pay ratio is a horrible measure.. there is one CEO that guides the entire company and has significant effect on the companies decisions and direction which ultimately is a win or lose for the company.
The average employee represent large numbers of generally low-skill workers. I dont think I've ever ordered something at mcdonalds without someone messing up my order... their quality of work is minimum just as their wage is, and thus fair.
In fact there is only one CEO and tens of thousands if not hundreds of thousands of employees. But that ratio CEOs should make 10x more, not less.