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If you're not happy with your pay, do something about it. If you are stuck in a dead end job, do something about it. If you are a victim of the system, do something about it.
I make a good living because I did something about it. I barely passed high school. Lost my full ride to college in the first semester due to binge drinking, I've been addicted to everything imaginable including coke and meth, and yet through all of this, I found the will to better myself. I haven't made less than six figures in the past 18 years and I've even had several months that would equal what most average victims of oppression make in 2-3 years. I did this by educating myself, working smart and setting goals. You can achieve anything you put your mind to. Stop being a victim and start being a victor...
Unfortunately things will get a lot worse before they get any better. The conditions just don't exist for everyone to be able to pull themselves up by their bootstraps. One of the reasons things won't be getting any better is this firm denial that things are getting worse.
Those are hardly "average" CEO's. This should be a disclaimer every time CEO pay rantings are posted. I am an average CEO with a small business and there are far more of us than the large publicly traded companies. There were several years were people that worked for me made more than I did as the CEO.
Aside from that, take the full 10mil a year away and distribute it to the large number of employees in those businesses. They may be able to hit Burger King with their share. It will make absolutely no difference greatly reducing their salaries, it is all about envy. The vast majority of us will never be in that category of salary, me included. Most of us could care less and are far more interested in putting ourselves in a position to maximize our earnings without trying to tear down someone else.
Actually, typically the best way to think of a "golden parachute" is an insurance contract for/against the CEO. The CEO is typically already proving him/herself pretty well somewhere else. The CEO wants some reassurance that the company won't just turn around and undercut them 1 year later after the CEO gives up a relatively good paying job to come work for them(CEO's are rarely hired from the ranks of the unemployed, not never... but rarely). Typically this "parachute" clause ensure the CEO will be paid pretty well if the board chooses to fire them a year later.
Alternatively the company wants to make sure the CEO won't jump ship for the next company that comes and offers more money. There's usually a sign on bonus for starting as a CEO and the company doesn't want to pay that only to have to be searching for a new CEO in a few months. The "parachue" enables them to make it harder for the CEO to quit(since they'd be giving that up in some cases) and most importantly allows them to make sure the CEO of McDonald's doesn't start working for BurgerKing. No compete clauses are almost always included in these as well.
Also, most CEO's are paid primarily in stock. So yeah, they may get millions, but they would lose even more if they drove the company into the ground. In a lot of cases the parachute is really just the board buying the now Former CEO out of all his stock because they don't' want him having any say in the company anymore.
Not saying they're always justifiable, just that they're not thoughtless, and as with many things, there was usually a good intention somewhere along the line.
Let the golden-parachuted CEO leave, and say "good riddance". He doesn't have any specific skill, certainly isn't licensed to do anything ( engineer, physician, etc), and absolutely isn't worth the money spent on him.
Let the golden-parachuted CEO leave, and say "good riddance". He doesn't have any specific skill, certainly isn't licensed to do anything ( engineer, physician, etc), and absolutely isn't worth the money spent on him.
If you have the skill set to run good-sized business in a competent manner, you are a highly skilled individual. Most CEOs of good-sized companies are highly skilled and competent.
Without putting a whole lot of thought into it, it seems to me that people are worth what somebody is willing to pay for their services, so I would say, yes, people are paid what they are worth.
They deserve it. They work over 250 times harder than the average worker, and are at least 250 times more intelligent. They also 'create wealth'. It is only fair that some of that wealth gets used to pay them for their hard work.
" The head of a typical large public company earned a record $10.5 million, an increase of 8.8 percent from $9.6 million in 2012, according to an Associated Press/Equilar pay study.
And the problem with that is? what?………..
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