WASHINGTON, D.C. -- Two-thirds of Americans say companies are doing a “poor” job of avoiding major pay gaps between CEOs and average employees, according to the latest Bentley University-Gallup Business in Society research.
Nine percent say companies are doing a “good” job avoiding a pay gap, and 21% say they are doing a “fair” job. Only 4% believe companies are currently doing an “excellent” job. Opinions on the job companies are doing to prevent such pay gaps have remained steady since annual tracking began in 2022.
Americans’ views are fairly uniform across age, race/ethnicity and income groups. However, they differ according to political party. Partisans’ views remain sharply different, with 81% of Democrats, 64% of independents and 47% of Republicans saying companies are doing a poor job.
These findings from the latest Bentley University-Gallup Business in Society research are based on a web survey with 5,835 U.S. adults conducted from April 29 to May 6, 2024, using the probability-based Gallup Panel™.
The findings come at a time when the 2023 median pay package for a CEO rose to $16.3 million, an increase of 12.6% from the previous year, according to an Equilar/Associated Press 2024 study. This is more than three times the 4.1% increase netted by private-sector workers in 2023.
Most Say It’s Important for Companies to Avoid CEO-Employee Pay Disparity
Over half of U.S. adults say it is “extremely important” for companies to avoid major pay gaps between CEOs and average employees. Another 27% of Americans think it is “somewhat important,” meaning more than four in five consider it important. These findings remain generally unchanged since 2022.
Partisans’ opinions on importance diverge -- 74% of Democrats, 55% of independents and 32% of Republicans believe avoiding a pay gap is extremely important.
These findings on Americans’ views of companies’ performance on pay gaps are part of a larger survey conducted by Bentley University and Gallup. The 2024 Bentley-Gallup Business in Society Report will be released in September.
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