business news in context, analysis with attitude

•  From the Seattle Times:

"Amazon’s median full-time U.S. employee made $36,640 in 2019, up $1,544 from the year before, the company disclosed in a securities filing Friday.

"That increase in total compensation, including salary, bonus and stock grant value, but not a host of benefits including health insurance and parental leave, stems from the $15-an-hour wage floor the company implemented in late 2018. More than 500,000 of the company’s nearly 800,000 workers are in the U.S.

"Global median compensation for Amazon employees was $28,848, up $12 from 2018. Founder and CEO Jeff Bezos, one of the world’s wealthiest people, received total compensation from Amazon in 2019 of about $1.7 million, the majority of which was for personal security, according to Amazon’s preliminary proxy statement.

"His compensation is used to calculate Amazon’s CEO pay ratio — a required disclosure comparing executive compensation to median employee compensation — of 1-to-58, unchanged from 2018."

Amazon must be defining "total compensation" differently than I would … if they are listing it as $1.7 million.  I guess stock isn't part of the equation … which probably isn't all that reassuring to global median employees who got a $12 raise last year.