CEO diversity: does it explain CEO-to-employee pay ratio?

Jul 30, 2021

Higher CEO-to-employee pay ratios for female CEOs can be interpreted in a number of ways. Image: Unsplash.

Nazli Sila Alan

Assistant Professor of Finance, Fairfield University

Katsiaryna Bardos

Associate Professor of Finance, Fairfield University

Natalya Shelkova

Associate Professor of Economics, Guilford College

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An average CEO earned 202 times the pay of a median worker, while a female CEO stood at 374 times, and a minority CEO at 173 times, according to analysis of 2017-2018 S&P 1500 data.

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