Seeing as we were talking about pay ratios… November 26, 2013Posted by WorldbyStorm in Economy, US Politics.
…in the wake of the failed Swiss referendum to introduce a statutory cap on CEO pay, this from Bloomberg outlining US pay ratios is instructive in pointing to how bad things can get.
This too is important:
Most companies don’t disclose median worker pay, so Bloomberg calculated ratios based on the U.S. government’s industry-specific averages for pay and benefits of rank-and-file workers.
Let’s also note how there’s almost a taboo on discussing one’s level of pay with others in a workplace (I’ve heard of workplaces where it’s actually forbidden). A situation which is highly convenient for employers. To put it mildly.
And let’s consider how:
…almost three years since Congress directed the Securities and Exchange Commission to require public companies to disclose the ratio of their chief executive officers’ compensation to the median of the rest of their employees’. The agency has yet to produce a rule.
BTW, the above chart doesn’t give a full outline of executive remuneration IIRC. For example, consider this in relation to Apple’s CEO Tim Cook.