Excerpt from USATODAY
Restaurant and retail workers are pushing for a national minimum wage of $15 an hour, but some CEOs in the industry have landed pay packages worth $9,000 an hour or more.
The highest paid chiefs in these industries include Larry Merlo of CVS Health (CVS), who earned $13,914 an hour, Leslie Wexner of Victoria's Secret parent L Brands (LB)who brought in $13,062 an hour, Howard Schultz of Starbucks (SBUX), who made $9,659 an hour and Douglas McMillon of Wal-Mart (WMT) who received $9,323 an hour. Four retail and restaurant CEOs earned more than $9,000 an hour last fiscal year, according to a USA TODAY analysis of data from S&P Global Market Intelligence. The analysis includes the 76 restaurant and retail companies in the Standard & Poor's 1500 that have disclosed their fiscal 2015 executive pay and is based on a 40-hour work week.
These CEOs' pay packages come amid moves by states such as New York and California to boost the minimum wage to $15 a hour. The minimum wage increase will affect a large pool of workers that include retail and restaurant workers such as store clerks, cooks and waiters.
The 76 restaurant and retail company CEOs who have 2015 pay reported so far earned a median of $2,703 an hour, about $5.6 million annually. Stephen Easterbrook, CEO of McDonald's (MCD), the fast-food giant that is often associated with minimum wage, earned $3,803 an hour last fiscal year, or $7.9 million total, according to the company's proxy filed Friday. That ranks him No. 25 among the companies in this analysis.
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