For just $12.38 per iPhone, Apple could pay its workers a livable wage.
Today Apple’s shareowners will vote to approve the compensation packages of its top executives at its Annual Shareowner meeting in Cupertino, CA. The company broke records last quarter selling 74.5 million iPhones and earning $18 billion in profits.
Executives will be rewarded lavishly:
Tim Cook, CEO: $1.7 million salary, $9.2 million total compensation
Other senior VPs: $947,596 salary, $28 million average total compensation
What won’t be discussed at the meeting is the ongoing struggle of the workers who make Apple’s highly profitable products. While executives earn millions, workers make a little over $3/hour. In order to earn enough to cover living expenses workers rely on overtime, sometimes working as many as 64 hours per week at one Apple supplier, according to China Labor Watch.
We’ve estimated that Apple could pay its 1.5 million workers a decent wage for only $12.38 more per device. That’s just 7% of its profits last quarter.
Our latest infographic breaks this down.
Would you pay $12.38 more per iPhone to ensure workers are earning decent wages?
Apple could, and Apple should.
 Analyzing Labor Conditions of Pegatron and Foxconn: Apple’s Low-Cost Reality, China Labor Watch