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The CEO of a Bel20 company will have earned as much on Tuesday as a normal employee would in a year. This is what the French-speaking Christian employees’ union CNE says and is therefore declaring January 9th “CEO Jackpot Day”.
According to the union, the average wage of an employee in Belgium is 3,878.7 euros gross per month. According to CNE, the CEO of a company in the Bel20 – the index of the twenty most important stocks on the Brussels Stock Exchange – earns this amount in 5.2 working days. “Such a CEO earns fifty times the average salary,” it is said.
According to CNE, the average salary of a Bel20 CEO in 2022 was 2.7 million euros, or almost 10,390 euros per day. In comparison, the average annual salary of an employee is just under 54,000 euros.
The union also points to the development of real wages since 2014. While wages for the CEO of a Bel-20 company rose 37 percent between 2014 and 2021, the increase for the median wage was 6 percent, according to CNE.
The French-speaking Christian workers’ union is again calling for the abolition of the 1996 collective bargaining law because it blocks possible wage increases for a large proportion of employees.
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