- cross-posted to:
- unions@lemmy.ml
- iwwunion@lemmy.ml
- cross-posted to:
- unions@lemmy.ml
- iwwunion@lemmy.ml
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Am I the only one who thinks a non-founding CEO should never be allowed (let’s say by law) to get a raise simply due to how big their compensation package already is when they get hired?
What do they need more for? Invest that shit in the company or the other workers, and make CEOs job hop for raises like the rest of us have been doing for years. Except when they leave, they are explicitly barred from rehire at that company or any directly related to it. (Imagine this happens, and all of a sudden you have a wave of CEOs pushing for breaking up huge umbrella companies so they can maintain their grift… lol)
If they job hop every year, well that sure would make it obvious how pathetically little they actually do, wouldn’t it? When a series of “the next person” steps into the role and literally nothing changes ever.
A CEOs salary is often just a small part of the compensation.
During some tech bubble bursts, many CEOs parade around saying they’ll only pay themselves a “dollar” for salary. What they aren’t telling you is their millions of stock options they’ll earn.
36% doesn’t tell a clean story. How many dozens of percentage raise would workers get if that CEO’s raise was evenly distributed?
Here’s what I came up with.
Using Meredith Kopit-Levien’s annual pay from the New York Times, at $10.2 million (as stated in the graph.) Then pluging in the 36% raise she was ‘given’ in 2024(?) and divide by 600 Times Tech Guild members. The following is what I got.
Base salary: $10.2 million 36% of $10.2 million = $10.2 million × 0.36 = $3.672 million $3.672 million ÷ 600 = $6,120 per person
Current average salary: $158,000 (using what was stated in the graph) Potential raise: $6,120 Percentage increase = ($6,120 ÷ $158,000) × 100 = 3.87%
So if the value of the 36% raise ($3.672 million) were distributed equally among the 600 guild members: Each member would receive a $6,120 raise This would represent approximately a 3.87% increase to their current average salary.
I see this possibly as this scenario perhaps. boss went 3 for you, 3 for me, 3 for you, 3 for me, 3 for you, 3 for me…
So they could have doubled everyone’s wage increase with that amount.
Or, to put it another way, at baseline, the CEO does the work of 64 people (10.2m/158k). And after raises, the CEO does the work of 85 people (13.9m/163k).
Wow, what a real bootstrapper. I stand in awe.
I mean there certainly are some CEOs that do sound like 85 assholes whenever they open their mouth. Elon Musk comes to mind as a good public example.
Does it matter?
That depends on your values. If your values say quantifying how much workers stand to gain if they shut down exorbitant C-suite wages, then good for you.
In most cases decreasing the CEO wage increase to increase workers would only increase workers wages by a tiny amount. That’s almost never the point. The point is that giving the CEO a bigger raise than the workers is a mockery of who actually produces anything.
Boss gets a dollar, I get…less then a penny??? Aw hell!! Screw pooping on company time! I’mma just bring a gun into work!
…and the news has another days worth of content.
(Just to be clear, I’m NOT threatening to bring a gun to work. I don’t own a gun. I’m just showing how these scenarios play out)
You forgot to add “in Minecraft” there at the end, the police is on their way
Historically*
To be fair, this should compare Tech Guild median total compensation, NOT base salary.
