The pay packets of the U.K.’s top bosses have attracted criticism after a new report revealed the stunning disparity between the average British worker and a typical FTSE 100 CEO.
Today's #FatCatFriday – when the typical FTSE100 CEO has already earned the average wage for a whole year.
While greedy execs sit on piles of cash, thousands of families struggle to make ends meet due to rising insecure work and draconian conditions.
We need radical change.
— TradesUnionCongress (@The_TUC) January 4, 2019
Despite the outrage, the difference in pay packets is still far smaller than for some firms in the United States. In the U.S., public companies are now required to disclose their companies’ pay ratios between the CEOs and median employees.
For example, in a filing made in September 2018, it was revealed that the Co-CEOs of Oracle, Mark Hurd and Safra Catz, each took home $108 million in the fiscal 2018 year.
Oracle’s median employee pay packet, the point at which there is exactly half of all employees either earning more or less, was $89,887 for the same time period. That works out an at CEO pay ratio of 1,205 to 1.
And in the online study by the American Federation of Labor and Congress of Industrial Organizations, the widest disparity in an S&P 500 company is at the toymaker Mattel where CEO Margaret H. Georgiadis took home $31,275,289 for fiscal 2018. The median worker pay of the firm during the same period was $6,013.