BUSINESS

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

MUMBAI, INDIA: Vice-chairman of Wal-Mart stores, one of the world's largest retail chains, Mike Duke talks to the media durin
MUMBAI, INDIA: Vice-chairman of Wal-Mart stores, one of the world's largest retail chains, Mike Duke talks to the media during a walk-about in a mall in Mumbai, 22 February 2007. Duke and a four-member team toured several of India's retail shopping malls along Mumbai's northern suburbs, accompanied by high security. In hushed talks, he met officials of Bharti Enterprises, one of the country's top private telephone firms and with whom a preliminary deal was signed late 2006 to start a countrywide store chain run under a Wal-Mart franchise. AFP PHOTO/ Sajjad HUSSAIN (Photo credit should read SAJJAD HUSSAIN/AFP/Getty Images)

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:

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