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Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

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Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#91

Post by nerdponx »

hinkley wrote: post #58
astrange wrote: post #51

Earlier quoted context omitted.

If you underpay elected officials then 1. they just start taking bribes 2. only rich people will run in the election. This is why Singapore pays them even more than we do. Anyway, minimum wages (despite being ok policies) aren't what people are actually paid, and of course aren't especially what non-working people are paid. And remember that non-working people, namely children and the elderly, are poorer than workers…

THEY ALREADY DO Nobody said the multiple has to be 5. It could be whatever the current ratio for Singapore is.

It's like selling your data to ad tech companies. They'll do it no matter how much you pay for the product.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#92

Post by waynesonfire »

pratheekrebala wrote: post #72
gretch wrote: post #55

Earlier quoted context omitted.

I support the workers' decision and negotiating on labor rates is the basis of our economic system. Get what you deserve. That said, the CEO pay is easily explainable: > Profits at the struck auto companies increased 92% from 2013 to 2022, totaling $250 billion, according to EPI > CEO pay at the Big Three has grown 40% in the last decade, according to EPI If you're the CEO of a company and you increased profits by 92…

The workers also contributed to that 92% increase in profit.

And they got 18.1% for it.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#93

Post by kortilla »

thechao wrote: post #19
kortilla wrote: post #12

Earlier quoted context omitted.

There is no academic training to be a good CEO. They are not easily replaceable. If they were, board members wouldn’t bother offering such high pay. Shareholders don’t appreciate wasting money.

They've become 14.6x more efficient at ... what? Increasing their pay? C'mon.

Price is based on how difficult it is to find someone that won’t drive a massive company awry, not based on them becoming better.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#94

Post by amarshall »

gretch wrote: post #55
econperplexed wrote: post #8

> From 1978 to 2021, CEO pay grew by 1,460%, adjusted for inflation, versus just 18.1% for the typical worker. Why has the supply of CEOs not kept up with the demand for them? Surely, with the improvement in education and in increase in MBA programs, there must be far more CEOs today than in 1978. Why has the ratio of CEOs to Companies fallen by 14x for their wages to rise this much? /s As many argue, wages are only…

I support the workers' decision and negotiating on labor rates is the basis of our economic system. Get what you deserve. That said, the CEO pay is easily explainable: > Profits at the struck auto companies increased 92% from 2013 to 2022, totaling $250 billion, according to EPI > CEO pay at the Big Three has grown 40% in the last decade, according to EPI If you're the CEO of a company and you increased profits by 92…

> If you're the CEO of a company and you increased profits by 92%

This assumes that the increase in profit is attributable primarily to the CEO. Well, that at least 43% (40/92) of it is.

> Just ask for what you think you deserve and don't work if you don't get it. It's as simple as that.

This only really works with unions. Fortunately, these workers have one.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#96

Post by smfjaw »

candiddevmike wrote: post #71
r3trohack3r wrote: post #47

Earlier quoted context omitted.

Not all jobs have quantitative measures for impact. The more a job is decoupled from a measurable value, the more likely that job is to be bid up to "as much as the company can afford." I've seen this in my career, the closer I get to "SRE" or "platform engineer" the more decoupled my salary has become from my actual measurable value. I'd articulate the thinking as, roughly: We know this role is important. We know th…

SREs aren't on the board of directors setting the pay for other SREs who are on their board of directors though. The elite/ownership/"capitalism winner" class are playing on an entirely different level with their power and influence. Don't kid yourself into drawing comparisons with your situation and miniscule in comparison compensation. It's always heads they win, tails you lose.

[flagged]

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#97

Post by aaomidi »

Alupis wrote: post #74

Settle in for a wild propaganda-filled fall season. Between UAW Strike, SWG Strike, barely avoided UPS Strike, and probably a few I'm leaving out, we're going to be inundated with half truths, misdirection, selective statistics and even the occasional outright lie. UAW opening demand isn't just a 40% pay hike - but also a four day workweek (when combined is ~70% increase in pay). Nobody expects for UAW to get everyth…

4 day work week has been successful in most places. As a world we should move towards it.

Other benefit: less environmental impact, more time for people to improve themselves and their mental health, etc.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#98

Post by Alupis »

hinkley wrote: post #26
tysam_and wrote: post #9

There is an equation with an equilibrium: CEO's pay rate = (some multiplier) * median salaried worker's pay rate OR CEO's pay rate = (some multiplier) * minimum salaried worker's pay rate We've been conditioned to think it's not fair somehow, but the discrepancy is just....engorgingly terrible. I'm not arguing for how this metric would be enforced, only that it would be a good one to have. Especially in a time when g…

It's also been suggested that Congressional salaries be a fixed multiple of minimum wage, and for similar reasons. Honestly I think that would probably fix things a lot faster.

> suggested that Congressional salaries be a fixed multiple of minimum wage

That's insane no matter how you look at it.

Minimum wage is paid by individuals, private businesses and their owners. Congressional pay is paid for with your money - an effective infinite of your money, or they'll just poof new money out of nowhere to continue to pay themselves.

Correlating the two is plain wrong.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#99

Post by l33t7332273 »

dymk wrote: post #54
kortilla wrote: post #12

Earlier quoted context omitted.

There is no academic training to be a good CEO. They are not easily replaceable. If they were, board members wouldn’t bother offering such high pay. Shareholders don’t appreciate wasting money.

Of course there is training to be a CEO. Do you think all the good CEOs were born with the knowledge to be a CEO?

[flagged]

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#100

Post by nitwit005 »

gretch wrote: post #55
econperplexed wrote: post #8

> From 1978 to 2021, CEO pay grew by 1,460%, adjusted for inflation, versus just 18.1% for the typical worker. Why has the supply of CEOs not kept up with the demand for them? Surely, with the improvement in education and in increase in MBA programs, there must be far more CEOs today than in 1978. Why has the ratio of CEOs to Companies fallen by 14x for their wages to rise this much? /s As many argue, wages are only…

I support the workers' decision and negotiating on labor rates is the basis of our economic system. Get what you deserve. That said, the CEO pay is easily explainable: > Profits at the struck auto companies increased 92% from 2013 to 2022, totaling $250 billion, according to EPI > CEO pay at the Big Three has grown 40% in the last decade, according to EPI If you're the CEO of a company and you increased profits by 92…

CEO pay has gone up pretty much across the board, significantly outpacing workers for several decades, even at companies that have not done well.
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