The AFL-CIO's "Annual Executive Paywatch Report" reveals significant disparities in CEO pay, with Starbucks' CEO Brian Niccol earning 6,666 times more than the median worker's pay. The median Starbucks employee would need 4,643 years to earn his 2024 salary. Average CEO compensation among S&P 500 companies increased by 7% to $18.9 million. Eight companies were found where CEOs earned only 1.1 times their median employee salary. The report also critiques lavish pay packages, such as the inclusion of a private airplane for Niccol.
In 2024, CEO Brian Niccol's compensation reached 6,666 times the median pay of Starbucks workers, emphasizing the stark imbalance in corporate pay.
The median Starbucks worker would have had to start working for Starbucks in 4643 BC just to match Niccol's earnings for 2024.
Across S&P 500 companies, average CEO compensation rose to $18.9 million in 2024, marking a 7% increase from 2023.
The report noted that while some CEOs earn exorbitant salaries, others, like those at eight specific companies, make only slightly more than their median employees.
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