Ohio CEOs paid well as employee wages have dipped

Using data from the Ohio Department of Development and Fortune 500 listings, a report from an Ohio policy thinktank found significant pay disparities between state CEOs and their employees.

The main finding of the study conducted by Policy Matters Ohio showed the median pay of a chief executive officer in 54 of Ohio’s 100 largest employers who reported to the Securities & Exchange Commission was 322 times the rate of the median worker at that same company.

“More than two-thirds of the reporting corporations paid their CEO more than 200 times what they paid typical employees,” author Michael Shields wrote.Seven companies were reported as paying the CEO more than 1,000 times more than the median employee wage.

The research used reports from 54 companies because many of the largest employers in the state don’t have to file SEC reports due to their status. Nonprofits such as the Cleveland Clinic, government operations like Wright-Patterson Air Force Base and privately-owned companies like Giant Eagle aren’t required to file such reports.

Read more: https://ohiocapitaljournal.com/2021/12/23/ohio-ceos-paid-well-as-employees-wages-dipped/