24/7 Wall Street made a list of the ten US-based companies that pay their US workforces the least — and, for grins, also showed us how much their CEOs are paid. (Of course, defenders of obscenely executive compensation will say that one must look at how much the CEO does for his/her company, whilst ignoring the fact that the CEO isn’t the only one in the company or on the company board to be paid exorbitant compensation.)
Yes, Walmart tops the list. Yes, Target and McDonald’s aren’t that far behind. And no, CostCo isn’t anywhere on this list, because they both pay their workers better wages (the lowest-paid entry-level workers get at least $10 an hour, and usually a bit more than that) while their CEO’s compensation, while still very comfy, is an order of magnitude less exorbitant than that of many other CEOs. But I thought that the #10 company on this list might surprise many:
U.S. workforce: 120,000
CEO compensation: $28.9 million
Revenue: $13.3 billion
Net income: $1.4 billion
Howard Schultz is Starbucks’ CEO, and he takes in $28.9 million while the majority of his people, the baristas, average $8.79 an hour. Shift supervisors average $11.02 an hour. But the heck with those tens of thousands of moochers: Randian dictates say you should really pity Schultz’ four poor direct reports, who must scrape by with between $2.4 million and $4.3 million per year.
Make of this what you will.