The salaries of senior US managers are skyrocketing

UNITED STATES, WASHINGTON (VOP TODAY NEWS) — The wages of managers of the top 350 companies in the United States increased by 940 percent between 1978 and last year, while the average employee’s salary rose only 12 percent and the stock market itself rose only 700 percent during the same period, according to a study.

In 2018, the salary of a senior manager was 221 times higher than that of a middle-wage employee, according to the annual study by the Economic Policy Institute (IPI), which concluded that the rise in salaries of senior managers exacerbated existing inequality. On several levels in the United States.

These figures will fuel the political debate ahead of the November 2020 elections, especially in the Democrats’ camp, where fierce clashes between left-wing supporters of the party and centrists are fierce.

The institute, known for its left-leaning tendencies, recalled that a company’s CEO was earning a salary 58 times higher than the average employee in 1989 and 20 times in 1965.

“This rise in executive fees has exaggerated the wealth of the richest, depriving ordinary workers of the fruits of growth and deepening the gap between the richest and those at the bottom of the social ladder,” said Lawrence Mitchell and Julia Wolff.

In 2018, senior managers earned the equivalent of $ 14 million in one year.

The institute suggested some ways to solve this dilemma, notably higher taxes on high-income earners and a corporate tax where the difference between the salary of the senior manager and the junior employee is significant, as well as a special tax imposed after a certain wage ceiling has been exceeded.

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