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  • Dollars and Yuans

    Dollars and Yuans | Photo: Reuters

Published 18 August 2019

From 1978 to 2018, top executives' pay grew by more than 1,000%, with increasing stocks, while workers' salaries increased by less than 12%.

Top executives at major companies in the United States earn 278 times more than their employees, according to a study published recently.

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The research published by the Economic Policy Institute revealed that last year, the average annual salary of chief executives at the country's top 350 companies was 17.2 million dollars, including share options.

The study showed that the pay gap between the two groups increased from a 20-to-1 ratio in 1965, to a compensation ratio of 58-to-1 in 1989.

It added that from 1978 to 2018, top executives' pay grew by more than 1,000%, with increasing stocks, while workers' salaries increased by less than 12%.

The economy would not be negatively affected if chief executives earned less or paid more taxes, the study revealed, as reported by local media.

The report also noted that increasingly concentrated power at the top has led to rising inequality in the United States.

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