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