S&P 500 CEOs received an average total compensation of $18.9 million in 2024, a 7% increase from the previous year, according to a report by the AFL-CIO. This rise indicates that CEOs earned 285 times more than their median workers’ income, compared to a ratio of 268-to-1 in the prior year’s report. The AFL-CIO’s Executive Paywatch report for 2025 highlights the economic disparity between CEOs and their employees.
The report revealed that Starbucks had the highest CEO-to-worker pay ratio among S&P 500 companies in 2024. Starbucks CEO Brian Niccol received $97,813,843 in total compensation, which is 6,666 times more than the company’s median employee salary.
The report also noted significant political donations from wealthy CEOs to Donald Trump’s re-election campaign and inauguration. Tesla and SpaceX CEO Elon Musk contributed $288 million to Trump’s campaign, while Meta Platforms and Amazon each donated $1 million.
Additionally, Washington, Oregon, and Kentucky were identified as having the greatest disparity between CEO compensation at S&P 500 companies headquartered there and median worker compensation.
CEOs listed in the AFL-CIO’s report will benefit from reduced income taxes due to a Republican budget reconciliation bill. This tax reduction could have otherwise funded Medicaid coverage for over 80,000 people or SNAP food assistance for more than 300,000 individuals.
Fred Redmond of the AFL-CIO stated: “Corporate CEOs are raking in millions… Trump is paying for this handout to CEOs by cutting health care…” He emphasized that unions remain crucial for ensuring fair wages for workers.
The AFL-CIO continues its efforts through initiatives like the “It’s Better in a Union” bus tour aimed at empowering workers against what they perceive as unfair corporate practices under Trump’s administration.
More details on this study can be found at paywatch.org. The research analyzed data filed with U.S. Securities and Exchange Commission covering over 3,800 corporations including top publicly listed companies within major indices like S&P 500 and Russell 3000.
