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Originally Posted by Tully Mars
This whole pay the CEO nearly 500 times what the average worker makes is crap, pure crap. Company loses billions? Pay the CEO more, but lay off a few people and outsource to India. Company loses billions and billions? Send the CEO packing but give him a few hundred million on his way out the door. And lay off lots of folks.
Crap, pure crap.
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I'm a CEO.
I make about 4* what my average worker makes. I am aiming for 10*.
Thats going to be going down a lot (1* very shortly) as I have a huge new investment and being the CEO/Owner means I take the loss. Right now I need to be making about 2500 a day to break even. Thats not paying me, thats just breaking even keeping the lights on. I'm not making that, I'm not breaking even, I have the gigantic risk out there, you bet your ass I'm going to be making more than the person who does a single job, is replaceable, and has no risk.
But I know you weren't talking about a CEO such as myself. I'd just like to point out that America has millions of CEO's out there, working their asses off, and sometimes losing everything doing so, while creating jobs for many many millions more people. This is what makes America an economic powerhouse.
But lets talk about those you were really talking about. The CEO's of giant companies who personally get paid millions of dollars.
They make a lot of money, for the same reason a professional athlete makes a lot of money. Not that many people have the skills to be the CEO of a giant mega corporation. Honestly, its impressive what some of these people do, but like a super star athlete sometimes it doesn't work out and the guy got paid a lot of money for doing a poor job. Its a risk.
But corporations don't hire these people to piss away money, they get paid that because its required to get people to do the job. Do you think someone is going to work at that level and take on that kind of responsibility without great compensation? Its been tried and its not worked out well. Some people are worth more to your business than others, sometimes 500* more.
If corporations could get way with paying the CEO what they pay the janitor, they would in a heart beat.