Brink which florida companies have the biggest gaps between ceo and worker pay tbo.com electricity journal

Among local heavyweights, Wellcare Health Plans reported the highest total compensation for its median worker at $78,193. Mosaic, the phosphate and potash producer, would have been tops at $88,792, but it has not yet officially moved its headquarters to Hillsborough County.

Food service equipment manufacturer Welbilt was closer to the local average at $40,836, as was beverage maker and distributor Cott Corp at $46,924. (Several local heavyweights, including Raymond James, Bloomin’ Brands and Jabil, have not yet filed their financial reports with the U.S. Securities and Exchange Commission.)

Thanks to CEOs who work for relative peanuts, several companies had much tighter pay ratios, including Warren Buffett’s Berkshire Hathaway and home goods seller Wayfair, both of which reported a 2 to 1 ratio. Google CEO Larry Page worked for just $1 in 2017, creating a nearly zero to 1 ratio.

Many of the local companies had a CEO to median worker pay ratio close to the national average of about 130 to 1, including Cott at 132 to 1 and door manufacturer Masonite International at 106 to 1. Staffing agency KForce came in at 96 to 1.

Many of Sykes’ 55,000 employees are part time and work in other countries, including the Philippines, India, China, El Salvador and Costa Rica, where the average pay can be much lower than the United States. That drove the company’s median pay down to $10,450, compared to CEO Chuck Sykes’ $4.2 million.

Other companies with lots of overseas or part-time workers ran into the same unflattering math, made even more stark by extreme CEO pay. McDonalds, for instance, came in at 3,101 to 1 — $21.8 million for the CEO compared to $7,017 for the typical employee. Toymaker Mattel scored an eye-popping 4,981 to 1, thanks in part to the CEO receiving $31.3 million, including $22 million in one-time payments.

Location within the United States can explain some of the pay differences, as well. Take Verizon and rival AT&T. Verizon ($127,000) paid its typical worker 60 percent more than AT&T’s median worker ($78,000). The difference, in part, could be chalked up to AT&T being based in lower-cost Texas and Verizon working out of pricier New York and New Jersey.

"That company’s pay ratio is going to look a lot different from a company in the same sector that has a lot of part time workers or has off-shored much of its workforce," he said. "You have to look carefully at how a company is doing business."

So far, Seelig said shareholders do not appear "overly concerned" with the pay ratios. They remain more focused on CEO pay, which has been disclosed for years. There have been some grumbling, including for local governments, about possibly using the pay ratio when considering issuing contracts to companies or even imposing additional taxes based on the ration, but not much has come of that yet.

Seelig said pay ratio disclosures were set up in part to grab attention, a "blunt instrument to raise consternation." He pointed to the "wealth of resources out there these days" that anyone can use to determine if they are being paid fairly.

For the first time, most publicly traded companies have to report to the Securities and Exchange Commission what their CEOs are paid compared to their typical worker. For instance, Goldman Sachs CEO Lloyd Blankfein earned $22 million in total compensation in 2017 compared to $135,165 for his typical employee, or a 161 to 1 ratio. Some companies, including local heavyweights Raymond James, Bloomin’ Brands and Jabil, use a different fiscal year, so they haven’t yet reported their pay ratio.