Skip to main content
You are the owner of this article.
You have permission to edit this article.
Edit
Indiana CEOs make 258 times as much as workers
alert urgent

Indiana CEOs make 258 times as much as workers

Indiana CEOs make 258 times as much as workers

Cleveland-Cliffs Inc. Chairman, President and CEO Lourenco Goncalves made $18.5 million or 182 times more than employees, according to AFL-CIO's Executive Paywatch.

Indiana CEOs of S&P 500 companies make 258 times as much as workers, according to AFL-CIO's new 2020 Executive Paywatch.

Go on patrol with Aaron Crawford, a Cpl. with the Lowell Police Department, as he speaks about joining the force, DUI enforcement grants, and police Jiu-jitsu training.

The annual study meant to shine a spotlight on growing inequality found the average S&P 500 CEO in the Hoosier State makes $13.4 million, as compared to the average worker pay of $52,210. The study further found the average Russell 3000 CEO in Indiana made $5.6 million, or 108 times as much as the average worker in Indiana.

Nationally, the average S&P 500 CEO's pay grew by more than $700,000 last year. The average CEO made $15.5 million in 2020, or 299 times as much as the average worker.

“Working people bore the brunt of COVID-19 and its impact on the U.S. economy,” Secretary-Treasurer Liz Shuler said. “Last year, the unemployment rate peaked at 14.7% in April, with a record 41 million layoffs in the United States. While many of those jobs have come back, there was a net loss of 9 million jobs in 2020.”

Ford CEO James Farley Jr. made $11.8 million last year or 202 times as much as employees at the automaker that operates the Chicago Assembly Plant and Chicago Stamping Plant in Chicago Heights.

Cleveland-Cliffs CEO Lourenco Goncalves made $18.5 million or 182 times as much as workers at the company's steel mills, including in Burns Harbor and East Chicago.

U.S. Steel CEO David Burritt made $8.5 million or 117 times as much as the company's workers, including at Gary Works and the Midwest Plant in Portage.

In Indiana, NiSource CEO Joseph Hamrock made $6.4 million in total compensation or 62 times as much as the company's average worker. 1st Source Bank CEO Christopher Murphy received $2.3 million in total compensation or 39 times as much as the average worker.

Horizon Bank CEO Craig Dwight made $1.2 million or 28 times as much as employees at the Michigan City-based bank.

For more information or to search the report, visit aflcio.org/executive-paywatch.

1
0
0
1
1

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

Related to this story

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News

Crime

Entertainment & Dining

Latest News

Local Sports

NWI Prep Sport News

Weather Alerts