Next Sunday, the Swiss (yes, the Swiss) will vote in a referendum on whether to enshrine the 1:12 pay ratio in their constitution. In a move by the Social Democrats and Greens to combat corporate greed and income inequity (the ratio of top to bottom earners in Swiss firms has grown from about 1:6 in 1984, to 1:43 today) the intention of the bill is to:
….limit the pay of top executives to just 12 times that of the lowest-paid employees at the same firm. In other words, prevent CEOs from earning more in one month than the lowliest shop-floor worker earns in a year.
The cartoon promo above features a Swiss nurse who is astounded by the way top manager salaries have grown to “astronomical” proportions, even as hers has barely increased.
(Pic: 1:12′ flags adorning various houses in Bern and Zurich in November 2013. REUTERS/Staff)