Walmart's CEO Paid 1,034 Times More Than The Median Walmart Worker: PayScale

03/29/2013 01:18 pm ET
  • Bonnie Kavoussi Master's student in economics, the University of Michigan

Meet Mike Duke, king of the CEO-to-worker pay ratio.

The Walmart CEO gets paid 1,034 times more than the median Walmart worker, according to a new analysis by PayScale, a salary information website.

Duke, who raked in $23.15 million last year, contended in December that the retail giant pays "competitive wages." Half of Walmart workers made less than $22,400 in 2012, according to PayScale, which is below poverty level for a family of four.

Walmart spokesman Randy Hargrove called PayScale's calculation "inflated" in a statement provided to The Huffington Post on Friday.

"His [Duke's] fiscal 2012 base salary of $1.26 million is less than 7 percent of his total compensation and he will only earn a significant majority of his overall compensation package if the company meets performance goals aligned with shareholder value and our key financial priorities – growth, leverage and returns," Hargrove wrote. "The fact is we offer unprecedented opportunity for associate advancement and we give our associates the chance to share in the company’s success."

Check out how Walmart's CEO-to-worker pay ratio compares to some of America's other best-known companies, according to PayScale:

CEO Pay in Perspective

Earlier on HuffPost:

CEOs Who Get Paid Significantly More Than Their Employees

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