Top CEOs Worldwide Received 9% Pay Rise in 2022 While Workers Were Slapped A 3% Pay Cut

New Delhi: According to a report released on Monday, top CEOs around the world, including India, saw a real-term salary increase of 9% in 2022, while employees had a global pay cut of 3% during that time.

The average salary for 150 of India’s highest-paid CEOs was $1 million last year, a real-term pay increase of 2% from 2021.

A single Indian executive can earn more in four hours than what a typical worker does in a whole year.

According to the research from Oxfam that was released on International Workers’ Day, employees on average worked six days “for free” last year because their pay lagged behind inflation, while real pay for top executives increased by 9 per cent (16 per cent if not adjusted for inflation) in India, the UK, the US, and South Africa.

In comparison to 2022, when salaries had stayed up with inflation, one billion workers across 50 nations lost an average of $685 in real wages.

The report further estimates that every month, women and girls do at least 380 billion hours of unpaid care work.

Because of the unpaid care duties they must perform, women workers frequently have to work fewer paid hours or leave the workforce completely. According to the findings, they are still subjected to harassment, gender-based discrimination, and lower compensation for work that is on par with that of men.