Oxfam, the international research and advocacy group, reports a dramatic increase in global CEO compensation, with average pay rising by 50% in real terms since 2019.
The increase sharply contrasts with a mere 0.9% rise in average worker wages during the same timeframe, highlighting a growing pay gap between top executives and the global workforce..
Oxfam’s analysis indicates that the average global CEO now earns $4.3 million annually, an increase from $2.9 million in 2019 when adjusted for inflation. The average CEO salary in India has reached $2 million per year. Ireland and Germany have the highest averages, at $6.7 million and $4.7 million, respectively. In South Africa, CEOs earn an average of $1.6 million.
It’s International Workers’ Day! We wish we could celebrate workers everywhere getting fair pay compared to CEOs and billionaires, but since 2019, worker wages increased just 0.9%, while CEO pay surged by 50% !? https://t.co/LfXHCyt9qK It's time to #FightInequality. pic.twitter.com/Uu4OPXtnPs
— Oxfam International (@Oxfam) May 1, 2025In comparison, average workers have seen their wages increase by less than 1% over five years, and in some countries, real wage growth remains stagnant. For example, real wage growth in France, South Africa, and Spain was just 0.6% last year, according to the International Labour Organisation (ILO).
The report also highlights the rapid accumulation of billionaire wealth. On average, billionaires gained $206 billion in new wealth over the past year, equivalent to $23,500 per hour, far exceeding the global average annual income of $21,000. Oxfam notes that billionaires, who often own significant shares in large corporations, are accumulating wealth at a rate that vastly outpaces the earnings of ordinary workers.
Oxfam’s analysis of 11,366 corporations across 82 countries found that the average gender pay gap narrowed from 27% to 22% between 2022 and 2023. Despite this slight improvement, the average female employee in these companies still works for free every Friday, while her male counterparts are paid for the entire week. This persistent gap underscores the need for stronger policies and transparency in corporate pay reporting.
Amitabh Behar, Executive Director of Oxfam International, criticised the current system: “Year after year, we see the same grotesque spectacle: CEO pay explodes while workers’ wages barely budge. This isn’t a glitch in the system – it’s the system working exactly as designed, funnelling wealth upwards while millions of working people struggle to afford rent, food, and healthcare.”
The report also warns of new threats to worker well-being, including sweeping US tariffs that could lead to job losses and higher prices for basic goods, further deepening global inequality.
