Read time: 1 minute

CEOs Get Big Fat Raise; Workers Get Nothing

While CEOs fight any raise to the minimum wage, their average pay leaped up to $10.5 million.
CEOs Get Big Fat Raise; Workers Get Nothing

The plutocrats must be celebrating today. Another year gone by, another big fat raise.


Median CEO pay rose to $10.5 million last year at America’s largest companies, according to a USA Today analysis that found a 13 percent jump in median compensation from 2012.

The newspaper looked at the 200 members of the S&P 500 that retained the same chief executive from 2012 to 2013. The big raises those top corporate officers scored as a group come primarily from stock market gains. The market’s strong year translated into gigantic wealth and compensation gains for scores of executives who were able to cash in years-old stock options that were worth far less when they were issued during or just after the Great Recession.

Those market gains meant little to nothing for the economic security of the vast majority of the country, however. Median 2013 earnings for the country’s nearly 105 million full-time workers were just $40,872, according to the newspaper, representing a 1.4 percent rise over 2012. That continues a trend of stagnant or even declining earning power for workers that began before the financial crisis and has worsened since.

Wait for them to justify all of this in Very Serious Voices, shaking their fingers at the critics while explaining that it's not really a raise when it's market gains from stock options, right? Except those market gains are at least partly due to companies screwing their employees to fatten their bottom line so their stock price pops.

Freedom means never having to say you're sorry for screwing workers to fatten your own bank account, though. Ask any of them. They'll tell you.

We Need Your Help Now More Than Ever

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook and social media are drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or subscribe for an ad-free experience.

More C&L Coverage


New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team