Ohio CEOs Paid 322 Times That of The Median Worker

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.

According to national data, CEO pay grew more than 1000% from 1978 to 2020, compared to employee pay gains of 18% in that same period.

Contributing to this disparity, the policy organization went on to say that “right-to-work” and tax and trade policies that benefitted large corporations have “undercut working people’s bargaining power.”

“The resulting fall in union density has allowed CEOs to further consolidate the power they used to capture a growing share of the income produced over recent decades,” Shields wrote.

Read the full Ohio Capital Journal article here