Given rising layoffs and a stubbornly excessive inflation charge, you’d suppose firms can be pinching pennies on employee salaries today.
Yet the alternative is going on, in accordance with a brand new research.
DON’T MISS: The Average Income within the U.S.
In common, annual compensation (i.e., wage, bonuses, and advantages) rose greater in 2022 than in 2021 at 278 S&P 500 Index firms in accordance with knowledge collected by MyLogIQ and analyzed by The Wall Street Journal. The assessment of every firm’s safety filings tracked 453 S&P mainstay U.S. firms.
Additionally, roughly 100 firms reported mountaineering salaries by 10% or extra final 12 months, the report famous.
The highest median annual wage in 2022 was $414,500 at Vici Properties, a New York City-based actual property funding belief. Technology firms additionally rated extremely on median pay. Meta Platforms (META) – Get Free Report, which owns Facebook, reportedly paid staff a median wage of about $300,000. Alphabet (GOOG) – Get Free Report, which owns search engine large Google, clocked in barely decrease at a $280,000 median wage.
In common, employee pay was extra sturdy in industries like expertise, media and leisure, and power. Correspondingly, the patron staples and retail sectors averaged the bottom annual salaries, in accordance with the assessment.
Here are the highest ten highest-paying U.S. firms, as measured by median annual revenue, for 2022.
Amazon (AMZN) – Get Free Report ranked forty third on the median wage checklist, at $34,195 for 2022, partly due to the large variety of warehouse staff they make use of. Not surprisingly, Amazon ranked second on the checklist of largest firms within the U.S., with revenues of $514 billion in 2022, in accordance with Fortune Magazine.
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At the underside of the checklist are largely big-brand retail firms, together with Yum Brands ($10,398); Ross Stores ($9,968); and Aptiv ($8,139). Those bottom-level median annual incomes often go to minimum-wage staff, The Journal reported.
There are some distinctions to be made on the decrease finish of the corporate wage scale.
For instance, Aptiv, an auto components provide firm that has a number of crops in Mexico the place wages are decrease, famous “competitive wages vary greatly from standard U.S. hourly rates” in its safety filings.
Retail titan Walmart (WMT) – Get Free Report additionally landed on the decrease finish of the median wage checklist, at $27,000. Yet the corporate did increase salaries by 7% in 2022 and in addition raised its beginning wage pay to $14 per hour from $12 per hour.
Meanwhile, CEO salaries proceed to skyrocket at prime U.S. firms.
The median whole annual compensation on the prime 100 firms tracked by company monetary knowledge supplier Equilar is $22.3 million in 2022. That’s a 7.7% rise in whole compensation, Equilar reported.
Source: www.thestreet.com”