CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee

By MAE ANDERSON, PAUL HARLOFF and BARBARA ORTUTAY
Associated Press

NEW YORK (AP) — The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets. The median pay package for CEOs rose to $16.3 million, according to data analyzed for The Associated Press by Equilar. At half the companies in this year’s pay survey, it would take the worker at the middle of the company’s pay scale almost 200 years to make what their CEO did. Hock Tan, CEO of Broadcom, topped the survey with a pay package valued at roughly $162 million.