AFL-CIO Executive Paywatch Report Reveals 290-to-1 Nevada CEO-to-Worker Pay Ratio in 2020
Las Vegas, Nev.—According to the 2021 edition of the Executive Paywatch report released today by the AFL-CIO, the average CEO-to-worker pay ratio at S&P 500 companies in Nevada was 290:1 in 2020, down from 392:1 in 2019.
On average, Nevada CEOs made $15,899,328 in total compensation in 2020, down slightly from $17,225,923 in 2019. Results once again show massive CEO-to-worker pay disparity and inequality among S&P 500 companies.
Year after year, Nevada’s significant levels of inequality showcase the importance of passing the Protecting the Right to Organize (PRO) Act, a monumental labor law reform bill currently in the hands of the U.S. Senate. The PRO Act will remove barriers to organizing and transform our economic system into one that works for all workers, not just corporate interests and billionaires. Senators Catherine Cortez Masto and Jacky Rosen both cosponsor the PRO Act.
“Throughout the pandemic, our workers made decisions no one should ever face: go to work and possibly contract COVID-19, or stay home and risk losing a paycheck. CEOs and business owners labeled them as ‘heroes,' and took slight temporary base salary reductions, but still made millions of dollars while hundreds of thousands of Nevadans suffered through lay-offs and furloughs,” said Nevada State AFL-CIO Executive Secretary-Treasurer Rusty McAllister. “Though the ratio of executive pay to median employee decreased slightly in the last year, it still shows the outrageous pay inequity experienced by hard-working Nevadans who have built our state and keep it functioning every single day. We must rebuild our economy and our middle class, and close this chasm of wealth inequality if we want to fully recover from this pandemic—and unions offer an avenue to do so."
The AFL-CIO’s annual Executive Paywatch is the most comprehensive, searchable online database that has tracked CEO pay for more than two decades. Over the years, the data from Paywatch has consistently been the leading source for exposing stagnant wages and the negative effects of inequality on America’s workers.