Yet further evidence of the great wealth divide in the USA.
CEOs of some of the largest corporations in the United States made 254 times more than their median employees in 2021 as executive bonuses and stock awards grew significantly.
According to the latest edition of the Equilar 100, an annual report that spotlights executive pay at leading U.S. companies, median total CEO compensation at top firms soared to $20 million in 2021, a nearly 31% increase from 2020.
"The median value of stock awards increased by 22.7% in 2021, from $8.6 million to $10.5 million. Meanwhile, cash bonuses increased by 46.4% in 2021, from $2.8 million to $4.2 million."
Intel CEO Pat Gelsinger topped the Equilar 100 list with $177.9 million in total compensation in 2021 followed by Apple CEO Tim Cook, who took home $98.7 million last year—a 569% increase from 2020.
In contrast, "employee compensation rose 11%" in 2021, "but the so-called labor share of national income—essentially, the portion that's paid out as wages and salaries—fell back to pre-pandemic levels."
Sarah Anderson, director of the Global Economy Project at the Institute for Policy Studies, explained, "Workers, many of whom are on the front lines of the crisis, have not been reaping the rewards,"
According to the Economic Policy Institute (EPI), CEO pay in the U.S. rose 1,322% between 1978 and 2020 while typical worker pay grew just 18%.
Analysis Shows Top US CEOs Made 254 Times More Than Median Workers in 2021 (commondreams.org)
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