Back when news cycles revolved around Wall Street’s “occupation,” there rumbled some discontent over the inequality in pay between the employees of large companies and their management. MSN News rehashes this sometimes still. One perennial whipping boy is Wal-Mart Stores, Inc. Doug McMillon, its President and Chief Executive Officer, earned $25.6 million in 2013; $23 million was paid in the form of stock options, such that Mr. McMillon’s actual take-home pay was $2.6 million. In contrast, the average Wal-Mart employee earns roughly $10.00 an hour.
Mr. McMillon began his career as an hourly associate in a Wal-Mart distribution center. He rejoined the company as assistant manager of a Tulsa, Oklahoma store while pursuing an MBA. He became a buyer trainee, then served in various leadership roles. He serves on the boards of directors of the Consumer Goods Forum, Enactus, and the Crystal Bridge Museum of American Art. He also serves on the advisory board of the Tsinghua University School of Economics and Management in Beijing, China; the executive committee of Business Roundtable; and the Dean’s Advisory Board for the Walton College of Business at the University of Arkansas. He previously served on the boards of directors of the U.S. China Business Council and Walmart Mexico. He has been recognized as a Young Global Leader by the World Economic Forum.
It is true there is a great inequality in pay between corporate workers and management.
There is also a great inequality of ability.