McDonald’s has been a very vocal opponent of raising the minimum wage, with claims that it will kill jobs, raise prices, make companies uncompetitive, and anything else that can be said to demonize the effort. Why not? Who could expect anything else from a company that would rather tell its workers to go on food stamps than raise wages?
In a sample of 10 retail and fast food chains paying the highest CEO compensation shows that CEOs earn 874 times more than a sales “associate.”
It’s easy to oppose fair pay for workers, especially when your CEO makes 1,196 TIMES that of the average wage-slave, as is the case with McDonald’s. The average worker, working 40 hours per week, must work 466 extra hours of overtime to equal what the CEO makes in one single hour, according to Nerd Wallet.
Mileage may vary, of course. McDonald’s pays its CEO well above the sample median of $7,334 and pays its workers well below the sample median of $8.73. Surprisingly, Walmart pays its workers somewhat above the sample, and its CEO below the sample, hourly.
CEO pay has also grown much faster than worker pay. CEOs in the sample earn about 62% of their “wages” through stock and stock options, which have been quite beneficial financially, while worker wages are usually hovering near the $7.25/hr minimum wage–something that has not risen since 2009.
Of course, McDonald’s wouldn’t know how to treat workers fairly if it wanted to. Just watch this video.