How much UAW workers make compared to the CEOs of the Detroit automakers
(CBS DETROIT) - UAW workers have reached their 14th day of striking against the Big Three automakers, and agreements still haven't been reached.
The union started striking on Thursday, Sept. 14, at 11:59 p.m., after the UAW failed to reach agreements with Ford, General Motors and Stellantis before contracts expired.
Among the union's demands are a 36% pay raise, a four-day work week and better benefits.
UAW President Shawn Fain says the demand for a 36% pay increase, which was initially set at 40% before it was lowered, reflects the pay increase that the CEOs at the Detroit automakers have received over the last four years.
"The reason we ask for 40% pay increases is because, in the last four years alone, the CEO pay went up 40%," Fain said on CBS News' Face the Nation. "They're already millionaires."
How much does an average UAW worker make?
An average autoworker makes about $28 per hour, according to the U.S. Bureau of Labor Statistics.
This wage increased by about one dollar from the previous year.
In addition, an autoworker's pay also depends on their tenure with the company.
One of the union's demands includes the elimination of the two-tiered wage system. Second-tier autoworkers include those who joined the company after 2007. Those individuals make about $17 per hour on average.
How much do the Big Three CEOs make?
According to SEC filings for 2022, General Motors CEO Mary Barra made almost $29 million last year.
Stellantis CEO Carlos Tavares made about $24.8 million, and Ford CEO Jim Farley made about $21 million.
Barra told CBS News that 92% of her pay is based on the automaker's performance for that year.
Fain giving update on UAW strikes on Friday
Fain will provide an update on the strikes this Friday, Sept. 29.