Medtech CEOs make about four times more than the average employee in the medical device industry. How many hours would you have to work to make as much as a chief exec?
The wage gap between top executives and their employees has always been a source of ire for workers. But following the recent financial crisis, income disparity between the so-called 1% and everybody else has been thrust into the spotlight.
The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act included a requirement that public companies disclose the ratio of CEO pay to median employee pay, although the Securities and Exchange Commission has yet to implement that provision. More recently, two California state senators introduced a bill to link companies’ tax rates with their CEO-to-average-worker pay ratios.
Last year, chief execs at S&P 500 companies earned 331 times more than the average worker, according to the AFL-CIO. Here’s a look at the breakdown between CEO and average employee compensation in medtech:
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—Jamie Hartford, managing editor, MD+DI