US millionaire CEOs saw 29% pay raise while workers’ pay decreased

From The Guardian:

The millionaire CEOs of some of the American companies with the lowest-paid workers saw an average pay raise of 29% in 2020 while their workers saw a 2% decrease, according to a report released Tuesday.

The Institute for Policy Studies calculated that the average CEO compensation in 2020 was $15.3m when looking at the 100 companies with the lowest median wage for workers in the S&P 500 index.

The median worker pay was $28,187. This means that CEOs saw a 29% pay raise compared to 2019, while workers saw a 2% decrease. For all 100 companies, median worker pay was below $50,000 for 2020.