Every hour, billionaires pocket more wealth than the average worker earns in an entire year, the analysis said, underlining that the average gender pay gap in 11,366 corporations worldwide narrowed slightly from 27 per cent to 22 per cent between 2022 and 2023 -- yet their average female employee still effectively works for free on Fridays, while their average male employee is paid through the week.
Noting that the average pay for CEOs in India has reached USD 2 million a year, a new study by research and advocacy group Oxfam said the average pay for global CEOs surged by 50 per cent in real terms since 2019, against a 0.9 per cent hike in average worker's wages.
"This is a 50 per cent real-term increase from USD 2.9 million in 2019 (adjusted for inflation) -- a rise that far outpaces the real wage growth of the average worker, who saw a 0.9 per cent increase over the same five-year period in countries where CEO pay data is available," the analysis said.
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