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Started By
Message
Company CEO’s getting increasing pay.
Posted on 6/4/24 at 4:30 pm
Posted on 6/4/24 at 4:30 pm
Last year the average CEO for Fortune 500 companies made 196 times more than their average median paid employees. The median pay package for CEO’s was 16.3 million per year. I know it’s a free enterprise, but this just doesn’t sit right with me. Especially when a few board members scratch each other’s back by helping set the pay for one another.
46
Posted on 6/4/24 at 4:32 pm to Cycledude
How would you suggest we change this?
Posted on 6/4/24 at 4:33 pm to Cycledude
If a company is profitable and most employees have decent pay then no issue with it. If a company is not making profit, then executives do not get massive bonuses. That's bullshite.
I once worked for a company that was bleeding money for years and the CEO and his minions couldn't care less. They left the company with golden parachutes while everyone else got fired by the company that acquired them.
I once worked for a company that was bleeding money for years and the CEO and his minions couldn't care less. They left the company with golden parachutes while everyone else got fired by the company that acquired them.
Posted on 6/4/24 at 4:34 pm to Cycledude
quote:
Last year the average CEO for Fortune 500 companies made 196 times more than their average median paid employees
So?
Posted on 6/4/24 at 4:36 pm to Cycledude
Now do companies that have gotten public money and turned around and paid huge bonuses with it.
Posted on 6/4/24 at 4:37 pm to jcaz
quote:
If a company is not making profit, then executives do not get massive bonuses.
Companies can grow massively without generating a profit. Not all companies currently plan to generate a profit
Posted on 6/4/24 at 4:37 pm to Cycledude
I'm far from some "eat the rich" type person but the gap between the top and the bottom in these companies is massive and its a huge problem.
Posted on 6/4/24 at 4:38 pm to Cycledude
Maybe if you millenials applied yourselves and quit trying to work from home you could one day be ceo like us boomers
Posted on 6/4/24 at 4:39 pm to el Gaucho
quote:
Maybe if you millenials applied yourselves and quit trying to work from home you could one day be ceo like us boomers
Just lay off the avocado toast
Posted on 6/4/24 at 4:40 pm to Cycledude
quote:
Last year the average CEO for Fortune 500 companies made 196 times more than their average median paid employees.
I'll admit that is a huge gap and really bad optics, but when was the last time you saw an "average median paid employee" get called into a congressional hearing? When has the "average median paid employee" been held personally liable for a business decision? Or been charged with corporate non-compliance?
Posted on 6/4/24 at 4:40 pm to jcaz
quote:
They left the company with golden parachutes while everyone else got fired by the company that acquired them.
Yep. Once you're in the CEO group, you just bounce around from place to place getting 8 figure payouts whether you're successful or not. The whole corporate culture is rotten.
Posted on 6/4/24 at 4:40 pm to upgrayedd
quote:
I'm far from some "eat the rich" type person but the gap between the top and the bottom in these companies is massive and its a huge problem.
I agree with this but the market is part of the problem. If you tried to pay what is "fair" that company would never hire anyone
Posted on 6/4/24 at 4:41 pm to upgrayedd
quote:
the gap between the top and the bottom in these companies is massive and its a huge problem.
Why is it a problem though
Posted on 6/4/24 at 4:41 pm to Cycledude
quote:
In 2024, the Fortune 500 companies cumulatively included $18,144,255,000,000 (18.1 trillion) in revenue and consisted of 30,407,481 (30.4 million) employees
The avg fortune 500 has 60,000 employees.
Lets take your number of $16.3 million, and pay them $1 and then pay the rest to the 60,000 employees. That's $507 each.
So its $500 per employee maximum change. Not exactly life changing.
This post was edited on 6/4/24 at 4:42 pm
Posted on 6/4/24 at 4:42 pm to Upperdecker
quote:
Companies can grow massively without generating a profit. Not all companies currently plan to generate a profit
Exactly. Bezos told shareholders he would not make a profit while he initially grew the business. They didn’t turn one until their 10th year. Seems to have turned out ok.
This post was edited on 6/4/24 at 4:43 pm
Posted on 6/4/24 at 4:42 pm to Green Chili Tiger
quote:
I'll admit that is a huge gap and really bad optics, but when was the last time you saw an "average median paid employee" get called into a congressional hearing? When has the "average median paid employee" been held personally liable for a business decision? Or been charged with corporate non-compliance?
I haven't seen any CEO get punished after a congressional hearing either. Hell, even the ones that get bailed out by the govt get paid. If you want to pay me to have congress wag their finger at me, I'll take the money.
Posted on 6/4/24 at 4:43 pm to 9Fiddy
CEO pay is the populist wet dream. But when you divide it by employees, its literally pennies per hour.
Posted on 6/4/24 at 4:44 pm to LSU6262
quote:
Why is it a problem though
Well, stagnant wages through inflation seems like a pretty big issue.
Posted on 6/4/24 at 4:44 pm to Cycledude
Become the CEO or stop bitching.
Posted on 6/4/24 at 4:45 pm to upgrayedd
quote:
Why is it a problem though
Well, stagnant wages through inflation seems like a pretty big issue.
Is the assertion that CEO salaries are what are in the way of this not being an issue?
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