National Consumers League

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Wall Street CEO pay is outrageous, needs stricter regulations

money_hands_icon.jpgWritten by Elese Chen, NCL Intern

According to Fortune, the combined CEO salaries of America’s six biggest banks totaled a whopping $123 million in 2015. With an average pay of $20.5 million per executive, that is estimated to be 455 times the salary of the average American worker. While millions of Americans are still struggling to overcome the financial crisis, Wall Street CEOs have continued to stockpile greater wealth over time. The average pay for Wall Street CEOs rose nearly 10 percent last year in contrast to the meager 1.6 percent increase in wages for the average American worker.