The Growing Divide Between CEOs and Workers

It's a golden era for CEOs, but not for the average worker. A recent Oxfam report highlights a shocking 50% increase in global CEO salaries over six years, reaching an average of $4.3 million annually. Meanwhile, workers' wages have barely moved, with a mere 0.9% rise in the same period.

The Stark Contrast in Pay

With data from nearly 2,000 companies across 35 countries, the report underscores how CEO compensation, bolstered by bonuses and shares, far outpaces worker earnings and inflation. "This isn't a glitch in the system -- it's the system working exactly as designed," says Oxfam International executive director Amitabh Behar.

Global Perspectives on CEO and Worker Pay

In India, CEOs earn an average of $2 million, while in Germany and Ireland, the figures jump to $4.7 million and $6.7 million, respectively. Contrast this with the living wage in Delhi NCR, where workers struggle to meet basic needs with Rs 21,411 after deductions.

The Persistent Gender Pay Gap

The report also reveals a slight narrowing of the gender pay gap from 27% to 22% between 2022 and 2023. However, women still effectively work for free one day a week compared to their male counterparts, with Japan and South Korea showing gaps of around 40%.