Posted on 06/27/2018 2:25:33 PM PDT by rickmichaels
A business only has to pay what workers are willing to work for -— and it is really no one else’s business what the numbers are. If a CEO that will make the company millions requires a high salary, then the company has to decide if that CEO is worth the money. There will always be great disparity between the minds that run the business and the minds that run the cash registers. The only ceiling on earning potential and advancement is the worker’s willingness and ability to learn, work hard, become more valuable to the company, and actively seek advancement.
At my last office job, the CEO got a $20 million bonus for the money he saved by firing half the company and outsourcing the jobs to India. What a hero. And they wonder why so many hate them.
If the average Walmart employee possessed the same knowledge/skill sets as company CEO Doug McMillon, they would be making a lot more money and, most likely, would not be working at Walmart.
As it is, my dog is smarter and more accommodating than most of the “workers” I encounter at Walmart—assuming I can find one.
It’s very simple, as I tell my students repeatedly: The more you have to offer, the more options you will have and the more you will earn.
And I bet you like to eat with your family instead of business partners, community leaders, and nonprofit people on the rubber chicken circuit.
I also prefer a job where I don’t travel. I get away with about 10 days over the course of a year. I work in a COO’s office. My yearly travel is about the COO’s average monthly travel.
It is not Wal-Mart’s fault that landlords in mainly Democratic areas are greedy.
Single employees often struggle to get by. That’s because housing is priced for two-income households.
Successful marriage is often a key to getting by comfortably.
And don’t forget, nothing was done to get rid of the PPACA 30-hour pay cap scam Obama used to pretend the US had a low unemployment rate.
“It’s grotesque how unequal this has become,” said Louis Hyman, a business historian at Cornell University. “For CEOs, it’s like they are winning the lottery year after year. For a lot of Americans, they don’t have any savings. When they lose their job, they lose everything.”
Soy boy Hyman, have you EVER worked in the private sector? I mean not in the mis-education industry.
The solution, boys and girls, isn’t to punish rich people. The solution is to foster an environment where competition rises all boats.
Not every CEO created anything
That may not be the government's business - but if the C-suite keeps acting that way, they may find themselves being fitted for rope neckties.
Global-corporate oligarchs make bank, what else is new?
The companies pay the mainly white CEOs the big bucks because they think it is worthwhile.
The ball clubs pay the mainly black ballplayers the big bucks because they think it is worthwhile.
It’s actually because the ballplayers got paid so much that the CEOs started to play the compensation game too.
And the ballplayers owe it all to Mark McCormick, the sports agent who fought for better pay for athletes based on the value they added to their employers’ bottom-lines.
>>A Walmart employee earning the company’s median salary of US$19,177 would have to work for more than a thousand years to earn the US$22.2 million that Doug McMillon<<
And at 10+ times that much it would take me 100 years to earn that salary. It has taken me 40 years to make 1/20th of that but the amount is more than sufficient to last me and my family the rest of my days.
I begrudge him not a penny of his salary.
I made choices that worked for me and my chosen profession. Those choices did not lead me to be CEO of the biggest retail company on the planet (in fact not to be CEO of any company except a small one I started).
It never occurred to me I should be upset about choices others made to get what they wanted. I am a pretty good actor but chose not to pursue that life. I should be angry Tom Cruise did?
The results from some googling shows Walmart employs 1.4 million in the US (2.1 million world wide). Assuming each employee works an average of 1000 hours per year (mostly to make the calculations easier), 1.4 billion hours are worked in the US per year. Dividing 1.4 billion hours into what the CEO makes each year, $22,000,000, the result is $0.015 cents per hour. Another way to do this is divide the CEO’s salary by 1.4 million employees, which yields $15.70 per employee. So, each employee is contributing about $15 per year to their CEO’s salary (awkward to look at it that way), or about $0.015 each hour they work. These are trivial amounts. Using the 2.1 million employees world wide, the contribution per employees is even less.
I agree the CEO makes too much money. If the left was really concerned about this, they would be initiating a discussion on the checks and balances that cause this type of thing to happen. That would mean improving the system, which is something they really don’t want to do. Besides, reducing the CEO’s salary would give them less to complain about.
If we are at full capacity on employment the CEOs will just go to more cheap Third World labor from India and China in the tech world and then get a bonus for saving money
The high CEO pay is an indication that American companies don’t have good management in depth.
I think consensus management based on the Japanese way needs to become the norm in the USA.
If you don’t like it, start your own company and pay “fairly”.
...”intentionally shifting that “median” downward (and no - the average Walmart Employee is not getting rich).”
Okay, so they have to work only 500 years versus the 1000 to earn what the ceo earns?
Hilarious not. How many ceo positions are there?
Not all of them but most of them are there for one reason or another, and for whatever reason those private companies have every right to pay or not pay whatever anyone (including the CEO) is willing to work for.
I personally like the idea of free enterprise without government deciding who gets paid what.
Some simply dumbass comments come from members of FR. The ceo magically made wal mart all that money huh? The wealth disparity problem is much more complicated then your ridiculous assertions imply.
How much would the stockholders of GE have paid for a CEO who knew what he was doing? It’s the difference between making and losing tens of billions.
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