CEO Pay Continued to Rise in 2023, , Widening the Income Gap , Between Executives and Workers.<br />'The Independent' reports that the typical CEO <br />compensation for S&P companies continues to<br />increase, outpacing wages for average workers.<br />The Associated Press released its annual analysis of <br />CEO pay, which takes into account salaries, bonuses, <br />perks and other pay components, like stock awards.<br />According to the data, median CEO pay jumped almost <br />13% in 2023, over three times more than the 4.1% increase <br />to wages and benefits for private-sector workers.<br />The median pay package for CEO's in 2023 <br />was up 12.6% from 2022, reaching $16.3 million.<br />With $16.3 million representing the midpoint, approximately half of the S&P 500 CEOs <br />included in the survey earned even more.<br />According to the survey, the income gap <br />was even wider at companies where<br />workers earn lower wages, like retail.<br />'The Independent' uses Ross Stores as an example, where <br />the average worker earning $8,618 would take 2,100 years <br />to earn as much as CEO Barbara Rentler made in 2023.<br />'The Independent' uses Ross Stores as an example, where <br />the average worker earning $8,618 would take 2,100 years <br />to earn as much as CEO Barbara Rentler made in 2023.<br />At the top of the AP data was Broadcom Inc. <br />CEO Hock Tan, who took home a 2023 <br />pay package worth an estimated $162 million.<br />At the top of the AP data was Broadcom Inc. <br />CEO Hock Tan, who took home a 2023 <br />pay package worth an estimated $162 million.<br />In addition to the widening gap between <br />employees and CEOs, the survey also <br />highlighted the persistence of gender inequality. .<br />The highest paid female on the list was Lisa Su, <br />the CEO and chair of the board for Advanced Micro <br />Devices, with a total compensation of $30.3 million. .<br />The highest paid female on the list was Lisa Su, <br />the CEO and chair of the board for Advanced Micro <br />Devices, with a total compensation of $30.3 million.
