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Income inequality at 3 largest US car makers is real and lopsided

This a 2022 report. It is the most current income inequality report for US auto manufacturers available on Spendwell.

rankings

MORE INFO
Corporations with smaller gaps between their highest and lowest paid employees rank higher.
better choice

Ford

income inequality
economic impact
In fiscal year 2017, Ford paid Mark Fields, the company's Retired President and CEO, $23,500,111.00 in total compensation.

1/3

General Motors

income inequality
economic impact
In fiscal year 2020, General Motors paid Mary T. Barra, the company's Board Chair and Chief ExecutiveOfficer, $23,657,987.00 in total compensation.

2/3

Tesla

income inequality
economic impact
In fiscal year 2018, Tesla paid Elon Musk, the company's CEO, $2,284,044,884.00 in total compensation.

3/3

worse choice

report summary

The 3 largest US headquartered auto manufacturers paid their highest compensated executive about 35,555 times what they paid their lowest paid employee or contractor, on average over the last 6 years, making the US car industry one of, if not the most, income unequal industries in the entire world. Of course, this average is as dramatic as it is because of Tesla’s 2018 compensation package for CEO Elon Musk, which came in at a record breaking 2.284 billion dollars, more than 100,000 Tesla’s verifiable lowest paid employee or contractor.

about this industry

Manufacturers that build automobiles for consumers.
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Income Inequality Methodology

In the United States, publicly-traded corporations are required to report compensation figures to the Securities and Exchange Commission (SEC). At a minimum, these SEC filings include the 5 largest compensation packages in a given year. This data is typically reported at a corporation’s fiscal year end. There is no requirement to publish corporate minimum wages or equivalent compensation packages. Spendwell will make a good faith effort to identify and publicly confirm corporate minimum wages and when identified, will apply them to this income equality comparison, provided those corporate minimums have or had gone into effect for the years included in this ranking. Published corporate minimums that do not include the value of compensation beyond an hourly figure will be calculated based on the hourly figure alone. In lieu of a published corporate minimum compensation package, Spendwell uses a compensation package equivalent to US federal minimum wage earnings over a yearly period.

Corporations with a smaller gap between their most-compensated employee and their least-compensated employee rank higher than companies with larger gaps. In order to account for fluctuations in compensation and employee turnover, Spendwell reports on the last 6 available years of compensation reporting. In most instances, this includes the six years through the end of fiscal year 2020 - which for most companies was reported sometime during 2021. Currently, Spendwell is reporting only data pertaining to the 20 largest compensation packages reported over these 6 years, comparing this data to published corporate minimum compensation for employees and contractors, where available. As noted, a compensation package based on the US federal minimum wage will be used in absence of a published corporate minimum wage or compensation package. If a corporation's published corporate minimum wage does not specifically include all contractors working for a corporation in any capacity, a compensation package based on the US federal minimum wage for comparison to most well paid executive.

In some reporting instances, Spendwell’s rankings will include private corporations with no current compensation figures publicly available. These corporations might be included in a report, but will be listed as not ranked unless they have voluntarily published necessary information and Spendwell has been made aware of its publication. All ranked corporations are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed DEF 14A reports.

[All methodologies are in beta. They can and many will be revised before final release and updates will be likely for many even after final release.]
[beta*]

Income Inequality Methodology

In the United States, publicly-traded corporations are required to report compensation figures to the Securities and Exchange Commission (SEC). At a minimum, these SEC filings include the 5 largest compensation packages in a given year. This data is typically reported at a corporation’s fiscal year end. There is no requirement to publish corporate minimum wages or equivalent compensation packages. Spendwell will make a good faith effort to identify and publicly confirm corporate minimum wages and when identified, will apply them to this income equality comparison, provided those corporate minimums have or had gone into effect for the years included in this ranking. Published corporate minimums that do not include the value of compensation beyond an hourly figure will be calculated based on the hourly figure alone. In lieu of a published corporate minimum compensation package, Spendwell uses a compensation package equivalent to US federal minimum wage earnings over a yearly period.

Corporations with a smaller gap between their most-compensated employee and their least-compensated employee rank higher than companies with larger gaps. In order to account for fluctuations in compensation and employee turnover, Spendwell reports on the last 6 available years of compensation reporting. In most instances, this includes the six years through the end of fiscal year 2020 - which for most companies was reported sometime during 2021. Currently, Spendwell is reporting only data pertaining to the 20 largest compensation packages reported over these 6 years, comparing this data to published corporate minimum compensation for employees and contractors, where available. As noted, a compensation package based on the US federal minimum wage will be used in absence of a published corporate minimum wage or compensation package. If a corporation's published corporate minimum wage does not specifically include all contractors working for a corporation in any capacity, a compensation package based on the US federal minimum wage for comparison to most well paid executive.

In some reporting instances, Spendwell’s rankings will include private corporations with no current compensation figures publicly available. These corporations might be included in a report, but will be listed as not ranked unless they have voluntarily published necessary information and Spendwell has been made aware of its publication. All ranked corporations are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed DEF 14A reports.

[*All methodologies are in beta. They can and many will be revised before final release and updates will be likely for many even after final release.]

Ranking



rankings

MORE INFO
Corporations with smaller gaps between their highest and lowest paid employees rank higher.
better choice

Ford

income inequality
economic impact
In fiscal year 2017, Ford paid Mark Fields, the company's Retired President and CEO, $23,500,111.00 in total compensation.

1/3

General Motors

income inequality
economic impact
In fiscal year 2020, General Motors paid Mary T. Barra, the company's Board Chair and Chief ExecutiveOfficer, $23,657,987.00 in total compensation.

2/3

Tesla

income inequality
economic impact
In fiscal year 2018, Tesla paid Elon Musk, the company's CEO, $2,284,044,884.00 in total compensation.

3/3

worse choice


This report is based on data collected through 2022-05-09.
Report id: 56--2022-08-10T09:04:06.166Z