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Excessive CEO Pay Hurts Shareholders
and Workers Could you live on $9.84 million a year? That’s what the average CEO raked in last year, according the AFL-CIO Executive PayWatch report released in April. It said that figure was a 12 percent increase compared with 2003. Meanwhile, workers on average received a 3.6 percent increase in pay when compared with 2003. At Wal-Mart, where CEO H. Lee Scott received nearly $23 million in total compensation last year, workers earn only $17,043 annually, well under the $18,850 federal poverty guideline for a family of four in 2004. Go to www.paywatch.org for more information on what these runaway pay packages cost workers and shareholders.
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