By the numbers: Companies keep resisting rules requiring them to disclose how much more their CEOs earn than average workers. So the AFL-CIO is doing the math for them. As USA Today reports, CEOs in the AFL-CIO’s pay database released today earned an average of $13.5 million last year. That’s 373 times more than the $36,000 per year paid to the average production and nonsupervisory worker, says the AFL-CIO. CEO pay, as documented by the AFL-CIO study, increased 16% in 2014. The AFL-CIO is a labor union representing workers’ rights. The average CEO pay reported by the AFL-CIO is in line with the $12.7 million calculated using S&P Capital IQ data as of a few weeks ago and $14.3 million average reported among the largest 100 companies calculated by Equilar and compensation consultant Towers Watson. Read the full story.
Down the drain: American workers are throwing away $24 billion each year. As The Washington Post reports, that’s how much is left on the table annually by employees who don’t save enough in their retirement accounts to take advantage of the full employer match, according to estimates from Financial Engines, an investment advisory firm that studied the savings habits of 4.4 million plan participants at 553 companies. One in four employees missed out on at least part of the match, according to the report. For the average employee, the missed opportunity is equivalent to turning away a check for $1,336 each year. Read the full story.
Feeling crowded: Work-life balance has traditionally been an unfamiliar concept at big law firms, but that might be changing. Bloomberg reports a majority of managers at firms say they employ too many lawyers and those lawyers are not busy enough, according to a survey released by consultancy Altman Weil. Among the 320 managing partners and chairs Altman Weil polled, 60% reported that overcapacity was making their firms less profitable. At large firms—more than 250 attorneys—the problem was even worse: 74% of leaders said idleness was hurting profit. Read the full story.
