Wachovia Information Paper
Are American CEOs Paid Too Much?
Are American CEO’s overpaid? In my opinion, they are. In America today, CEO’s of various companies are known for their high position and for their high salary. According to the Business Journal, the average CEO’s of an S&P 500 firm earned $2.7 million yearly in 1992. By 2000, the average pay for these CEOs increased to more than 400 percent totaling to approximately $14 million per year. When compared to average workers, the pay increase is even more dramatic. Is this increase justifiable?
In 1992, CEOs were paid 82 times the average of blue-collar workers. In 2004, this amount increased to over 400 times. According to the Bureau of Labor Statistics, the average production worker fared less well in 2003. Their annual pay was $26,899 in 2003, up just 2.1% from 2002. The average worker took home $517 in their weekly paycheck in 2003; the average large company CEO’s took home $155,769 in their weekly pay. If the minimum wage had increased......
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Approximate Word Count: 747
Approximate Pages: 3 (250 words per double-spaced page)
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