According to new research, CEO compensation globally soared to $4.3 million in 2024, massively outpacing wage growth for an average worker, HRD reports.
New analysis from Oxfam found that average CEO pay had surged by 50 per cent in real terms since 2019, dramatically higher than average workers' 0.9 per cent growth.
Ireland and Germany reported the highest-paid CEOs, with average earnings of $6.7 million and $4.7 million annually in 2024, respectively. Average CEO pay in South Africa reportedly reached $1.6 million in 2024, and hit $2 million in India.
The findings come as the real wages of regular employees struggle to keep pace with the rising cost of living.
The Oxfam report found that billionaires on average made $206 billion in new wealth over the last year. This works out to $23,500 an hour, higher than the global average income of $21,000 in 2023.
Amitabh Behar - executive director of Oxfam International - said in a statement, "Year after year, we see the same grotesque spectacle: CEO pay explodes while workers' wages barely budge."
Findings from the International Labour Organisation showed the real wages of regular workers grew by just 2.7 per cent in 2024. Some countries reported even lower figures, with France, South Africa and Spain gaining only 0.6 per cent.
Luc Triangle - General Secretary of the International Trade Union Confederation (ITUC) - said in a statement, "The outrageous pay inequality between CEOs and workers confirms that we lack democracy where it is needed most: at work."
Source: HRD
(Quotes via original reporting)
According to new research, CEO compensation globally soared to $4.3 million in 2024, massively outpacing wage growth for an average worker, HRD reports.
New analysis from Oxfam found that average CEO pay had surged by 50 per cent in real terms since 2019, dramatically higher than average workers' 0.9 per cent growth.
Ireland and Germany reported the highest-paid CEOs, with average earnings of $6.7 million and $4.7 million annually in 2024, respectively. Average CEO pay in South Africa reportedly reached $1.6 million in 2024, and hit $2 million in India.
The findings come as the real wages of regular employees struggle to keep pace with the rising cost of living.
The Oxfam report found that billionaires on average made $206 billion in new wealth over the last year. This works out to $23,500 an hour, higher than the global average income of $21,000 in 2023.
Amitabh Behar - executive director of Oxfam International - said in a statement, "Year after year, we see the same grotesque spectacle: CEO pay explodes while workers' wages barely budge."
Findings from the International Labour Organisation showed the real wages of regular workers grew by just 2.7 per cent in 2024. Some countries reported even lower figures, with France, South Africa and Spain gaining only 0.6 per cent.
Luc Triangle - General Secretary of the International Trade Union Confederation (ITUC) - said in a statement, "The outrageous pay inequality between CEOs and workers confirms that we lack democracy where it is needed most: at work."
Source: HRD
(Quotes via original reporting)