Sarah Anderson directs the Global Economy Project at the Institute for Policy Studies (IPS) and is co-editor of the IPS web site Inequality.org. She’s the lead author of a new report — warning: it’s going to make your blood boil, as will this podcast episode — “How Corporations Pumped Up CEO Pay While Their Low-Wage Workers Suffered in the Pandemic.”
I’ve known Sarah since the days of the fax machine, rotary phones and, if memory serves correctly, the Pony Express. When it comes to tracking the correlation between low-wage work and corporate plunder, for example Executive Excess, she’s the best. “Fifty-one of the country’s 100 largest low-wage employers moved bonus goalposts or made other rule changes in 2020 to give their CEOs 29 percent average raises while their frontline employees made 2 percent less,” reads her new report for IPS. “Among these 51 rule-rigging companies, average CEO compensation was $15.3 million in 2020, while median worker pay was $28,187 on average. The average CEO- worker pay ratio: 830 to 1.”
Read her report, but first listen to her and I discuss it for eleven short but highly educational minutes right here.