Meh. Lemmy hates me when I point this out, but executive compensation is a drop in the bucket vs. gross or even profit. It’s just not a big deal, but they make a fine target to shoot at. Easy to see and focus on.
Did the math on American Airlines a couple of years ago. If their CEO took a $0 salary, every single employee could get a $.19/hr. raise. (It was worse than that, but I forget, don’t want to exaggerate. Think it worked out to <$250/yr. bonus, if that. Chicken change.)
They’re fucking us by death of a thousand cuts, but CEO pay isn’t it.
Are you including stock stuff in this calculation?
I had a recruiter reach out to me for a job that was focused on facilitating people using stock as collateral to get personal loans. I think that’s one of the mechanisms rich people use to leverage their non-cash wealth without paying taxes. I told him that sounded like it should be illegal, and that was the end of that.
As others pointed out, salary is only one part of executive packages.
Their CEO is not the only exorbitantly paid executive.
Even if that was so, cumulative effects across society from this standardized system of disproportionate remuneration can be massive. Every major firm, or nearly every major firm, pays into this system - every firm that goes under on a narrow margin is killed in part because the grain supplier must charge an extra 3% (using a random-if-high number for demonstration) over the rest of their costs and profits calculations for the exorbitant wage of their execs - that price is factored into the flour supplier’s cost - who also then must charge an extra 3% on top of that for their execs- that price is factored into the bread supplier’s cost - likewise, who must charge an extra 3% for THEIR execs - and that price is factored into the local grocery store, who, again, must both factor the raised costs caused by paying all the previous companies’ execs, and pay their own execs the remuneration they are accustomed to. The end result is a massive burden on the consumer that many do not fully understand is inherent to the system.
Even if we exclude cumulative effects, a 20 cent raise is 400$ per year per person.
It’s the problem of being infested with parasites. Each individual parasite can complain that it barely takes any blood to keep them fat and bloated, but once all of the parasites are added up, you’re left with a sickly society.
Meh. Lemmy hates me when I point this out, but executive compensation is a drop in the bucket vs. gross or even profit. It’s just not a big deal, but they make a fine target to shoot at. Easy to see and focus on.
Did the math on American Airlines a couple of years ago. If their CEO took a $0 salary, every single employee could get a $.19/hr. raise. (It was worse than that, but I forget, don’t want to exaggerate. Think it worked out to <$250/yr. bonus, if that. Chicken change.)
They’re fucking us by death of a thousand cuts, but CEO pay isn’t it.
Are you including stock stuff in this calculation?
I had a recruiter reach out to me for a job that was focused on facilitating people using stock as collateral to get personal loans. I think that’s one of the mechanisms rich people use to leverage their non-cash wealth without paying taxes. I told him that sounded like it should be illegal, and that was the end of that.
As others pointed out, salary is only one part of executive packages.
Their CEO is not the only exorbitantly paid executive.
Even if that was so, cumulative effects across society from this standardized system of disproportionate remuneration can be massive. Every major firm, or nearly every major firm, pays into this system - every firm that goes under on a narrow margin is killed in part because the grain supplier must charge an extra 3% (using a random-if-high number for demonstration) over the rest of their costs and profits calculations for the exorbitant wage of their execs - that price is factored into the flour supplier’s cost - who also then must charge an extra 3% on top of that for their execs- that price is factored into the bread supplier’s cost - likewise, who must charge an extra 3% for THEIR execs - and that price is factored into the local grocery store, who, again, must both factor the raised costs caused by paying all the previous companies’ execs, and pay their own execs the remuneration they are accustomed to. The end result is a massive burden on the consumer that many do not fully understand is inherent to the system.
Even if we exclude cumulative effects, a 20 cent raise is 400$ per year per person.
It’s the problem of being infested with parasites. Each individual parasite can complain that it barely takes any blood to keep them fat and bloated, but once all of the parasites are added up, you’re left with a sickly society.
Meh. Giving bonuses, dividends, and then posting profits, whilst paying a dogshit wage is incredibly tone deaf. Do you know who generated that wage?