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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I’m curious as to how you figured up how much he makes per hour? He is on salary so with that being said, you would have to know how many hours “puts into” his job. I can assure you it’s a lot!In addition 8.75 is not the avg. rate of a Walmart employee.
Get the facts right before spouting off.
There is not a man walking around alive that actually “earns” thirty or forty million dollars a year in a salaried job. The owner or large stockholder I can understand, but not a salaried job. OK, so Wal-Mart is big–really big. The salary of the President of the United States is $400,000 per year. Convincing me that being president of Wal-Mart is worth 50 times more than the President of the United States is going to be quite a sell.
http://usgovinfo.about.com/od/governmentjobs/a/Annual-Salaries-Of-Top-Us-Government-Officials.htm
Downtrodden started at $8.10/hour. Good luck finding another job paying that. Also they forgot to factor in, holiday pay, health and dental insurance, quarterly bonuses, 15% company match when you purchase stocks, 401k that they match dollar for dollar and you’re 100% vested from day one, paid vacations, paid sick days, paid personal days. Screw you for making me defend Walmart, but if you’re working $8 an hour jobs, good luck finding one that offers ANY benefits. Go see what Mcdonald’s will offer, bet you’re lucky if you get a free meal, and uniforms don’t count as a benefit no matter how many times they say it.