Minnesota's CEOs Get Paid 305 Times More Than You Do

U.S. Bank CEO Richard Davis has 19 million reasons to smile.

U.S. Bank CEO Richard Davis has 19 million reasons to smile.

The average working Minnesotan earns $46,000 annually. CEOs at publicly traded S&P 500 companies in the state get paid a mean $13.8 million -- or 305 times more than you do, according to the AFL-CIO's annual report on executive pay.

See also: US Bank CEO Richard Davis Made an Extra $8.5 Million in 2014

New Target Corp. CEO Brian Cornell topped the list. The retailer's head exec enjoyed a cool $28 million total compensation package in 2014. The sum included the perk of more than $100,000 worth of personal flights on corporate jets.

Cornell's pay was 779 times what the average U.S. worker makes at $36,000 annually.

Other state CEOs who enjoyed a bullish 2014 were: U.S. Bancorp's Richard Davis, who received $19.4 million in 2014; UnitedHealth Group Inc.'s Stephen Hemsley at $14.9 million; and Ameriprise Financial Inc. CEO Jim Cracchiolo, whose package totaled almost $25 million.

On a positive note, the earning chasm between Minnesota CEOs and the rest of us was smaller than the national average.

According to the report, CEO pay nationwide averaged $13.5 million per year. That's 373 times what the average American worker makes.

Before you get too pumped, consider: Davis's salary at U.S. Bank last year represented a 79 percent raise from the prior year.

According to the Bureau of Labor Statistics, the average American worker's hourly raise from 2013 to 2014 amounted to 40 cents.

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