The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Sauce for Goose, Not for Gander

Apr 2, 2018

A new rule for U.S. companies with shares traded on stock markets requires that they report how much their chief executive makes, how much their average worker makes, and the ratio between those amounts.

Marathon Petroleum reports a median worker wage of $21,000, with many of those working part-time at their gas stations. The pay of their chief executive is 935 times as much.

Whirlpool says its median full-time worker in Brazil earns $19,900 a year while its chief executive earns 356 times as much. Kellogg reports a median wage of $40,000, and its chief executive earns 183 times as much.

Even firms where the average pay is much higher, like KKR, an investment firm handling billions of dollars, the ratio remains obscenely huge. At KKR, where median pay is given as $265,000 per year, the big bosses earn more than 400 times as much as the average employee!

These corporate notes show the enormous wealth the workers make for every company while still earning pathetic wages.