Just as the average worker continues to get poorer, as illustrated by the Average Compensation Per Employee falling by 0.9% in real (inflation-adjusted) terms in the year to September, and by 3.3% since March 2012:
Australia’s top CEOs continue to make out like bandits, now earning an average of $4.75 million — or 78 times more than the average Australian worker. From Msn Money:
Australia’s top chief executives earn an average of $4.75 million — or 78 times more than the average Australian worker.
The stark finding comes from corporate adviser Conrad Liveris, who has examined the remuneration of executives at Australia’s 100 biggest public companies…
Over the past couple of years, CEO remuneration has climbed 46 per cent more, year on year, than average Australian incomes.
Mr Liveris believes corporations need to align increases in executive remuneration to Australia’s Wage Price Index, in an effort to win back trust in the country’s biggest businesses…
More grist for the mill for Labor’s inequality agenda.