Today is the day where a lot of the big CEO`s have already earned the average salary of their employees.
Top bosses of the top 100 companies in the UK earn on average 117 times the annual pay of the average worker
• In 2018 the average FTSE 100 CEO earned £3.46 million, equivalent to £901.30 an hour
• The average worker took home an annual salary of £29,559 in 2018, equivalent to £14.37 an hour
This means that by today (monday 06.01.2020) around 17:00 these Fat Cats already made what the worker earns in a year.
As another example the CEOs of the BEL20 or the Swedish top companies have to be satisfied with getting the same result one week later around the 9th of January and the average wage of the employees is also higher which accounts for a multiplication of "only" 46 times.
So in Europe the gap between worker and boss is the biggest in the UK and the focus in 2020 is apparently rightfully moving to this topic as this is the first year where companies with more then 250 employees have to share the pay ratio.
In the US this pay ration has been divulged for longer and the managers of the S&P 500 make roughly 287 time the average wage of their employees.
This they do by artificially propping up stock prices through stock buybacks and the reap in the big bonuses whilst selling their shares slowly under the table waiting for the upcoming crash.
Personally I do believe that a CEO should earn more then an average employee. That is if they truly have all that responsibility and not just the benefits. But 117 times more or 287 times more?? There should be a cap of about 50 times maximum.
Especially if you look at the wealth gap growing and the average joe going deeper and deeper into debt.
So what do you think of these fat cats??
- fairly paid
- grossly overpaid
- not paid enough