CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
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Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#2It's just a matter of time before people revolt, we went from something like 1:6 employee:employer comp ratio to 1:400 (and much more for a lot of companies, up to 1:5000+)
If we could harvest energy from the hardcore early capitalist theorists rolling in their graves we'd have infinite energy at that point
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#3> This escalation of CEO compensation and of executive compensation more generally has fueled the growth of top 1% and top 0.1% incomes, leaving fewer of the gains of economic growth for ordinary workers and widening the gap between very high earners and the bottom 90%.
I ignore every article that separates the top 1% from ordinary workers.
In the UK, to be in the top 1% of earners you need to earn 120K GBP gross a year, or 74K net. Don't tell me you are anything other than an ordinary worker with that. As a side note, you will also earn less net than a household of two earning 50K gross each, are they also not ordinary workers?
I don't give a single fuck about the salary of the 0.0001% of the population that is billionaire CEO, that's not the problem. The problem is that basic necessities have been turned into a profit-printing machine and you pay 2K a month for a 500 square feet apartment in London.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#4It's just a matter of time before people revolt, we went from something like 1:6 employee:employer comp ratio to 1:400 (and much more for a lot of companies, up to 1:5000+) If we could harvest energy from the hardcore early capitalist theorists rolling in their graves we'd have infinite energy at that point
What does a revolt look like? People can live in unimaginable conditions and not revolt. The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#5If that pay didn't go to the CEO, who would get it? The shareholders.
And who are the shareholders? The wealthiest 10% own almost 90% of stocks.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#6> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate
This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the stock goes up or down because his pay stays the same. By tying the CEO's salary to the stock price, you're telling them that they can make a killing if the company makes a killing.
It's unfair but it's necessary.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#7> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…
How about you fire them if they don't perform and only hire people who perform well. Even with this incentive most CEOs don't perform well and many gut their companies to raise the stock price and leave.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#8> CEOs are getting ever-higher pay over time because of their power to set pay and because so much of their pay (more than 80%) is stock-relate This is the key to their high compensations, and in some ways it has to be like that because how else are you going to incentivize a CEO to raise the value of the company? Say a CEO was paid exactly what the engineers at a company were paid, it doesn't matter to him if the st…
Wow, really? The CEO needs to be incentivized 399 times? Pretty sure anything more than 0 would work. Wow, just wow that someone can actually think and better yet write it out. Nobody needs a 399X incentive. That is just stupid.
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#9> This escalation of CEO compensation and of executive compensation more generally has fueled the growth of top 1% and top 0.1% incomes, leaving fewer of the gains of economic growth for ordinary workers and widening the gap between very high earners and the bottom 90%. I ignore every article that separates the top 1% from ordinary workers. In the UK, to be in the top 1% of earners you need to earn 120K GBP gross a y…
It's more like 170k.
https://www.statista.com/statistics/1224844/monthly-pay-of-e...
Re: CEO pay skyrocketed 1,460% since 1978: CEOs paid 399 times as much vs. worker
#10It's just a matter of time before people revolt, we went from something like 1:6 employee:employer comp ratio to 1:400 (and much more for a lot of companies, up to 1:5000+) If we could harvest energy from the hardcore early capitalist theorists rolling in their graves we'd have infinite energy at that point
What does a revolt look like? People can live in unimaginable conditions and not revolt. The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world.
CEOs getting insane pay doesn't exist in a vacuum. You can't use the "trickle down" economy as a proverbial carrot when people can't put gas in their car or heat their home while Bezos&co buy a new yacht every other day
> The idea that if things get bad enough "people" are going to do something about it can just occur to someone that hasn't seen enough of the world.
Or I'm French, who knows ;)
Continue selling ports to China, continue selling sport clubs to Qatar, apartments to Emiratis, continue to delocalise industries to third world countries to save on labor, continue to force people into precarity, to force them into shittier and shittier jobs while asking them to work longer hours and retire at 67 for less and less quality of life. I'm telling you, at some point people won't have anything to lose and heads will start rolling