verage Worker Takes Home $517 a Week; Average CEO $155,769 a Week

BOSTON - April 14 - After declining for the last two years, the gap in pay between average workers and large company CEOs surpassed 300-to-1 in 2003. In 2002, the ratio stood at 282-to-1. In 1982, it was just 42-to-1.

According to Business Week's 54th Annual Executive Compensation Survey, published this week, the average large company CEO received compensation totaling $8.1 million in 2003, up 9.1% from the previous year. Business Week's survey covers the 365 largest companies that have reported their executive pay to date.

From 1990 to 2003:
CEO pay rose 313%
The S&P 500 rose 242%
Corporate profits rose 128%
Average worker pay rose 49%
Inflation rose 41%

The average production worker fared less well in 2003. Their annual pay was $26,899 in 2003, up just 2.1% from 2002 according to the Bureau of Labor Statistics. The average worker took home $517 in their weekly paycheck in 2003; the average large company CEO took home $155,769 in their weekly pay.

If the minimum wage had increased as quickly as CEO pay since 1990, it would today be $15.71 per hour, more than three times the current minimum wage of $5.15 an hour.

"While workers are increasingly anxious about their job security, and how they will pay the rising costs of everything from health insurance to housing, from college to gasoline, corporate executives continue to distance themselves from the cares and worries of those they lead. It sends a poor message to demand cost cutting from the factory floor, while costs in the executive suite are left to soar,"said Scott Klinger, spokesperson for United for a Fair Economy, an independent national non-profit that raises awareness of growing economic inequality.

"Boards remain far too clubby in the post-Enron world. We need some new board members who can say 'no' to executive pay packages that widen the chasm among those who collectively create shareholder value,"said Klinger.

the beauty of this country is that anyone who applys themselves can become one of thse rich CEO's. no one said it would be easy.

That money comes from someone else. It doesn't grow on trees.

I've worked with some of these CEO's they are not worth the money they make. They are in a position of power and exploit it to their own advantage. Meanwhile more layoffs, more outsourcing, more reduction of benefits.

then get off your ass and beccome a CEO and do it different. I am tired of all these whiners complaining about injustice, becasue thats all they do, bitch. in this country, you can do anything you put your mind to. it may take every ounce of energy and initiative you posses, but it can be done. I never ever see liberals say anything like what I just said. all that comes from their mouths is accusations and excuses. this is america, if you wnat to make a million dollars a year you can. if you want to wallow in fear and oppression you can. Pepper, we know poeple get fucked over. its not a perfect world. unless you got some ideas deal with it.

You don't have to read my posts.

I don't want to earn a million dollars, I'm doing quite fine with what I have, I don't want to be a part of the corporate model, that's why I left it.

Sure people can succeed in life, but there are some who are more privilaged then others. Do you think George W worked hard for his money?

There is no doubt that if anyone puts their mind to it they can accomplish something, but I can't support that if it means stepping on someone else.

bitch bitch bitch bitch. no one has to allow someone else to step on them. Someone in george bushs family worked theri ass off to get money. like you said, money doesnt grow on trees. the goal is to work hard and leave a lot to your heirs. I am sure george bush has worked a lot ahrder than john kerry, who has been in the system his whole life.

Yeah I'm sure....

what has keery done to earn his millions pepper? lets see, oh ya, he looks for rich widows to marry, widows who have inhereted their walth from their dead rich husbands. has john kerry ever had a real job? at least bush get out there and does manual labor on his ranch, kerry sips wine at resorts problaby hasnt had his hands dirty since he was in the war.

I don't care about kerry, why do you keep thinking I do?

I don't think bush worked very hard for his money.

I imagine you have worked harder, and for much less.

Thats right, your Nader guy, I forgot. I have worked hard, and am happy with where I am, I realize if I want to make mre money I will have to work harder.

Alright, back on topic people. I think a CEO that can successfully grow a company is worth millions of dollars because 1) not a lot of people are able to do it, and 2) the CEO creates more wealth for the shareholders and the workers. My only issue is the golden parachutes that are built into the compensation packages that ensure that even crappy CEOs can leave with a fistfull of cash. You shouldn't be rewarded for hurting the company.

Originally posted by LionelHutz
Alright, back on topic people. I think a CEO that can successfully grow a company is worth millions of dollars because 1) not a lot of people are able to do it, and 2) the CEO creates more wealth for the shareholders and the workers. My only issue is the golden parachutes that are built into the compensation packages that ensure that even crappy CEOs can leave with a fistfull of cash. You shouldn't be rewarded for hurting the company.

I agree up to a point. There is little you can do to control how much someone can make, but that only accounts for part of the typical compensation package for a CEO. In addition to eliminating the golden parachutes, I see no compelling reason to give them any other advantages either, such as deferred compensation tax breaks, tax free dividends etc.

Originally posted by Vilepagan
such as deferred compensation tax breaks, tax free dividends etc.

Yeah, I guess I don't care [i]how[\i] they're paid so much, but if that method of payment hurts the company then the board shouldn't be allowing it. Corporate boards are ultimately the problem - instead of looking out for the shareholders they're looking out for the CEO. Luckily in the wake of Enron that seems to be changing a bit. Plus big shareholders like CalPERs and other state retirement boards seem to be getting more aggressive about pushing their weight around.

Originally posted by Travh20
bitch bitch bitch bitch. no one has to allow someone else to step on them. Someone in george bushs family worked theri ass off to get money. like you said, money doesnt grow on trees. the goal is to work hard and leave a lot to your heirs. I am sure george bush has worked a lot ahrder than john kerry, who has been in the system his whole life.

All Americans prosper because the first Europeans who came here "worked their asses off" enslaving and exterminating people.

Now you will say "hey I wasn't there, don't blame me". I don't blame you but European Americans, however, are still riding pretty high on the wealth generated by their bloodthirsty ancestors.

The shit storm will, no doubt, commence but let me clarify a little:

I admire Europe's tenacity and military strength. I just can't let you talk about "working" to generate extreme wealth. Usually a whole lot of people have to suffer so that one person can be super-rich.

I would be more satisfied with "someone in George Bush's family kicked the CRAP out of some people" etc..

Originally posted by Ed Blank
All Americans prosper because the first Europeans who came here "worked their asses off" enslaving and exterminating people.

oh y, I forgot :rolleyes: