Like to earn $7,073 per hour on workers’ comp?

Call now for a free consultation
Available 24/7

Injured? It’s Time to Get Some Answers

Don’t let the insurance adjuster push you around. Request your free consultation today.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
Get Help From our Michigan Workers’ Comp Lawyers Today
You’re not alone. Our Michigan workers’ comp lawyers have been called the best in the state, and we pride ourselves on providing you with care, trust, and responsiveness.

Michigan CEOs paid 795 times more than minimum wage and what this means for your maximum workers’ comp rate.

Fox 2 Detroit has a great article about income disparity between Michigan CEOs and rank-and-file workers.

Average compensation for a S&P 500 CEO was $14,712,548 in 2016. This works out to be $7,073 per hour or 795 times minimum wage. Regular production and nonsupervisory workers earned just $37,600 per year.

Wages are a big factor when it comes to calculating workers’ comp benefits. Disabled employees are supposed to receive 80% of after-tax value of their average weekly wage. This is approximately 60% of gross pay. However, the maximum workers’ comp rate is limited to $870 per week.

The idea is to limit wage loss benefits to 90% of the state-wide average weekly wage. This means high wage earners are stuck with an arbitrary maximum regardless of their income. The good news is disabled CEOs are stuck earning just $870 per week under workers’ comp. The bad news is everyone else is limited too! Some people have their benefits cut even more based upon residual wage earning capacity and “phantom wages.”

We are strong advocates for paying a living wage and think it is time to end the maximum rate. Let’s pay disabled employees 100% of their lost wages. How many millionaire S&P 500 CEOs get their hands dirty anyway?

Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled workers exclusively for more than 35 years. Call (844) 316-8033 for a free consultation today.

Related information:

Penalizing low wage earners is a tragedy

Photo courtesy of Creative Commons, by free pictures of money.

Leave a Reply

Your email address will not be published.

Author Bio Jeffrey Kaufman

Author
Jeffrey E. Kaufman
Michigan Workers Comp Attorney

Jeffrey E. Kaufman has extensive experience in workers compensation cases and has recovered millions of dollars in benefits for his clients. He believes all injured workers deserve to be on equal footing with insurance companies and employers, and fights tenaciously so their rights are secured and protected.


“Jeff also helped me with getting my Blue Cross bills paid. I would absolutely recommend him and the whole firm. Jeff and the firm did everything they were supposed to do for me and my case.”
Ricardo Perfetto

Hundreds of 5-Star Reviews

Related Blog Posts

Get Help From our Michigan Workers’ Comp Lawyers Today

You’re not alone. Our Michigan workers’ comp lawyers have been called the best in the state, and our clients love how they’re treated with care, respect, and responsiveness. We will give you the time you need, we will explain your legal rights, and we will always treat you with respect.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Injured? It’s Time to Get Some Answers

Don’t let the insurance adjuster push you around. Request your free consultation today.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.