By Helaine Olen
Congratulations CEOs! You’ve been having a great time of it. Salaries are up, and up in a major way. The Economic Policy Institute says you brought home an average $14.1m in 2012. The New York Times, looking at slightly different numbers, claims the news is even better, saying the median number is $15.1m. That’s a 16% increase in one year.
As for the rest of us … well, about that.
The money for our bosses has to come from somewhere, doesn’t it? Here’s one place it likely originated: us.
According to the Department of Labor Statistics, hourly wages plunged by a record-breaking 3.8% in the first quarter of 2013.
These are more than just numbers. This pay disparity is having an increasingly corrosive effect, leaving us governed by and lectured to by an elite that seems out-of-touch with the lives of everyone else.
No wonder you can turn on Bloomberg Radio, like I did last week, and hear this advice: flying on a private jet was extolled as a budget-conscious option for parties of ten or more who were otherwise planning to fly first-class. According to the good folks at XOJET, if the plane is $20,000 for the trip and the average first class ticket about $2,000 … well, you do the math!