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Does Your Boss Really Deserve Pay THAT MUCH Higher Than Yours

Posted April 16th, 2014 @ 1:51pm by Chuck LaTour, WOOD Radio news team

Michigan's CEO's make 171 times more money than the average worker in the state and 455 times more than full time minimum wage workers, according to the AFL-CIO’s 2014 Executive PayWatch.

The latest list, which tracks CEOs of S&P 500 Index companies, shows the annual salary of a chief executive in Michigan is $7,004,386. That compares to the earned annual income of the average worker in the state, which stands at $40,898 and to $15,392 made by minimum wage workers.

The list shows most of the state's top paid execs are in the Metro Detroit area, with Brett A. Roberts of Southfield-based Credit Acceptance Corp. topping all CEOs in Michigan with $53.4 million in compensation in 2012. Nationally, U.S. CEOs on average made $11.7 million in 2013, about 331 times more than the average American worker and 774 times more than the country’s minimum wage earners

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