CEO salaries rose by 50 and employees by just 0.9 percent since 2019; Oxfam reports

New Delhi| The average salary of CEOs, the chief executive officers of companies in India, has reached Rs 17 crore annually, while the average salary of global CEOs has increased by 50 per cent since 2019. The situation of inequality is such that during the same period the salaries of employees have increased by only 0.9 percent.

Oxfam’s report said that a billionaire earns more income in an hour than the average employee earns in a full year. Ireland and Germany have the highest paid CEOs. In 2024, their average salary is estimated to be $6.7 million and $4.7 million, respectively. The average salary of CEOs in South Africa is estimated to reach $1.6 million in 2024 while in India it is estimated to reach $2 million. Amitabh Behar, executive director of Oxfam International, said, this is what we see year after year. CEO salaries skyrocket, while workers’ salaries do not increase significantly. This system is working exactly as it has been created. Millions of working people are struggling to afford rent, food and healthcare, while the rich are getting richer.

Difficult to live with current salary
According to the report, the increase in global CEO salaries has been made at a time when current salaries are making it difficult for employees to survive. Although wage inequality has declined globally, it is still very high in low-income countries.

17 per cent of women in top positions
Women hold only 17 per cent of the top positions in corporate. According to Edelgiev, men have a monopoly at the top level. CEO Nagma Mulla said, women face obstacles to reach leadership roles.