At the McDonald’s annual shareholder meeting on May 22, CEO Don Thompson claimed that his company “has a heritage of providing job opportunities that lead to ‘real careers.’”
It’s true, former CEO Jim Skinner, who never graduated from college, joined the fast-food giant as a management trainee in 1971 and rose to the top spot in 2004.
But the McDonald’s of today does not seem like the same land of opportunity it must have been when Skinner got his start at the company. [...]
A Demos report entitled “Fast Food Failure” found that fast-food “wages have increased just 0.3 percent in real dollars since 2000.” [...]
The SEC has not yet finalized the Dodd-Frank requirement for disclosure of CEO-to-median-worker pay, so it’s impossible to compare McDonald’s CEO pay to the median or average McDonald’s worker pay, said Catherine Ruetschlin, the Demos study author.
Read the report: Fast Food Failure: How CEO-to-Worker Pay Disparity Undermines the Industry and the Overall Economy
