- The median Amazon worker made $29,007 in 2020, a $159 increase from the year prior.
- The CEO-to-worker pay ratio is 58:1 at Amazon, which is lower than Walmart, CVS, and others.
- Amazon raised its minimum wage in the US to $15 per hour in 2018.
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The median Amazon worker made $29,007 in 2020, according to the company’s annual proxy statement.
The median pay, calculated using the compensation of all full- and part-time permanent and temporary employees worldwide except the CEO, was a $159 increase from the year prior.
Bezos earned 58 times that in 2020, with an annual compensation of $1,681,840, the same as the year prior. In other words, he makes more in one week than the median Amazon worker.
The company noted other major corporations have even higher CEO-to-worker pay ratios, with Walmart’s at 983:1, and CVS at 434:1, according to Payscale.com.
But that’s just Bezos’ salary. The Amazon CEO’s net worth ballooned by tens of billions of dollars during the COVID-19 pandemic as the company’s shares rallied amid the rise in online shopping. Bezos owns about 10% of Amazon stock or 53 million shares.
The CEO, who is stepping down from his role later this year, has a nearly $200 billion fortune, making him the wealthiest person in the world. He’s rivaled by Tesla CEO Elon Musk, whose worth has passed him a couple times this year, according to Fortune. But Bezos remains at the top.
As for Amazon’s US full-time employees, they saw more of a wage boost in 2020.
The company reported a median annual compensation of $37,930, a boost of $1,290, resulting from “special bonuses and incentives awarded to our teams in 2020 in recognition of their role serving communities during the COVID-19 pandemic,” Amazon said in its proxy.
Four months into the pandemic last June, Amazon dropped its $2-per-hour hazard-pay bump for 250,000 warehouse workers as the company announced its highest sales growth in three years. Amazon said the boost was always temporary.
Full-time US workers also got an approximate $1,500 boost in 2019 from the year prior after the e-commerce giant raised its US minimum wage at the end of 2018 to $15 an hour. The company had faced criticism for the wage gap between workers and C-suite executives, CNBC reported at the time.
In his final letter to shareholders as CEO, Bezos wrote that, “Two and a half years ago, when we set a $15 minimum wage for our hourly employees, we did so because we wanted to lead on wages – not just run with the pack – and because we believed it was the right thing to do.” The company previously called out other big employers, including Walmart, for not raising its wages to $15.
Bezos said in the letter the company is aiming to be “Earth’s best employer.”