This is an interesting comparison to judge the runaway executive salaries in this country. It turns out that Walmart CEO Michael Duke’s $35 million annual salary constitutes an hourly wage equal to the annual salary of the average Walmart employee.
New Walmart employees are paid $8.75 an hour — a gross salary of $13,650 a year. Thus, over a single lunch, Duke makes the yearly salary of one of his workers.
Walmart director of community affairs Steven Restivo sees nothing wrong with such a hefty salary: “I don’t think Mike Duke needs, as the CEO of a Fortune 1 company, needs me to defend his compensation package.”
The Institute for Policy Studies recently released a report stating that CEOs in the country’s top 500 companies make, on average, 319 times more than the average American worker. That is up from 30 to 1 in the 1970s.
This is a video of one of The Duke’s employee picnics: