Tuesday, July 30, 2013

Fast Food Chains: high profits and low wages?

English: A Burger King bacon cheeseburger.
English: A Burger King bacon cheeseburger. (Photo credit: Wikipedia)
Median earnings for fast-food workers in NYC are $18,000 per year.


Average McDonald's franchise owners reportedly make $250,000 per year.


Mickey D's net earnings for the first quarter of this year were $1.27 Billion.


In 2011 McDonald's CEO was paid $8.8 million.  It has been estimated that the typical McDonald's worker would have to work 550 years to make that much.


My own calculation is a mere 488 years ($8.8 million divided by $18,000 for the average NYC fast-food worker, per the first story, above.)

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