The survey also compared CEO pay to that of union workers. Here the gap between CEO and average worker pay was less at just more than 242 times, while the typical CEO earned more than 819 times what a worker earning minimum wage would take home in a year.
"The income inequality that exists in this country is a disgrace," AFL-CIO President Richard Trumka said in a statement.
With executive compensation increasingly tied to stock and stock option grants, executive pay has been trending higher for years in tandem with the stock market's performance. In 1980 the gap was much narrower, with CEOs earning 42 times what the average worker did, according to the report.
This year's report also highlighted the companies with the highest levels of profits that are kept overseas, a practice critics say prevents the companies from paying higher U.S. corporate taxes.
The AFL-CIO maintains reinvesting those profits overseas is unpatriotic and said the $2.4 trillion held offshore could fund among other things, new hospitals, schools and fire stations at more than 7,900 communities.