A new report from the Institute for Policy Studies (IPS) reveals that executive compensation at the country’s 100 largest low-wage employers—dubbed the “Low-Wage 100”—has reached unprecedented heights, with CEOs taking home astronomical pay packages while typical workers’ wages stagnate or even decline. This annual “Executive Excess” analysis scrutinizes six years of pay and investment trends at major publicly traded companies, including household names like Starbucks, Walmart, Home Depot, and Amazon.
Key findings
CEO compensation vs. worker pay: From 2019 to 2024, average CEO pay at Low-Wage 100 firms climbed 34.7%, compared with just a 16.3% rise for their average median worker pay—less than the cumulative 22.6% U.S. inflation over the same period. The average CEO now earns $17.2 million, while the typical worker receives only $35,570 a year. At 22 of these companies, even nominal median pay dropped over six years.
Widening pay gaps: The CEO-to-worker pay ratio ballooned 12.9%, from 560:1 in 2019 to 632:1 in 2024—more than double the S&P 500 average. Starbucks set a new record with a staggering 6,666:1 ratio last year, reflecting CEO Brian Niccol’s $95.8 million pay package versus $14,674 for the median employee.
