CEO Pay Soars in 2024, Highlights Wage Gaps
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In 2024, CEO pay at big companies went up. It increased by almost ten percent. This happened because the stock market did well. Also, companies made more money.
Many shareholders want CEO pay to match performance. So, a lot of pay is in company stock. CEOs can only get the stock if the company does well. This means the stock price must go up.
The Associated Press looked at CEO pay. They studied 344 CEOs at big companies. The CEOs worked there for at least two years. The data came from company papers.
The average CEO pay rose to $17.1 million. Regular workers made much less, about $85,419. The workers' pay only increased a little bit, by 1.7 percent.
Rick Smith, the CEO of Axon, earned the most. His pay was worth $164.5 million. Axon makes Tasers and cameras. The company's income went up a lot.
Questions
What happened to CEO pay in 2024?
CEO pay at big companies went up by almost ten percent.
How much did the average CEO earn?
The average CEO pay rose to $17.1 million.
Who earned the most as a CEO?
Rick Smith, the CEO of Axon, earned the most with a pay of $164.5 million.
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