A new Institute for Policy Studies report exposes the huge gaps between CEO and worker pay at companies that rely on taxpayer dollars. This report, the first to analyze CEO-worker pay ratios at top federal contractors and subsidy recipients, shows that corporations raking in the most lucrative federal contracts and subsidies have gaps between CEO and worker pay that are vastly wider than what ordinary American taxpayers find acceptable.
Some of the key findings include:
- More than two-thirds of the top 50 federal contractors and the top 50 federal corporate subsidy recipients paid their CEO more than 100 times their median worker pay in 2017.
- The Geo Group, which runs immigrant family detention centers, took in $663 million in Justice Department and Homeland Security contracts in 2017. Geo CEO George Zoley pocketed $9.6 million that year, 271 times more than his company’s median employee pay of $35,630.
- Among the 50 publicly held firms that received the largest federal subsidies, 33 paid their CEO more than 100 times their median worker pay. Subsidies to these firms totaled $1.4 billion.
- American Airlinesreceived more than $16 million in subsidies in 2017, a year that saw CEO Doug Parker receive $12.2 million, 195 times the firm’s median worker pay.
- Walmart, paid half of its 2.3 million employees less than $19,177 last year. The company’s CEO made 1,188 times that amount.
Click here to read the complete report.
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