CEO compensation globally has increased 56 times more than employee pay since 2019 

The average compensation of a CEO has increased globally by almost 50% in real terms since 2019, while the average worker's salary has only increased by 0.9%. A dollar billionaire earns more in an hour than the average worker does in a year. As the richest continue to lose out, Oxfam and the International Trade Union Confederation (ITUC) want to see an increase in taxes on the highest earners - to reduce inequality and invest in people and the well-being of the planet.

Montage: Canva

Globally, the average global CEO pay reached $4.3 million in 2024, according to new analysis from Oxfam for May 1. That's a real wage increase of nearly 50 percent from $2.9 million in 2019 (adjusted for inflation) - an increase that far outpaces real wage growth for the average worker, which saw a 0.9 percent increase over the same five-year period in the countries where CEO pay data is available.

"The trend continues: wealth and power are increasingly concentrated in the hands of the already rich, while millions of wage earners see hardly any wage increase at all, struggling to afford rent, food and healthcare. In Sweden, real wages for wage earners have decreased by 5% since 2019, while CEO compensation increased by 46%. These gaps are unfair and affect ordinary people who work hard for their pay. When the differences are so great, politicians must take responsibility and act to redistribute income and wealth, from the pockets of the very richest to ordinary people and a functioning welfare for all."

Suzanne Standfast, Secretary General of Oxfam Sweden.

The figures are median values based on CEOs' full compensation, including bonuses and stock options, from nearly 2,000 companies in 35 countries where CEOs were paid more than $1 million in 2024. The data, analyzed by Oxfam, is drawn from the S&P Capital IQ database, which uses publicly reported information on corporate finances.

Increases in global CEO compensation have come at a time when more and more people are warning that workers' wages are not keeping pace with the cost of living. While the International Labor Organization's (ILO) global report shows that real wages grew by 2.7% in 2024, many workers have seen their wages stagnate. In France, South Africa and Spain, for example, real wage growth was just 0.6% last year. Although wage inequality had declined globally, it remains very high, especially in low-income countries, where the income share of the richest 10% is 3.4 times higher than the poorest 40%.

"The outrageous pay gap between CEOs and workers confirms that we are missing democracy where it is needed most: at work. Around the world, workers are denied the most basic necessities for a good life while companies make record profits, dodge taxes and lobby to avoid responsibility."

Luc Triangle, General Secretary of the International Trade Union Confederation (ITUC)

"Workers demand a new social contract that works for them - not for the billionaires who undermine democracy. Fair taxation, strong public services, living wages and a just transition are not radical demands - they are the basis of a fair society. It's time to stop the billionaire coup against democracy and put people and planet first."

Luc Triangle, General Secretary of the International Trade Union Confederation (ITUC)

Oxfam and the ITUC call on governments to maintain and increase the pace of taxing the super-rich, both nationally and globally. In Sweden, it is up to the social partners to agree on wages and working conditions, where ordinary workers need higher and fairer wages. When income inequality is so high, policy must step in and redistribute income, including through taxes. This includes raising marginal tax rates on all personal income for the richest to discourage sky-high executive pay. Taxes should be reinvested in welfare and other initiatives that ensure all people see their rights met.  

Background information 

Oxfam's methodological note is available on request. 

According to ILO data, the share of income received by the richest 10% is 3.4 times higher than the poorest 40% in low-income countries. The ILO Global Wage Report 2024-25 and related datasets are available online. 

Between 2019 and 2023, real wages in Sweden fell by 5%, according to the ILO database. Official statistics for 2024 and 2025 are not yet available.