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CEO pay up 10-fold since 1978: Report

Published on Jun 13, 2014 6:34 AM
A Wall Street sign is pictured in the rain outside the New York Stock Exchange in New York on June 9, 2014. -- PHOTO: REUTERS

WASHINGTON (AFP) - Pay for chief executives of US companies has soared nearly 10-fold over the last 35 years to an average of US$15.2 million (S$18.98 million) in 2013, according to a study released on Thursday.

Total compensation, including bonuses and stock options, jumped 937 per cent since 1978, said a report by the non-partisan Economic Policy Institute (EPI), which is partially funded by labor unions.

The ratio of CEO pay to that of average workers rose from 29.9-1 in 1978 to 295.9-1 in 2013, the study said.

"The economy is recovering for some Americans, but not for most," the report said.

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