CEO pay rates immoral in an egalitarian society
By Christine Rose
Reprinted from The Daily Blog
The recently announced unprecedented level of CEO salaries should give all conscientious Kiwis cause for concern. The scale of both the base salaries and the increases for New Zealand company bosses shows real inequity, and growing inequality between the pay rates of workers and elites. The growing gap between the rich and the poor is glaringly obvious there. Over the last 10 years CEO salaries have gone up an average of 107%. In the last year alone CEO pay rates rose an average of 10%. At the same time many lower level Kiwi workers received no pay rise at all or had pay rates that were virtually stagnant, with about only a 3% wage increase for Kiwi workers on average.