Soaring CEO Salaries Amid Stagnant Worker Wages: The Global Inequality Divide

A recent Oxfam study reveals CEO pay averages $2 million in India, surging 50% globally since 2019, while global worker wages rose just 0.9%. Billionaires amassed $206 billion in 2023, exacerbating inequality. The gender pay gap narrowed, but women still work 'for free' on Fridays compared to men.

In a stark analysis of global economic disparities, Oxfam's latest study reports that CEO compensation has climbed to an average of $2 million annually in India, with a global surge in executive pay of 50% since 2019. By contrast, the average worker's wage has seen a mere 0.9% increase, highlighting a widening wage gap and economic inequality.

The study points out that this surge in CEO pay occurs while billionaires continue to accrue wealth, pocketing an average of $206 billion last year alone—equivalent to earning $23,500 per hour, vastly outpacing the 2023 global average income. This wealth concentration underscores a system that funnels riches upwards, creating challenges for ordinary workers struggling to meet basic necessities.

Adding to this imbalance, the study highlights gender pay discrepancies within corporations. Despite a slight narrowing of the gender pay gap from 27% to 22%, female employees, on average, effectively work unpaid on Fridays. The report also criticizes potential repercussions of US-imposed tariffs, which threaten to exacerbate global economic inequality, particularly affecting workers in low-income nations.

(With inputs from agencies.)