Walmart CEO Makes Average Workers Annual Salary Every Hour

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:

Source: ABC.

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