CEOs make nearly 200 times more than employees in US: report

By Dat Nguyen   June 5, 2024 | 06:05 pm PT
CEOs make nearly 200 times more than employees in US: report
Broadcom CEO Hock Tan speaks as President Donald Trump listens during an event on Nov. 2, 2017 in Washington. Tan topped the AP survey of CEO pay with a package valued at about $162 million in 2023. Photo by AP
The median salary of CEOs in the U.S. was $16.3 million last year, 196 times that of that of their employees, a report has found.

CEOs’ salary went up 12.6% last year, compared to a 0.9% growth in 2022, according to a report by market research company Equilar and The Associated Press, which looked at compensation of the leaders of S&P 500 companies.

Stock awards made up approximately 70% of total compensation.

Hock E. Tan of chip producer Broadcom was the highest-paid CEO with a pay package totaling $161.8 million.

The median S&P 500 employee earned $81,500 last year, up 5.2% from 2022.

This means the CEO/employee pay ratio increased from 185 in 2022 to 196 in 2023.

The report also found that female were awarded a median pay package of $17.6 million in 2023, 7.7% more than the index median.

Lisa T. Su, CEO of computing solutions provider Advanced Micro Devices, was the highest-paid woman with a pay of $30.35 million.

The Associated Press said that CEOs got rewarded as the economy showed resilience, underpinning strong profits and boosting stock prices.

About two dozen CEOs in the report received a pay bump of 50% or more.

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