Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting.
In many of the most eye-popping packages, such as Expedia Group's, valued at US$296.2 million and JPMorgan Chase's US$84.4 million, boards gave particularly big grants of stock or stock options to recently appointed CEOs navigating their companies through the pandemic or to established leaders they wanted to convince to hang around.
That's up 21 per cent from US$20,942 a year earlier and came as the company's average hourly U.S. wage rose from US$15.25 in March 2021 to more than US$17 currently. That increase was bigger than the raise CEO Doug McMillon got, on a percentage basis. But his 13.7 per cent raise netted him a total package valued at US$25.7 million.
"They should be thinking about what kind of message they're sending to those people, about whether they're really valued in their jobs," Anderson said. "When the guy in the corner office is making several hundred if not thousands of times more, that's sending a really demoralizing message." Throughout the year, CEOs had to navigate snarled supply chains and shortages of chips and other key materials that impacted businesses across industries, said Dan Laddin, a partner at Compensation Advisory Partners, a consulting firm that works with boards.
Even so, GM's board highlighted how the company still delivered record earnings before interest, taxes and some other items. The automaker also accelerated development of its electric vehicles. Those are two of the factors that influence Barra's pay, and her compensation climbed 25.4 per cent to US$29.1 million.
Record profits for multinational oil corporations!!!
It’s almost time to start eating the rich
World value is finite; we're a big ball, and everything is assigned. If someone gets richer, someone else gets poorer. All the money in the world is trying to get into one pocket.
'inflation'