DALLAS — This year, public companies were required to disclose their median worker's pay for the first time and the numbers give insight into the disparity between salaried, highly-specialized workers and part-time, hourly employees.
The median worker at Exxon Mobil, HollyFrontier and Pioneer Natural Resources make the top three salaries respectively, according to proxy statements filed by the top 25 public companies in DFW.
To explore the median pay for DFW’s largest public companies, click here.
The Dodd-Frank Wall Street Reform and Consumer Protection Act required companies to calculate and present median worker compensation in the most recent proxy filings for the first time. The median worker wage was included in a comparison with CEO pay.
The Dallas Business Journal analyzed the filings for the 25 largest public companies headquartered in the DFW Region. The filings represented the 2017 fiscal year and some companies included benefits like 401ks, bonuses and stocks in their calculation of workers' compensation. All companies followed guidelines set by the SEC.
Exxon Mobil Corp.’s (NYSE: XOM) median worker is estimated to earn $161,562 a year — just .9% of what CEO Darren Woods collected in the same year. Exxon is the largest public company headquartered in DFW and made more than $237 billion in revenue in 2017. Woods was the second highest paid CEO of the companies analyzed, only coming behind AT&T’s Randall Stephenson.
Exxon’s employees are making nearly 20 percent less than Houston’s Halcón Resources Corp. (NYSE: HK), who had the highest median pay in the city that now dominates oil and gas.
The median HollyFrontier Corp. (NYSE: HFC) employee brought home $131,621, followed by Pioneer Natural Resources Co.'s (NYSE: PXD) median worker pay of $118,769.
While oil and gas companies are typically comprised of higher-paid, salaried workers, such as engineers, North Texas-based retail companies paid their employees the least amount annually.
For example, J.C. Penney Co.’s (NYSE: JCP) average worker made $14,366 per year, the least of any of the top companies. However, J.C. Penney notes that a majority of their employees are part-time and nearly all are paid hourly. Because of the nature of their workforce, the gap between the then-CEO Marvin Ellison and the median employee was by far the largest. Ellison made 753 times more than J.C. Penney’s median worker.
The gap between Stephenson and the median AT&T (NYSE: T) employee is also notable. Of the approximately 252,000 other AT&T employees, the median worker made $78,437. Stephenson was the highest-paid CEO, receiving $28,720,720 for the year. It would take 366 typical employees pooling their salary to equal the same amount.