San Francisco, June 3 (Ajit Weekly News) The median compensation for most S&P 500 corporations increased last year as the economy grew and the job market tightened, according to a Wall Street Journal analysis.
The report mentioned that Google parent Alphabet and Facebook’s Meta Platforms had the highest-paid median workers, at almost $300,000. They were among nearly 150 companies that said their median employee earned more than $100,000.
Auto-parts supplier Aptiv PLC had the lowest-paid median worker in the S&P 500 — a full-time factory worker in Mexico who earned less than $7,500 last year. Aptiv was one of 44 companies that reported paying less than $30,000.
Meanwhile, Apple increased worker pay by 18 per cent last year, significantly more than most others in the index.
Overall, the median pay figure rose last year for 278 of the 453 companies in the Journal’s analysis of data collected by MyLogIQ LLC.
A report, this year, said that Google gave four of its top-most senior executives a significant pay hike, raising their base salaries from $650,000 to $1 million.
The report mentioned that the pay hike for top executives came as a senior Google executive said in December that the tech giant would not automatically adjust all employees’ salaries to account for inflation.
–Ajit Weekly News