Everyday I read about a CEO who's making 200 million while his employees can barely survive. Who's idea was this to give these astroniomical amounts to one person and not across the board to all workers ? Why is society accepting this scam?
Don't you think the pay structure of the CEO is unfair towards workers who work harder than CEO?
- Thread starter Claudia Love
- Start date
Shhhhhhh we’ve got the Boomers convinced that you need to live to work. Don’t screw it up on the rest of the younger generations
CEO compensation is one of the reasons our economy is so fucked up. It started about 25 or 30 years ago where some big name CEO announced his compensation. Then, CEOs of other companies used that figure to leverage higher pay from boards. It because the standard that they would get (depending on the company) a big base salary, plus bonuses and stock compensation. And let's not forget the golden parachutes they negotiated for themselves, so even when they fuck the dog they get rewarded.
So, the stock comp is interesting, because this is where a lot of short sighted decisions are made. They look at ways of pumping up the value of the stock so they can make even more money. They re-invest profit to buyback shares to raise the price...so they can make money. That cash could have been used for strategic purposes like acquisitions, expansions or even R&D. It's one reason that when a financial crisis hits they all say they're weeks from bankruptcy or some sort of bullshit like that.
Finally, I read a few weeks ago that a CEOs job could probably be handled by artificial intelligence and machine learning. It would be significantly more efficient and cost a hell of a lot less...But, while these corporate overlords look to replace workers through automation, they would never allow that to happen to their jobs...
So, the stock comp is interesting, because this is where a lot of short sighted decisions are made. They look at ways of pumping up the value of the stock so they can make even more money. They re-invest profit to buyback shares to raise the price...so they can make money. That cash could have been used for strategic purposes like acquisitions, expansions or even R&D. It's one reason that when a financial crisis hits they all say they're weeks from bankruptcy or some sort of bullshit like that.
Finally, I read a few weeks ago that a CEOs job could probably be handled by artificial intelligence and machine learning. It would be significantly more efficient and cost a hell of a lot less...But, while these corporate overlords look to replace workers through automation, they would never allow that to happen to their jobs...
(This is not a shot… just a discussion)
In fairness…. That’s like saying “shouldn’t escorts be more generous with their bodies and make their rates more affordable for people struggling to pay rent and living on the streets”.
Should agencies offer $20 car jobs for the poor?
You enjoy the ability to set your rates, based on what the market is for your services…. Should landlords not have that ability? Should company owners not also set their wages the same way?
In fairness…. That’s like saying “shouldn’t escorts be more generous with their bodies and make their rates more affordable for people struggling to pay rent and living on the streets”.
Should agencies offer $20 car jobs for the poor?
You enjoy the ability to set your rates, based on what the market is for your services…. Should landlords not have that ability? Should company owners not also set their wages the same way?
I agree that their salaries are ridiculous, but many of them worked very hard in the past and used their brains to get to where they are. They got to the tops of their fields and it wasn't by luck.
That may be true but that doesn't really justify the exorbitant salaries and bonuses they make. Do they really offer that much wisdom or guidance when most of them are supported by large teams of other very capable people? Who's to say it's only the CEO who is responsible when a company does well and the stock price goes up? Also fair earlier comment on severance. I know of one EVP who was paid $6M to leave when a new CEO took over the company.
I agree with that.
The probem is CEO's pay jumped by 329% since the last 30 years. Average worker? Nada. That's not normal.
It is called capitalism not laborism. And as Winston Churchill said: It is the worst system except for all the others that have been tried
Your job is one of the hardest ever. You can complain about CEO compensation only if you accept that someone can dictate to you how much you should charge
and how many people made a good return on their investment believing in these companies and investing in them early.
People can complain against Jeff Bezos or Elon Musk however they employed a lot of people during this pandemic and made things better for the world and are holding up the economy from collapsing. I also strongly despise Bezos but acknowledge the positive he has done. We couldn’t achieve this level of support during pandemic without what Amazon has accomplished and the infrastructure they built.
absolutely this ^^^
As a businessman, I earn an exceptionally large, almost excessive total compensation every year, but it didn't happen overnight and it definitely wasn't easy. Mostly a combination of hard work, brain power, support from others, but at least in my case also a LOT of good luck. I treat them and pay them fairly, but the rest is up to them.
When I speak to employees or other organizations, I try to instill an understanding that a lot their personal success depends on them, not me at the top of the tree. I will never apologize for being successful or having a lot of money, because I know what it took to get there and by extension to get that money. I don't owe anyone anything by way of explanation. Do I give back to the community? Yes in many ways. It's out a sense personal, moral and ethical obligation. Not every CEO or business leader is like me though.
That said, if the egalitarian, democratic, capitalist model in North America doesn't work for you, maybe try going to live/conduct business in China, Cuba, Russia, or some arab nation and see if you like it better.
It is extraordinarily simple:
PRIVATE enterprise.
PRIVATE PROPERTY (that the owners have ALREADY paid tax on by the way) that the OWNERS get to decide on who gets what. Since the owners are using their own funds, they get to decide.
NONE OF YOUR BUSINESS if you are not a shareholder, and if you are, make your opinion known, then own or sell the shares as you wish.
If you are an employee, also none of your business. You are being offered wages. If you like the deal, take the job, otherwise don't.
I couldn't care less how much CEOs are making, if I don't own the company, it is literally none of my business.
Do you know how many billionaires there are in Canada? 53. That's 53 out of 38 million people. While I don't exactly know how many of those are CEOs of corporations, I bet it's a lot less than 53. I for one am not going to lose sleep over how many "rich" people there are in this world. Is it fair? That's a dumb question. It is what it is. There's a lot of things that aren't fair in this world. Many of which can't simply be solved by distributing the rich people's wealth among the less fortunate.
Make the best for yourself, work hard, live your life as best you can. Don't sweat the little things you can't change, like stinky rich people. Life's short...
Wise words to live by. Oh, also don't lose sleep over some guy who has a bigger cock than you. Having a huge cock is so overrated.
Years ago I was approached by a life insurance company --- to sell life insurance policies. The trick to wealth is to bring in more new agents. That way you get a skim of each each new agent's commission. Let say you bring in 25 new agents. They do the hard work of selling life insurance policies. You are on a beach in Bermuda drinking a cola and getting a skim of their commission and the commission of the new agents they bring in. Not bad, eh.
I don't begrudge anyone who has made it to the top in their field.
And I certainly don't give one iota how much they are being compensated.
Chances are they earned every penny of it.
Nope I just worry about myself and what I can do to improve my situation and maybe with a lot of sacrifice here and some timely positioning there things will work out.
Got to love free enterprise.........Just like napalm in the morning.
And I certainly don't give one iota how much they are being compensated.
Chances are they earned every penny of it.
Nope I just worry about myself and what I can do to improve my situation and maybe with a lot of sacrifice here and some timely positioning there things will work out.
Got to love free enterprise.........Just like napalm in the morning.
