CEOs of Indiana-based S&P 500 companies on average made 291 times more than the average Hoosier worker last year, according the newly released AFL-CIO Executive Paywatch.
The annual study by the Washington D.C.-based federation of labor unions found CEOs nationally make 335 times more than rank-and-file workers with outsourcing widening economic inequality even more. In Indiana, the average worker made $41,486 while the average CEO of an S&P 500 company makes $12 million.
"The income inequality that exists in this country is a disgrace. We must stop Wall Street CEOs from continuing to profit on the backs of working people," AFL-CIO President Richard Trumka said in a press release.
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The AFL-CIO study includes a searchable database of executive pay. In Northwest Indiana, former NiSource CEO Robert Skaggs Jr. made $4.3 million before he took over the spun-off Columbia Pipeline Group. Horizon Bancorp CEO Craig Dwight made $800,890 last year. Christopher Murphy, CEO of 1st Source Bank, which is based in South Bend but has an extensive presence in Porter and LaPorte counties, took home $1.4 million in 2015.
Nationally, workers earned an average of $36,900 last year, a wage the AFL-CIO says has been stagnant for 50 years when adjusted for inflation.