CEO Pay Up 50% Since 2019, Worker Wages Lag at 0.9% Growth

A new global analysis by Oxfam has revealed that while corporate CEOs around the world are witnessing explosive growth in earnings, ordinary workers are seeing little to no real wage gains. The 2025 report outlines a stark disparity in income growth, showing that global CEO pay has risen by 50% in real terms since 2019, whereas workers’ wages have increased by a meager 0.9% over the same five-year period. The result is a widening pay gap that underscores systemic inequality within the global labor market.

According to the data compiled by Oxfam from 11,366 corporations across 82 countries, the average CEO now earns 56 times more than the average worker. In countries like Ireland and Germany, the average CEO salary has reached $6.7 million and $4.7 million respectively. Even in emerging economies like India and South Africa, CEO pay is soaring, with averages of $2 million and $1.6 million respectively.

"This isn’t a bug in the system; it’s the system working as designed,” said Oxfam International’s executive director Amitabh Behar. “While executives rake in millions, workers are struggling to make ends meet amidst rising costs of living and stagnant wages.”

Oxfam’s report is particularly alarming given current global economic conditions, where inflation, rising rents, and healthcare costs continue to pressure low- and middle-income families. The analysis points out that billionaires, many of whom own or partially control these major corporations, gained an average of $206 billion in new wealth in the last year alone. That translates to $23,500 per hour—more than the global annual average income of $21,000 in 2023.

Despite reports from the International Labour Organization (ILO) showing that global real wages grew by 2.7% in 2024, this growth is far from evenly distributed. In many countries like France, South Africa, and Spain, wage growth was less than 1% last year, a rate that fails to keep up with inflation and the rising cost of living.

The report also highlights ongoing gender inequality in the workplace. Oxfam found that while the gender pay gap has narrowed slightly—from 27% in 2022 to 22% in 2023—progress remains sluggish. In effect, women across these 11,000+ corporations are still working "for free" on Fridays, with their weekly compensation trailing that of their male counterparts by the equivalent of one full workday.

One of the few silver linings in the data is the growing global push for pay transparency. More corporations are now legally required to disclose gender pay data, which could be a critical step in addressing long-standing disparities. Still, the current figures make it clear that legislative pressure alone is not enough to close the gap.

The implications of this wage imbalance extend beyond corporate boardrooms. Rising income inequality is fueling social discontent, weakening social cohesion, and threatening long-term economic stability. Oxfam argues that the system is structured to reward wealth accumulation at the top, while average workers are left behind in a stagnating wage economy.

In addition to the widening pay gap, the global working class is now facing another threat: the impact of international trade policies, particularly U.S. tariffs. These new trade barriers, especially those introduced under former U.S. President Donald Trump’s administration, could disrupt global supply chains, raise costs on essential goods, and trigger job losses—particularly in low-income countries.

“For many workers around the world, Trump's tariffs are a move from one cruel policy regime to another,” said Behar. “It’s a shift from exploitative neoliberalism to protectionist nationalism—and neither puts workers first.”

Oxfam's findings underscore the urgent need for economic reform that centers workers and reduces corporate greed. Among their recommendations are mandatory wage ratios between top executives and entry-level employees, higher corporate taxes, robust union protections, and improved social safety nets.

As wealth continues to be concentrated in fewer hands and corporate earnings soar, the voices of everyday workers calling for fairness grow louder. While CEO compensation packages balloon into the millions, even in low-wage economies, millions of workers remain stuck in a cycle of economic insecurity, despite being the backbone of corporate productivity.

The challenge now is not merely to recognize the scale of inequality but to take decisive steps to dismantle the systems that enable it. From boardrooms to legislative chambers, real reform will require a fundamental reevaluation of what constitutes fair compensation—and who gets to decide it. As the global economy teeters between recovery and crisis, the decisions made now will shape the nature of work and wealth for years to come.

Would you like a visual comparison chart of CEO vs worker pay growth from 2019 to 2024?