Companies With Huge Pay Gaps Between CEOs And Their Employees

BANGALORE: Over the past five decades, employee wage gap has increased by a whopping factor of 10 times. According to Glassdoor.com, the CEO pay was calculated by dividing each chief executive's total compensation by 60 hours a week times 50 weeks per year. It highlights some of the biggest gaps between CEO pay and hourly wages paid to associates.

Here are the companies with the biggest pay gaps between CEOS and their employees, as compiled by The Richest.

CVS:

Founded on Merrimack Street in Lowell, Massachusetts, in 1963 with just a single store, CVS is now the 12th largest company in the world according to Fortune 500 in 2014.

It is into prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards and convenience foods through their CVS Pharmacy and Longs Drugs retail and stores online through CVS.com.

CVS also provides healthcare services through its over 600 medical clinics as well as their Diabetes Care Centers.

CVS is among the companies with the greatest disparity between CEO pay and the median wage of its employees. The present CEO Larry Merlo had an unusual distinction: he makes 422 times the median wage for CVS staffs, the biggest gap in a new survey comparing the earnings of CEOs with the pay of their employees. Merlo earns almost $6800 an hour, while the CVS store employees make an average of $8.81.

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