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BOSS’S PAY


Since the 1960’s the ratio of CEO’s to workers pay has grown rapidly. In 1965 the ratio in the UK was 20.1, by 1989 this figure had become 58.1 and in 2000 the average was 344.1. Although there were minor reduction following the financial crash in 2008, the current rate is still 312.1.


These figures are UK averages and the Chair of Walmart last year earned $22.8m. That is 1,118 times the usual salary of his employees. At the same time, whilst the mean wage in McDonalds was $7,017, the CEO earned $21.7 m, a ratio of just over 3,000 to 1.


Can such large salaries be justified  ?