The gap between managers and their employees, as well as between men and women managers, is widening with bigger pay rises, the Oxfam report finds.
130 times more. Here’s what CAC 40 CEOs earned on average in 2022 compared to their peers. A gap that has been growing over time, as it stood at 111 in 2019. Reason: Average salary increase for managers is 27% compared to 9% for workers. This is what the report of “Oxfam” public organization, published on Tuesday, April 30, reveals.
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In the chair of the highest paid CEOs, Daniel Julien, at the head of Téléperformance, paid 1,453 times more than the company’s average salary; Alexandre Bompard, director of Carrefour, who earns 426 times more than the average of his employees. and finally Carlos Tavares of Stellantis, whose salary of 36.5 million euros, or 341 times more than the average worker, has been the subject of heated debate in recent weeks.
Female CEOs fare worse
If the gap widens with employees, it remains significant between managers. Also in 2022, the average pay of male CEOs will thus be 2.4 times higher than that of their counterparts, i.e. ten times the average difference between men and women across the French private sector.
All this without taking into account the rarity of women in these positions, of which there have been three since 2022: Christel Heidemann at Orange, Estelle Brakhlianov at the helm of Veolia and Catherine McGregor, CEO of Engie. “That year, the CEO of the CAC 40 was twice as likely to be named Jean than to be a woman,” reports report coordinator Lea Guerin. A grotesque situation far from reflecting French society.” In particular, what concerns the composition of the board of directors, 43% of whose members are women. It’s enough, perhaps, to reignite the debate about diversity in companies and controls on CEO pay, which the report’s authors and others have called for.
Source: Le Figaro
