The pay gap between CEOs and their employees has widened over the past half decade, according to an analysis by Agenda of S&P 500 proxy statements.

In 2022, half of all S&P 500 CEOs earned at least $183 for every dollar earned by their company’s typical employee. This value is $16 higher than it was in 2018, when the SEC first required companies to disclose a number representing the ratio between CEO and median employee pay. At the same time, shareholders are increasingly taking issue with boards’ oversight of workforce issues, while recent events like the February court ruling against Tesla CEO Elon Musk’s $56 million pay package has caused some companies to reevaluate their approach to executive compensation.