Chief executives at the nation’s top restaurant companies earn more in a single morning than the average minimum-wage cook, dishwasher or server does in an entire year, according to research from the Economic Policy Institute.
Last year, head honchos at major eatery chains reeled in $11,884,000 on average, including options, according to the institute. In 2008, they made roughly $3 million in overall compensation.
When Don Thompson took over as McDonald’s Corp. CEO last year, he got a 26% raise to a $1.1-million base salary.
The Economic Policy Institute, a nonprofit think tank known for its liberal bent, said that full-time minimum wage workers in the industry earn $15,080 a year.