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Because rewards add value at the marginal level, not absolute. A healthy economy dictates that it does in fact take more in terms of absolute dollars to attract a top talent than it does lower level. The curve of wages/employable person is not linear, and in reality never has been. They are paid for the value they bring. If a CEO makes $11 million, but increases share price by $3, more often than not (depending on the company, obviously) he has more than earned his keep. If he/she didn't deserve that much money, someone else who was making less would step up, go after the job for less money and get it.
I agree with a lot of what you say here. But, it's really hard to not think that at some point it's just too much money. I think that there is a difference between a CEO, an owner, and an investor. I can understand why an owner or an investor makes a lot. But, I feel like CEOs are employees.
I have a few problems with CEOs.
1.) the difference in pay compared to even "middle" tier employees
2.) they make so much money I could figure out what to do with it and I would like to see the wage gap shrink
3.) It seems link CEOs are driving companies into the ground, and getting paid pretty well to do it. Like AARP, Lehman Brothers, Kmart, Pennys, Sears, etc.
Quote:
Originally Posted by hnsq
I could ask you the same question: why do you deserve the money you make?
I've always found this a weird question. It's one often asked in interviews, for me it's still a weird concept.
Quote:
Originally Posted by hnsq
You also never addressed my other point. Are you comfortable permanently taking $503k/hour out of the economy for your plan to go into effect?
I know, I haven't decided exactly what I think about that.
Quote:
Originally Posted by hnsq
My life WAS terrible for the years I followed that budget. It also allowed me to make something of myself. I sacrificed three years of my life so that I could buy a house in my 20's and build the skills to prove I deserved a great job. Is it arrogant to tell someone to suck it up for a few years and make something of themselves? Apparently you think so.
How does it change anything? How does that plan get ride of aid? I don't think what your saying is arrogant, but I think it doesn't change the situation. The 704k workers are not all going to do it, and it will not get rid of aid.
Even if you say they average 20 hours a week, which I find really low it still provides a larger economic benefit. So my point still holds true. It doesn't break even until you get down to around 14 hours a week. I was working off of the data I have seen that shows just under 60% of their store employees are full-time.
350*.58 = 203 employees in a given supercenter work at least 35 hours a week.
35*203=7105
15*147=2205
If you use those #s the average employee would work 26.6 hours.
Read the articles. It doesn't matter what you think is really low, it's a fact that Walmart employees usually don't work over 20 hours in a week. Secondly, it's not of greater economic benefit if most of the employees are on some sort of welfare because their wages are so low. Walmart employees cost taxpayers over one billion a year because they aren't provided with health care benefits. You're just spouting things off without bothering to do any research, so your posts are pointless.
I agree with a lot of what you say here. But, it's really hard to not think that at some point it's just too much money. I think that there is a difference between a CEO, an owner, and an investor. I can understand why an owner or an investor makes a lot. But, I feel like CEOs are employees.
I have a few problems with CEOs.
1.) the difference in pay compared to even "middle" tier employees
2.) they make so much money I could figure out what to do with it and I would like to see the wage gap shrink
3.) It seems link CEOs are driving companies into the ground, and getting paid pretty well to do it. Like AARP, Lehman Brothers, Kmart, Pennys, Sears, etc.
I've always found this a weird question. It's one often asked in interviews, for me it's still a weird concept.
I know, I haven't decided exactly what I think about that.
How does it change anything? How does that plan get ride of aid? I don't think what your saying is arrogant, but I think it doesn't change the situation. The 704k workers are not all going to do it, and it will not get rid of aid.
Just an FYI most of those making min. wage are part-time too. Of the 1.57 million hourly employees that make min. wage at any age (16 and older) only 501k are making min. wage and working full-time. So even if you assumed that was equally distributed across age that would mean it's actually closer to 235k workers age 25 and older that are full time and make min. wage.
67% of those earning min. wage in the US work at part-time positions.
Read the articles. It doesn't matter what you think is really low, it's a fact that Walmart employees usually don't work over 20 hours in a week. Secondly, it's not of greater economic benefit if most of the employees are on some sort of welfare because their wages are so low. Walmart employees cost taxpayers over one billion a year because they aren't provided with health care benefits. You're just spouting things off without bothering to do any research, so your posts are pointless.
Walmart doesn't break down numbers for part-time and full-time workers but noted that full-time workers account for the majority of its workforce.
How can they not usually work over 20 hours a week and be full time at the same time?
Part-time employees at Walmart do qualify for healthcare so you are wrong there, but nice try.
It is of greater economic benefit because the other option is that the other 250 would be fully on welfare.
If there were other better paying jobs out there they would already be taking them. The fact that they are not is evidence to suggest that if those 250 people lost their job they would be relying solely on the govt. instead of partially on the govt.
You are also working under this huge assumption that the majority of employees at Walmart rely on govt. aid. Roughly 1/3rd (31%) of the retail workforce are between the ages of 16-24 and 2% are old enough to be collecting SSN. If welfare is a huge issue at Walmart we have a bigger societal issue, because that means that people that are defined as kids according to Obama are relying on welfare as well. Unless of course you believe that everyone 75% of employees at Walmart that aren't in either of those categories are on welfare of some form.
I read your articles. The first one is nothing but a guys insight into what a successful retail outlet looks like. He does not show any data at all.
The CNN discusses the fact that 3,200 Walmart employees are on some form of govt. aid. The state of Wisconsin has roughly 85 stores and at least 2 Distribution Centers. If they employ no one else they have roughly 30k employees in the state.
So according to that approximately 11% of employees are being provided some sort of govt. aid. Is that really that high of a number for a low wage retail/fast food job, especially considering it is likely someone working part-time. 60 million people in the US are on welfare or food stamps or roughly 20%. It's starting to look like Walmart isn't that far off line with the rest of the US, isn't it?
Are you being serious with this Daily Kos article? As many as 80% of Walmart employees are on food stamps? Surely the article has evidence to show that. I can say that 95% of employees at Target are on food stamps. Do you believe me? I sure wouldn't. A link to data would really help with the credibility here.
Last edited by mizzourah2006; 11-25-2013 at 03:45 PM..
The very simple thing is that if you do not like whatever WM is doing, leave it alone; if you think there is a better way to do it, do it by yourself: create a Z-Mart or whatever mart and use your own creation to implement what you think is right instead of trying to push whatever you think is right on others who do not agree with you. You can decide how much to pay to your employees because that is your business. (If you want to decide WM's business, you can apply to their CEO position. The time you sit on the WM throne, it will be your turn.)
If you pay them well, I am sure they will all run to you. All you need to do is open your arms to them. You will be a real life savior. I would wish your business to survive as long as the earth.
Last edited by TheBookofLife; 11-25-2013 at 03:46 PM..
Why does everyone pick out Walmart and McDonald's employees as such low paid workers?
They are paying pretty much in line with the industries they are in.
Below according to the BLS the median wage in retail by industry. Median means taking all the people in the industry, adding all their wages together, then dividing by the number of people in that industry. The median wage, shows the result of a huge percentage below that figure, and the ones that make more than median. Note the median wage is just over $10 per hour in different type retail stores. They start at minimum wage, and over time get a little more, or are put where they sell bigger ticket items, and they start getting commission, etc., so they are very well paid. Add these all together, and you come up with a median of only just over $10 per hour.
Walmart, McDonald's, etc., pay no better or no worse than the industry standard. You can't expect them to pay more than the big name stores, and restaurants pay, or the mom and pop places of business pay. They are in competition with all of these, and paying the going wage rate for the industry is all we should expect. Back in my younger days just out of the Navy, I sold furniture in high end department stores and upscale furniture stores. The women and men clerks, got 50 cents an hour (minimum wage) plus over time they got small raises annually (nickle and dime), but in today's dollars to make it easy to understand I was making over $125,000 per year due to commission, which was many times what the regular hourly clerks were making.
Walmart and McDonald's are paying what the industry pays overall. If you stay with them, you earn more due to raises and potential of moving up to higher paid jobs within the company.
If you live in an area of low unemployment, they pay more due to local wage standards. Our small town McDonald's sits on a major freeway, and the other day they had a sign paying $14 an hour to start. One of my grandsons worked there two years ago, and back then he was only getting $11 an hour to start but soon was higher paid, and being trained to be a shift manager as he showed he had something on the ball.
Over in oil country in the North East part of the state, I have seen a help wanted sign at $22 an hour on the news. Of course prices are higher, to cover the costs.
McDonald's and Walmart, pay the going rate for the area for their industries. Even the high priced stores, and regular restaurants, pay the same type wages. So why pick on these stores. Employers pay what the local industry standards are, and what the job is worth to them. They are not going to pay executive and high tech salaries, for counter people. They simply cannot afford it.
To some degree there is. In places (like Detroit) where jobs are scarce the pay is less. But rents are lower. In New York, which is the only place that pays well for certain occupations, the cost of living is higher. And in North Dakota, Americas boomtown, cost of living has increased dramatically since the boom.
The proper way to determine whether or not something "pays well" in a certain market is to compare the wage/salary to the cost of living in that market (apples-to-apples), not to compare wages in different markets that have different costs of living (apples-to-oranges).
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