CEO Pay Skyrockets at Expense of Workers: Lowe's, Home Depot, Walmart Highlighted

A new report by the Institute for Policy Studies claims that CEO pay at publicly traded companies continues to skyrocket at the expense of workers. The report cites Lowe's, Home Depot, and Walmart as examples of companies prioritizing CEO pay and stock buybacks over employee compensation. The median pay of Lowe's CEO Marvin Ellison was $20.2 million in 2024, 659 times the median pay of an employee.

A recent report by the Institute for Policy Studies (IPS) has revealed that executive compensation at the country’s 100 largest low-wage employers, collectively known as the “Low-Wage 100,” has reached unprecedented heights. The report, titled "Executive Excess," scrutinizes six years of pay and investment trends at major publicly traded companies, including household names like Lowe's, Home Depot, and Walmart. The analysis reveals that while CEO pay has surged, worker compensation has stagnated or even declined.

From 2019 to 2024, average CEO pay at Low-Wage 100 firms climbed by 34.7%, compared to a mere 16.3% rise for their average median worker pay. This disparity is particularly stark at companies like Lowe's, where the median pay of CEO Marvin Ellison was $20.2 million in 2024, 659 times the median pay of an employee [3].

The report also highlights that these companies have been prioritizing stock buybacks over employee compensation. For instance, Lowe's and Home Depot have been actively courting professional customers to boost sales, but this has not translated into significant wage increases for their employees. Instead, these retailers have been focusing on acquisitions to expand their product offerings, such as Lowe's recent acquisition of Foundation Building Materials for about $8.8 billion [2].

The report suggests that this trend is not unique to the retail sector. It is part of a broader trend where executive compensation has been outpacing worker compensation across many industries. This has significant implications for income inequality and public perception of corporate responsibility.

The Institute for Policy Studies has called for policy changes to address this disparity, including reforms to corporate reporting on pay and a more equitable distribution of wealth. However, the report notes that such changes will require significant political will and public support.

References:
[1] https://www.manifest.co.uk/ceo-pay-soars-uk-executive-compensation-smashes-record-high/
[2] https://www.retaildive.com/news/lowes-acquire-foundation-building-materials-pro-business/758228/
[3] https://fortune.com/2025/08/21/wealth-inequality-ceo-worker-pay-gap-low-wage-employers/