CEO pay balloons to 380 times average worker's

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CEO pay balloons to 380 times average worker's
from MarketWatch.com - MarketPulse CHICAGO (MarketWatch) -- The average pay of chief executives of companies in the S&P 500 spiked $12.94 million last year, according to data released by the AFL-CIO Friday, further widening the compensation chasm between them and line workers. That rise represents a 14% increase over 2010, when pay jumped 23%. "The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010," the union added, noting that in 1980, the average large-company CEO made about 42 times the average worker's pay. "CEOs supposedly deserve all this money for increasing shareholder value," the union said. "However, while the average CEO pay increased. . . the S&P 500 Index ended the year at the same level as it started."