A hat tip to colleague Richard Wells for this piece from the Curious Capitalism blog on the Time magazine website. The Wall Street Journal researched the pay of top CEO’s in the USA and found out that incentive payments increased by 30%. So much for the affect of the financial crisis on the bonus culture. The average worker now makes $40,672 a year. But factor in inflation, and the average worker makes just $0.58 more a week, than they did a year ago. Those justifying the CEO bonuses look to how well companies are doing on the stock market and also the bottom line. If this is the case for CEO’s why don’t employess also receive their fair share of the improved results of corporate organisations.
As long as it remains that only a small segment of our population will be rewarded for better performance, while the rest of us do more and more work for the same pay, the wealth gap in America is certain to get worse. Click here to see the full article