On Average, CEOs Earn 874 TImes More Per Hour Than a Sales Associate!
Ever wonder the annual incomes for the chief executive officers in major fast-food and retail stores? You can guess…the salaries are big and fat, in comparison to their employees. In fact, it will takes a sale associate 2.65 months of overtime to equal one hour of CEO pay!
The chief executive officers of McDonald’s and Starbucks earn more than $9,200 an hour, which is at least 1,000 times the hourly wages of their sales associates, according to a new report by the personal finance website NerdWallet.
Using publicly available data from annual proxy statements and salary monitor site glassdoor.com, this report highlights fast-food and retail chains with some of the biggest gaps between CEO pay and hourly wages paid to associates.
The top 10 with the highest pay disparities are McDonald’s, Starbucks, Dollar General, Gap, TJ Maxx, Target, Wal-Mart, CVS Caremark, Best Buy, and AT&T Wireless.