United Auto Workers President Shawn Fain has criticized the Big Three automakers for the raises given to their CEOs in the past few years, saying wage gains for rank-and-file employees haven’t kept pace.
By one measure—the ratio of the CEO’s pay to the median worker’s—automakers have a wider pay gap than most large companies. And over the past four years, the gap at the three has widened.
The leaders of Ford, General Motors, and Stellantis, all targets of current UAW strikes, received between $21 million and $29 million in compensation last year. The median CEO pay package for S&P 500 companies was $14.5 million last year.
…In 2022, the three CEOs earned around 300 times what the median or average employee earned. That puts the automakers in the top third of about 500 large companies by that measure, according to information compiled from securities filings by data provider MyLogIQ. Stellantis reports average, not median, worker pay under rules in the Netherlands, where it is based.
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