By Sahid Fawaz
We all know that many Walmart workers receive poverty pay. But when you look at the just-released ratio of pay by its CEO to its workers, you start to see how obscene greed really can be at this company.
“Walmart CEO Doug McMillon was paid nearly 1,200 times the salary of the median Walmart worker in 2017, according to the company’s annual proxy statement.
McMillon’s total compensation rose 2% last year to $22.8 million, most of it — $15.7 million — coming from stock awards. He also drew a salary of $1.3 million and received incentive pay of $4.7 million.
The median Walmart worker’s salary was $19,177 — 0.015% of the CEO’s salary. The ratio to McMillon’s total compensation was 1,888 to 1.
Under a 2015 rule mandated by the Dodd-Frank Act, companies are now required to report their CEO pay in comparison to the median worker. To calculate its ratio, Walmart excluded about 90,000 employees outside of the U.S. — or about 3.9% of the total workforce — with the remaining 2.2 million workers determining the median compensation.”
For the rest of the article, visit CFO.com.