A new study by the Associated Press finds that the average American working stiff – earning the national average annual wage of $39,312 — could take home more than the annual pay of Simon Property’s Chief Executive Officer, David Simon, but the worker would have to toil for 3,489 years to do so. Simon’s pay is pegged at $137 million, according to AP.
Some may say the comparison is unfair, because Simon earns much more than the average CEO. So let’s do a truffles-to-apples comparison, using figures provided by AP.
The median pay of a CEO is $9.587 million; the average worker earns $39,312 annually. It would take Joe Average Worker only 244 years to catch up to Joe Median CEO. A minimum wage worker would have to toil for 636 years just to match the median CEO pay.
So, what do you think about raising the retirement age to 3,489? Just a thought…..