An employee of McDonald’s would have to work overtime for 3.86 months straight to earn the McDonald’s CEO’s hourly salary ($9,247), reports a new analysis from financial information company NerdWallet.
This is assuming the average salary of a McDonald’s hourly worker is $7.73, based on information from self-reported salary site GlassDoor.com. While the salary of McDonald’s employees isn’t information that’s made readily available to the public, the median wage for fast-food workers overall is $8.90 per hour.
The $9,247 figure is what former McDonald’s CEO James Skinner made for an hour of his time last year. The analysis focuses on Skinner and not current CEO Donald Thompson because full data on the latter’s salary isn’t publicly available yet, reports The Huffington Post.
What does this all mean? The average McDonald’s employee would have to work 3.86 months straight at an overtime wage (1.5 times his or her regular hourly pay) to match what Skinner made in an hour. Because, obviously, the world is fair and just and income inequality in America isn’t a huge problem.
“A lot of these companies are paying minimum wage or very slightly above that, and the disturbing fact is that even if a worker works 40 hours a week for a month, they’re never going to get close to what the CEO makes for one hour alone,” said Dana Lime, a senior analyst with NerdWallet and the report’s author, in an interview with Huffington Post.
What makes this fact worse is that while CEO’s and higher ups are raking in the big bucks, 50 percent of front-line fast-food workers rely on some form of government assistance, according to a study done by UC Berkley and University of Illinois at Urbana-Champaign. Then, by paying their CEO’s massive salaries, fast food companies are able to save millions on their taxes.