It would just take 23 hours and 15 minutes for the average supermarket CEO to earn the annual salary of a shop floor colleague on the minimum wage, new research has revealed.
According to the think tank, High Pay Centre, based on academic analysis, supermarket CEOs make nearly £750 an hour compared to a minimum wage of £8.91.
The news comes as calls grow for supermarkets to commit to paying all staff a real Living Wage. Despite over 9,000 businesses paying their staff – and being accredited by the Living Wage Foundation – not one supermarket is accredited.
READ MORE: Co-op appoints first-ever female CEO
As a result, it is estimated that over 350,000 supermarket workers in the UK earn below the real Living Wage. Low pay in supermarkets disproportionately affects women, Black, Asian or Minority Ethnic (BAME) workers, disabled and part-time staff.
According to the research 49% of female supermarket workers earn below the real Living Wage, compared to just 35% of men.
At the same time, 44% of workers from BAME backgrounds are more likely to earn below the real Living Wage than their white counterparts.
Some 55% of part-time workers are also more likely to earn below the real Living Wage than full-time workers, with half of disabled workers in supermarkets earning below minimum wage.
Click here to sign up to Grocery Gazette’s free daily email newsletter
1 Comment. Leave new
There isn’t really a comparison; however, a good leading supermarket CEO is probably worth in the region of £2m per annum if they improve profitability and share price.