Top CEOs received 9% pay rise in 2022, employees took 3% pay cut

Source | economictimes.indiatimes.com | ET Online
A single Indian executive makes more in just four hours than an average worker earns in a year, a new  Oxfam report  has found.
Top CEOs around the world, including India, received a real-term  pay rise  of 9 per cent in 2022, while mid-career staff worldwide took a 3 per cent pay cut during the same period, the report showed.
Around 150 of the top-paid executives in India received $1 million on average last year, a real-term pay rise of 2 per cent since 2021.
“While corporate bosses are telling us we need to keep wages down, they’re giving themselves and their shareholders massive payouts. Most people are working longer for less and can’t keep up with the cost of living,” said Amitabh Behar,  Oxfam  International’s interim Executive Director.
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