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<h1 class="reader-title">US: Big Boss Earnings Reach 312 Times
The Average Worker<br>
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<div class="reader-estimated-time">August 17, 2018<br>
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<p>A new report published by the Economic Policy
Institute, Thursday, revealed that chief executives
overseeing the top 350 United States companies earned
312 times more than their <a
href="http://www.telesurtv.net/english/news/To-Protect-Workers-World-Bank-Calls-for-Eliminating-Minimum-Wage-Giving-Employers-More-Power-20180422-0017.html">workers</a>
on average last year.</p>
<p>The spike comes on the heels of bosses receiving an
average pay increase of 17.6 percent, compared to
workers who earned a 0.3 percent raise in 2017.</p>
<p>In hard numbers, top U.S. executives and CEOs took
home, on average, $USD 18.9 million in compensation.</p>
<p>The pay gap in the United States has risen
dramatically, with some fluctuations, since the 1990s,
according to The Guardian.</p>
<p>In 1965, the ratio of the boss to worker pay was
20-to-one. By 1989 the figure had increased to
58-to-one. The number spiked to its highest level one
year later, with top executives earning 344 times more
than the average wage laborer.</p>
<p>Top executive pay declined in the early 2000s and
during the last recession, The Guardian reported.
However, that trend has reversed rapidly since 2009.</p>
<p>Stock-related components of top executive compensation
packages such as stock awards or the chance to cash in
stock options help fuel the astronomical remuneration
bonanza.</p>
<p><a
href="http://www.telesurtv.net/english/news/McDonalds-UK-Staff-Not-Lovin-It-Walk-out-in-First-Ever-Strike-20170904-0009.html">McDonald</a>'s
CEO Steve Easterbrook earned a whopping USD$21.7 million
in 2017. The average McDonald worker earned a median
wage of USD$7,017.</p>
<p>“Over time I think there has been a loosening of
norms,” said Lawrence Mishel, a distinguished fellow at
the Economic Policy Institute.</p>
<p>“Everyone wants to believe their CEO is one of the
best, so they look around and see what everyone else is
being paid, and then they pay them a lot more. They
think everyone is better than average.”</p>
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