Caesars CEO Thomas Reeg, left, and MGM CEO Wiliam Hornbuckle. (Corporate publicity photos)
Two Nevada gaming giants are featured in a new report calling out excessive CEO pay at large corporations.
The “ Executive Excess ” report from the Institute for Policy Studies and Inequality.org analyzed what the organizations have deemed the “Low-Wage 100” — the S&P 500 corporations with the lowest median wages. Combined, these companies last year paid their CEOs on average 538 times what they paid a typical worker, meaning for every $1 earned by a rank-and-file worker, the CEO received $538.
“All employees contribute to corporate profits, but too many of our country’s top-tier corporations are doing a spectacularly poor job of sharing the rewards,” reads the report, which noted the average CEO-to-worker ratio for all S&P 500 corporations last year was 268 to 1.
Caesars Entertainment reported a CEO-worker pay ratio of 560 to 1. CEO Thomas Reeg was compensated $18.6 million while median pay for workers was $33,250.