According to a research firm MyLogIQ's analysis of CEO compensation of 294 listed companies in the United States, McDonald's CorpCEO Christopher Kempinsky (Christopher Kempczinski) earned a total salary of $10.847032 in 2020, 1189 times the median salary of the company's employees.
McDonald's Corp said: "McDonald's Corp is committed to establishing a strong culture of performance-based pay, closely linking the interests of senior executives with the interests of shareholders."
However, affected by the COVID-19 epidemic, McDonald's Corp had a difficult year last year, with annual revenue down 10 per cent to $19.2 billion and net profit down 21 per cent to $4.7 billion.
McDonald's Corp's investors were also hit. The company's shares rose just 7% last year, while the s & p 500 index rose 15%.
Kampsinsky's salary of $10.84 million is also in sharp contrast to that of McDonald's Corp's employees. The average hourly salary of McDonald's Corp's shop assistants and cooks is less than $10, according to job search website Indeed. Glassdoor, a recruitment website, has a similar estimate. This salary level makes McDonald's Corp's ordinary employees live below the poverty line.
Although McDonald's Corp's board of directors can argue that Kempsinski led the company through the epidemic, the figure of 1189 times is still incredible.
Of the 294 listed companies analyzed by MyLogIQ, a total of 30 CEO were paid more than 400 times the median salary of their employees in 2020.