“The average CEO-to-worker pay ratio was 285-to-1 for S&P 500 Index companies in 2024. The median employee would have had to start working in 1740 to earn what the average CEO received in 2024,” writes the Executive Paywatch report.
And, expect the CEOs to get a significant boost thanks to the passage of President Donald Trump’s Big Beautiful Bill.
The average CEO tracked in the report is slated to receive a $490,000 a year tax savings.
But for the average worker, the tax savings under the new law is $765.
Rhode Island-based Companies
Textron
CEO Scott Donnelly, Total Compensation: $19,643,978
Pay ratio of CEO to Textron worker: 171:1
Median pay of an employee: $114,864
CVS
CEO David Joyner, Total Compensation: $17,808,792
Pay ratio of CEO to CVS worker: 299 to 1
Median pay of an employee: $60,917
Hasbro
Chris Cocks, Total Compensation: $16,841,413
Pay ratio of CEO to Hasbro worker: 160 to 1
Median pay of an employee: $105,311
Citizens Bank
Bruce Van Saun, Total Compensation: $10,630,796
Pay ratio of CEO to Citizens worker: 136 to 1
Median pay of an employee: $77,882
Major Employers, but Not Headquartered in RI
PPL (Parent Company of RI Energy)
Vincent Sorgi, Total Compensation: $11,355,743
Pay ratio of CEO to PPL worker: 68 to 1
Median pay of an employee: $166,915
General Dynamics (Parent Company of Electric Boat)
Phebe Novakovic, Total Compensation: $23,794,702
Pay ratio of CEO to General Dynamics: 239 to 1
Median pay of an employee: $99,445
The data from the AFL-CIO Executive Paywatch database draws from company proxy statements that are filed with the U.S. Securities and Exchange Commission and collected by CSuiteComp.com.
The database includes data for more than 3,800 corporations, including all companies in the S&P 500 Index and most of those listed in the Russell 3000 Index. Industry classifications are based on the Standard Industrial Classification System codes.
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