It really does pay to be the boss. This fact is becoming more and more explicit in the United States. Many citizens want to end this trend and have recently been fighting politically for closing the pay gap.
With new information it is becoming easier for the people to really understand the depth of what is known as the “pay gap”. Take this into perspective:
“We now know that the average CEO of a company listed on the Standard & Poor’s 500 index gets paid 216 times more than the median pay of employees,” stated a recently released Sacramento Bee article.
Being the boss comes with many perks that seem well deserved, but are they? An average worker would have to work two hundred sixteen hours to earn the same money a CEO would make in one hour. That means that an average worker would have to work 27 days to accumulate the same pay that the average CEO gets in just 60 minutes.
These findings are startling, and in fact the United States is filled with the highest paid CEO’s in the world.
“The average Fortune 500 CEO in the United States makes more than $12 million per year, which is nearly five million dollars more than the amount for top CEO’s in Switzerland, where the second highest paid CEO’s live…” stated in a recent Washington Post article.
Locally, many families are trying to make do with just minimum wage jobs, and others still are fighting to raise the wage. Many people would like to see the minimum wage be raised to $15 an hour in Sacramento, but business leaders and elected officials are pushing to gradually hike the minimum wage to $12.50 by the year 2020, with exemptions for tipped employees, youth, the elderly, and people with disabilities.