An average Google employee made about $ 300,000 by 2021; on the other hand was an Aptiv employee in Mexico who took home $ 7,400.
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The salaries of middle-class employees in many large American companies are higher than before the epidemic, and the robust labor market helps raise payday rates for many bankers, factory workers, and software developers.
Compensation in 2021 for mid-term employment in 275 companies on the S&P 500 index was higher than in 2019, including 150 companies when it increased by 10% or more since 2019, according to a Wall Street Journal analysis. The majority of firms reported that their average workers' compensation for 2021 had dropped by 10% or more.
More than 140 companies, including Netflix Inc. NFLX 1.98% ▲ and steelmaker Nucor Corp., NUE 3.51% ▲ said their average employee was paid at least $ 100,000 last year. More than a dozen companies, including Walmart Inc. WMT 1.97% ▲ and Home Depot Inc., HD 1.87% ▲ said their average employee made less than $ 30,000 by 2021.
Note: Excludes companies that have not reported payment data for one or two years. Marathon Petroleum, which has sold its line of convenience stores since 2019, is not on display; its conversion to median salary was 441%.
Competition for hourly workers intensified last year in all industries. Some companies pay bonuses to attract or retain new employees, as stores, offices, and airports reopen or increase in capacity. White workers, especially in the technical and financial sectors, were in high demand over the past two years.
The unemployment rate in the US was 3.6% in April, almost the same half of the low 3.5% achieved just before the epidemic hit the US, in early 2020. unemployed people looking for work, while the number of strikes reached 4.5 million a month — both very high.
Big pay days are on the way for many workers this year — for the highest paid and for those who lower scales. Amazon.com Inc. AMZN 3.66% ▲ increases its base salary limit to $ 350,000 from $ 160,000, while Apple Inc. AAPL 4.08% ▲ said it would increase wages and its minimum hourly wage for U.S. workers. up to $ 22. Starbucks Corp. SBUX 2.98% ▲ has promised a minimum increase of 5% for baristers who have worked for two years or more, and Bank of America Corp. 0.95% AC BAC increases its low U.S. earnings. up to $ 22 per hour from July.
The journal analyzed the annual disclosure of nearly 450 companies using data from fulfillment securities. As of about 2018, U.S. companies public traders have been required to identify a middle-class employee of their global staff and disclose that person's compensation, including overtime and benefits, in the same way they calculate the total compensation of senior executives and other senior executives.
While companies must calculate the amount of compensation for their middle-class employees under strict rules, they are free to identify the middle-class employee in the first place. Some use salary or salary alone to rank employees from the highest to the lowest, while others include bonuses, commissions or stock rewards. The journal contacted companies in the analysis and showed responses to those who responded.
Here are some of the key points taken from the analysis of the journal:
Pay Over $ 100,000
Twelve of the 25 highest paid employees in 2021 were in technology companies or technology-driven media forums, including Facebook parent Meta Platforms Inc. FB 1.83% ▲ and Netflix.
On top of the Journal analysis was Google parent parent company, Alphabet Inc., GOOG 4.16% ▲ while the average employee earned $ 295,884, up 14% from 2019 and an 8% increase from 2020.
Cybersecurity Company Fortinet Inc. FTNT 1.21% ▲ shows the fastest rising wages in the technology sector. The Fortinet average worker, the same person over the past three years, had paid $ 202,875 last year, up from $ 122,329 in 2019.
Motivated by the benefits of the epidemic, many Wall Street banks and financial institutions are paying their employees more than they were three years ago. The only financial firm of the top 25, however, was Atlanta-based investment management company Invesco Ltd., IVZ 1.56% ▲ where the average employee's salary increased by 50% from $ 125,282 in 2019 to $ 187,854 last year. .
Less than $ 30,000
Forty-one companies claim to pay their average employees less than $ 30,000 by 2021. By 2019, that figure was 56. Most of the companies were retailers, supermarkets and fast food chains that hired many hour or part-time workers.
A Median Home Depot employee earned $ 28,697 last year, up 27% from $ 22,652 in 2019.
Malman earnings at Walmart have risen 21% by 2021 since last year, with the world's largest private employer raising more than 565,000 to its 1.6 million American employees in December. Recently, Walmart increased the initial salaries of in-house truck drivers to $ 110,000 a year.
The lowest in the journal analysis was the provider of automated parts Aptiv PLC, APTV 2.56% ▲ where the average worker was paid $ 7,402 by 2021, according to two years ago. The average worker is "a full-time worker based in Mexico, where competitive wages vary widely from the average U.S. hourly rate," the company said.
Great Swings
Pay MPC for Marathon Petroleum Corp.'s MPC 2.63% ▲ The average worker who grew up during the epidemic, reached $ 148,805 last year from $ 27,507 in 2019. But the 2019 figure included employees from Speedway stores at a refined oil store sold for 7-Eleven. Inc. last year.
With the exception of Speedway and its many part-time employees, Marathon said the pay for the middle-class employee dropped 29% from $ 210,248 in 2019. The level of compensation in the Marathon is in line with the specialty of its staff, the spokesman said.
Employment has led to significant changes reported, as new employees are often paid less than the existing ones. Central employee of Delta Air Lines Inc. DAL 3.43% ▲ gained 41% less by 2021, at $ 70,240, than $ 118,198 for 2019, mainly due to the large number of new employees we have added as the trip has been intensified. Last year, Delta employed about 11,000 employees, representing more than 13% of its employees.
Other major changes are explained by the differences in companies operating in several countries. According to International Flavor & Fragrances Inc., IFF 1.50% ▲ its 2019 average employee was in a manufacturing facility in Tilburg, Netherlands, and was paid $ 38,981. Last year, an IFF mediator worked at a Pennsylvania facility and was paid $ 66,105.
Remuneration dropped significantly at Carnival Corp., CCL 5.75% ▲ although the tourism company was still operating significantly below the pre-epidemic volume. Its average salary of 64,988 crew on its fleet was $ 8,658 in 2021 affected. In 2019, it was $ 15,429 out of 154,161 employees.