new report. The analysis by the AFL-CIO, the largest federation of US unions, found that the pay of executives leading the S&P 500 index of top companies actually dipped last year. In 2014 the same group earned 373 times more than their workers, earning on average $13.5m. The marginal drop in pay comes despite some eye-watering payouts for the three highest-paid CEOs – Masimo Corporation’s Joe Kiani, Timothy Walbert of Horizon Pharma and Gamco Investors’ Mario Gabelli – who took home nearly $300m between them, according to the AFL-CIO.